Common use of Control of Dispositions of Collateral and Effect thereof on Junior Liens Clause in Contracts

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any collection, sale, or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party shall be free and clear of any Lien of the Trustee in such Collateral; provided that the Trustee shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness in accordance with SECTION 3.4).

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any collection, sale, or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party Senior Creditor shall be free and clear of any Lien of the Trustee in such Collateral; provided that that, the Trustee shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness in accordance with SECTION Section 3.4).

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any UCC collection, sale, sale or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party Senior Lien Administrative Agent shall be free and clear of any Lien of the Trustee Subordinated Lien Creditor Representative in such Collateral; provided that that, the Trustee Subordinated Lien Creditor Representative shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness (up to the Maximum Credit Facility Amount) in accordance with SECTION Section 3.4).

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any Uniform Commercial Code collection, sale, or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party any Senior Lien Creditor Representative shall be free and clear of any Lien of the Trustee in such Collateral; provided that that, the Trustee shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness (up to the Maximum Credit Facility Amount) in accordance with SECTION Section 3.4).

Control of Dispositions of Collateral and Effect thereof on Junior Liens. (a) Each Party hereby agrees that any Uniform Commercial Code collection, sale, or other disposition of Collateral (whether under the applicable Uniform Commercial Code or otherwise) by the Credit Facility Secured Party Lender shall be free and clear of any Lien of the Trustee in such Collateral; provided that the Trustee shall retain a Lien (having the same priority as the Lien it previously had on the item of Collateral that was collected, sold or otherwise disposed of) on the proceeds of such collection, sale, or other disposition (except to the extent such proceeds are applied to the Credit Facility Indebtedness in accordance with SECTION Section 3.4).