Common use of Asset Dispositions in an Insolvency Proceeding Clause in Contracts

Asset Dispositions in an Insolvency Proceeding. Neither the Subordinated Holder Representative nor any other Subordinated Holder shall, in an Insolvency Proceeding or otherwise, oppose any sale or disposition of any assets of any Loan Party that is supported by the Senior First Priority Secured Parties. Without limitation of the foregoing, the Subordinated Holder Representative and each other Subordinated Holder will not object to any sale under Section 363 of the Bankruptcy Code (and otherwise under the Bankruptcy Code and the rules promulgated thereunder) to any sale supported by the Senior First Priority Secured Parties and will agree to have released their Liens in such assets.