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 Senior Creditor 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). (b) To the extent reasonably requested by the Senior Creditor, the Trustee will cooperate in providing any necessary or appropriate releases to permit a collection, sale, or other disposition of Collateral, as provided in Section 4.3(a), by the Senior Creditor therein free and clear of the Trustee’s junior Lien.

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 Senior Creditor Credit Facility Secured Party 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). (b) To the extent reasonably requested by the Senior CreditorCredit Facility Secured Party, the Trustee will cooperate in providing any necessary or appropriate releases to permit a collection, sale, or other disposition of Collateral, as provided in Section 4.3(aSECTION 4.3(A), by the Senior Creditor Credit Facility Secured Party therein free and clear of the Trustee’s 's junior Lien.

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 Senior Creditor Credit Facility Secured Party 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). (b) To the extent reasonably requested by the Senior CreditorCredit Facility Secured Party, the Trustee will cooperate in providing any necessary or appropriate releases to permit a 9 collection, sale, or other disposition of Collateral, as provided in Section 4.3(aSECTION 4.3(A), by the Senior Creditor Credit Facility Secured Party therein free and clear of the Trustee’s 's junior Lien.

Control of Dispositions of Collateral and Effect thereof on Junior Liens. Intercreditor Agreement (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 Senior Creditor Credit Facility Lender shall be free and clear of any Lien of the Trustee in such Collateral; provided thatprovided, 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). (b) To the extent reasonably requested by the Senior Creditoreither Party, the Trustee other Party will cooperate in providing any necessary or appropriate releases to permit a collection, sale, or other disposition of Collateral, as provided in subsection (a) of this Section 4.3(a)4.3, by the Senior Creditor Party holding the senior Lien therein free and clear of the Trusteeother Party’s junior Lien.

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 Senior Creditor Credit Facility Secured Party 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). (b) To the extent reasonably requested by the Senior CreditorCredit Facility Secured Party, the Trustee will cooperate in providing any necessary or appropriate releases to permit a collection, sale, or other disposition of Collateral, as provided in Section 4.3(a), by the Senior Creditor Credit Facility Secured Party therein free and clear of the Trustee’s 's junior Lien.