Additional Waivers by the Obligors and the Pari Passu Creditors. The Obligors and the Pari Passu Creditors, and each of them, waives any and all notice of # the receipt and acceptance by all parties hereto of this Agreement, # of the creation, renewal, extension or accrual of any of the Pari Passu Debt, present or future, in whole or in part, by any Pari Passu Creditor (provided, notwithstanding anything set forth herein to the contrary, that this clause (b) shall not be deemed to be a waiver of any obligation of any party under Section 11 of this Agreement, including without limitation the respective notice obligations of the Pari Passu Creditors under Section 11 of this Agreement), and/or # of the reliance by any Pari Passu Creditor on this Agreement at any time.
impair, as between the Obligors and the Pari Passu Creditors, # the obligations of the Obligors, as provided in the Pari Passu Note Documents, to pay principal of and interest on any Pari Passu Debt in accordance with its terms, or # any other obligations of the Obligors owing or performable by the Obligors in relation to any Pari Passu Debt or 2024 Debt in accordance with its terms; or
Pari Passu Priority. Subject to Section 7 and except as set forth in Section 34 with respect to the Collateral – Barrels, each of the Obligors and each Pari Passu Creditor agrees that all Liens and whatever other right, title or interest (if any) any such Pari Passu Creditor may have at any time in or to any Collateral as security for the Pari Passu Debt shall, at all times and in all respects, be pari passu in priority and in all other respects with all Liens and any other right, title or interest of Aegis in or to any such Collateral as security for the Aegis Debt, irrespective of the time or order of the creation or perfection of any such Lien, right, title or interest and irrespective of any failure by Aegis to create or perfect any such Lien, right, title or interest.
PARI PASSU NOTES. Holder acknowledges and agrees that the payment of all or any portion of the outstanding principal amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to any other Notes. In the event Holder receives payments in excess of its pro rata share of the Company’s payments to the holders of all of the Notes, then Holder shall hold in trust all such excess payments for the benefit of the holders of the other Notes and shall pay such amounts held in trust to such other holders upon demand by such holders.
Books and Records; Legends. Each of the Obligors and each of the Pari Passu Creditors agrees # to make proper notations in its respective books, records or other statements which evidence or record any Pari Passu Debt indicating that the Pari Passu Debt is subject to the provisions of this Agreement, and # to place the following legend on any promissory note or other instrument evidencing the Pari Passu Debt:
Expenses; Indemnification. Each of the Obligors agrees to pay Agent, on demand, its pari passu share of all reasonable costs and expenses of any kind, including counsel fees, which Agent may incur in enforcing any of its or any of the Pari Passu Creditors’ rights or remedies against the Obligors under this Section 4. Aegis and each Pari Passu Creditor shall reimburse Agent upon demand for its ratable share of any reasonable costs or out of pocket expenses (including attorney’s fees and expenses) incurred by Agent in enforcing any of its or any of the Pari Passu Creditors’ rights or remedies against the Obligors in accordance with this Section 4 to the extent that Agent is not promptly reimbursed for such expenses by or on behalf of the Obligors. To the extent Agent is not promptly reimbursed by the obligors, EACH PARI PASSU creditor will reimburse and indemnify Agent, in proportion to its Pro Rata Share, for and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including counsel fees and disbursements) or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against Agent in performing its duties as agent hereunder, in any way relating to or arising out of this Agreement; provided, that THE Pari Passu creditorS shall NOT be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from Agent’s gross negligence, bad faith or willful misconduct. The obligation of the Pari Passu Creditors in this Section 4(e) shall survive the payment of all obligations of the Obligors under the Aegis Debt and the -District Debt.
“Pari Passu Creditor” means any of the Secured Creditors (collectively, the “Pari Passu Creditors”).
the Obligors shall have complied with each other reasonable request of Pari Passu Creditors in connection with such sale of all or any portion of the Spirits Business, as applicable.
Other Intercreditor Arrangements. Except for any “Permitted Liens” under and as defined in the Pari Passu Note Documents as in effect on the Effective Date, the Pari Passu Creditors agree not to enter into any agreement with another creditor of or any other Obligor to subordinate any Liens of any Pari Passu Creditor in any Collateral under the Pari Passu Note Documents to the Lien of such other creditor in the Collateral without the prior written consent of all Pari Passu Creditors.
affect the relative rights of any Pari Passu Creditor in relation to any other creditor of any Obligor other than the relative rights of such Pari Passu Creditor in relation to the other Pari Passu Creditors.
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