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Intercreditor Agreement Adequate Protection Waiver Clause

Description: A secured creditor has the right to demand adequate protection in the form of additional or substitute collateral. In an intercreditor agreement, first lien lenders will want to prevent second lien lenders from seeking adequate protection by using a clause such as the one included here.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: May 2014
PLI Item #: 135711
Keywords: "intercreditor agreement"; "lien subordination"; "first lien obligations"; "second lien obligations"; "first lien claimholders"; "second lien claimholders"; "revolving credit"; "debt cap"; "refinancing"; "amendment"; "restatement"; "maximum first priority lien amount"; "DIP financing"; "debtor in possession"; "adequate protection"
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