Common use of Certain Rights in Bankruptcy Clause in Contracts

Certain Rights in Bankruptcy. In order to enable each holder of Senior Indebtedness to enforce their rights hereunder in any bankruptcy, insolvency or similar proceeding, Seller hereby irrevocably authorizes and empowers the Senior Agent (and its representative or representatives) to demand, xxx for, collect and receive all payments and distributions in respect of the Subordinated Obligations, to file and prove all claims (including claims in bankruptcy) relating to the Subordinated Obligations, to exercise any right to vote arising with respect to the Subordinated Obligations and any claims hereunder in any bankruptcy, insolvency or similar proceeding and take any and all other actions in the name of Seller, as the Senior Agent determines to be necessary or appropriate.

Certain Rights in Bankruptcy. In order to enable each holder of Senior Indebtedness to enforce their its rights hereunder in any bankruptcy, insolvency or similar proceeding, the Seller hereby irrevocably authorizes and empowers the Senior Agent (and its representative or representatives) to demand, xxx sxx for, collect and receive all payments and distributions in respect of the Subordinated Obligations, to file and prove all claims (including claims in bankruptcy) relating to the Subordinated Obligations, to exercise any right to vote arising with respect to the Subordinated Obligations and any claims hereunder in any bankruptcy, insolvency or similar proceeding and take any and all other actions in the name of the Seller, as the Senior Agent determines to be necessary or appropriate.