Common use of Coordination of Enforcement Efforts Clause in Contracts

Coordination of Enforcement Efforts. Without providing any rights or benefits to the Borrower or any Obligor, the Senior Indebtedness Representative, for itself and on behalf of the Senior Revolving Claimholders, and the Term Administrative Agent, for itself and on behalf of the Term Claimholders, agree that in the event enforcement proceedings are necessary, such parties shall reasonably discuss the possibility of undertaking a coordinated enforcement process, including an effort to attempt to sell the Collateral for fair market value as a going concern and to reasonably enter into arrangements between themselves so as to permit the ongoing operation of the business of the Borrower and the other Obligors. Failure to enter into such discussions shall in no way affect the rights and/or obligations of any party as set forth in this Agreement. In addition, the Term Administrative Agent and the Term Claimholders may join in (but not control) any judicial foreclosure proceeding or other judicial lien enforcement proceeding with respect to the Collateral initiated by the Senior Indebtedness Representative or any Senior Revolving Claimholder, to the extent that any such action could not reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with the exercise of such remedy or remedies by the Senior Indebtedness Representative or such Senior Revolving Claimholder.

Coordination of Enforcement Efforts. Without providing any rights or benefits to the Borrower or any Obligor, the Senior Indebtedness First Lien Representative, for itself and on behalf of the Senior Revolving First Lien Claimholders, and the Term Administrative AgentSecond Lien Representative, for itself and on behalf of the Term Second Lien Claimholders, agree that in the event enforcement proceedings are necessary, such parties shall reasonably discuss the possibility of undertaking a coordinated enforcement process, including an effort to attempt to sell the Collateral for fair market value as a going concern and to reasonably enter into arrangements between themselves so as to permit the ongoing operation of the business of the Borrower and the other Obligors. Failure to enter into such discussions shall in no way affect the rights and/or obligations of any party as set forth in this Agreement. In addition, the Term Administrative Agent Second Lien Representative and the Term Second Lien Claimholders may join in (but not control) any judicial foreclosure proceeding or other judicial lien enforcement proceeding with respect to the Collateral initiated by the Senior Indebtedness First Lien Representative or any Senior Revolving First Lien Claimholder, to the extent that any such action could not reasonably be expected, in any material respect, expected to restrain, hinder, limit, delay for any material period or otherwise interfere with the exercise of such remedy or remedies by the Senior Indebtedness First Lien Representative or such Senior Revolving ClaimholderFirst Lien Claimholder in any material respect.