Common use of Collateral Access Rights Clause in Contracts

Collateral Access Rights. (a) If any Term Agent, or any agent or representative of any Term Agent, or any receiver, shall, after any Term Default, obtain possession or physical control of any of the Mortgaged Premises or any of the other Term Priority Collateral, such Term Agent shall promptly notify the ABL Agent in writing of that fact, and the ABL Agent shall, within fifteen (15) Business Days thereafter, notify such Term Agent in writing as to whether the ABL Agent desires to exercise access rights and/or use rights under this Section 3.3. In addition, if the ABL Agent, or any agent or representative or the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the Term Priority Collateral, then the ABL Agent shall promptly notify the Designated Term Agent in writing that the ABL Agent is exercising its access rights and/or use rights under this Agreement and its rights under Section 3.4 under either circumstance. Upon delivery of such notice by the ABL Agent to the Designated Term Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights and/or use rights. Consistent with the definition of “Access Period,” access rights may apply to differing assets comprising Term Priority Collateral at differing times, in which case, a differing Access Period will apply to each such asset.

Collateral Access Rights. (a) If any Term Agent, or any agent or representative of any Term Agent, or any receiver, shall, after any Term Default, obtain possession or physical control of any of the Mortgaged Premises or any of the other Term Priority Collateral, such Term Agent shall promptly notify the ABL Agent in writing of that fact, and the ABL Agent shall, within fifteen (15) Business Days thereafter, notify such Term Agent in writing as to whether the ABL Agent desires to exercise access rights and/or use rights under this Section 3.3. In addition, if the ABL Agent, or any agent or representative or the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the Term Priority Collateral, then the ABL Agent shall promptly notify the Designated Term Agent in writing that the ABL Agent is exercising its access rights and/or use rights under this Agreement and its rights under Section 3.4 under either circumstance. Upon delivery of such notice by the ABL Agent to the Designated Term Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s 's exercise of such access rights and/or use rights. Consistent with the definition of “"Access Period,” " access rights may apply to differing assets comprising Term Priority Collateral at differing times, in which case, a differing Access Period will apply to each such asset.

Collateral Access Rights. (a) If any Term the Notes Agent, or any agent or representative of any Term the Notes Agent, or any receiver, shall, after any Term Notes Default, obtain possession or physical control of any of the Mortgaged Premises or any of the other Term Notes Priority Collateral, such Term the Notes Agent shall promptly notify the ABL Agent in writing of that fact, and the ABL Agent shall, within fifteen (15) Business Days thereafter, notify such Term the Notes Agent in writing as to whether the ABL Agent desires to exercise access rights and/or use rights under this Section 3.3. In addition, if the ABL Agent, or any agent or representative or the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the Term Notes Priority Collateral, then the ABL Agent shall promptly notify the Designated Term Notes Agent in writing that the ABL Agent is exercising its access rights and/or use rights under this Agreement and its rights under Section 3.4 under either circumstance. Upon delivery of such notice by the ABL Agent to the Designated Term Notes Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights and/or use rights. Consistent with the definition of “Access Period,” access rights may apply to differing assets comprising Term Notes Priority Collateral at differing times, in which case, a differing Access Period will apply to each such asset.

Collateral Access Rights. (a) If any Term the Notes Agent, or any agent or representative of any Term the Notes Agent, or any receiver, shall, after any Term Notes Default, obtain possession or physical control of any of the Mortgaged Premises or any of the other Term Notes Priority Collateral, such Term the Notes Agent shall promptly notify the ABL Agent in writing of that fact, and the ABL Agent shall, within fifteen (15) Business Days thereafter, notify such Term the Notes Agent in writing as to whether the ABL Agent desires to exercise access rights and/or use rights under this Section 3.3. In addition, if the ABL Agent, or any agent or representative or the ABL Agent, or any receiver, shall obtain possession or physical control of any of the Mortgaged Premises or any of the Term Notes Priority Collateral, then the ABL Agent shall promptly notify the Designated Term Notes Agent in writing that the ABL Agent is exercising its access rights and/or use rights under this Agreement and its rights under Section 3.4 under either circumstance. Upon delivery of such notice by the ABL Agent to the Designated Term Notes Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights and/or use rights. Consistent with the definition of “Access Period,” access rights may apply to differing assets comprising Term comprimising Notes Priority Collateral at differing times, in which case, a differing Access Period will apply to each such asset.