Common use of Discretion in Enforcement of Priority Liens Clause in Contracts

Discretion in Enforcement of Priority Liens. (a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations the Priority Lien Secured Parties and the Priority Lien Representatives (by Act of Required Secured Parties) shall have the exclusive right to enforce (or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: (i) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Obligations; (ii) the enforcement or forbearance from enforcement of any Priority Lien in respect of the Collateral; (iii) the exercise or forbearance from exercise of rights and powers of a holder of shares of stock included in the Senior Trust Estate to the extent provided in the Priority Lien Security Documents; (iv) the acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and

Discretion in Enforcement of Priority Liens. (a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations the Priority Lien Secured Parties and the Priority Lien Representatives (by Act of Required Secured Parties) shall have the exclusive right to may enforce (or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: : (i1) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Obligations; ; (ii2) the enforcement or forbearance from enforcement of any Priority Lien in respect of the Collateral; ; (iii3) the exercise or forbearance from exercise of rights and powers of a holder of shares of stock included in the Senior Trust Estate to the extent provided in the Priority Lien Security Documents; ; (iv4) the acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and (5) the exercise or forbearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity.

Discretion in Enforcement of Priority Liens. (a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations the Priority Lien Secured Parties and the Priority Lien Representatives (by Act of Required Secured Parties) shall have the exclusive right to may enforce (or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: : (i1) the exercise or forbearance forebearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Obligations; ; (ii2) the enforcement or forbearance forebearance from enforcement of any Priority Lien in respect of the Collateral; ; (iii3) the exercise or forbearance forebearance from exercise of rights and powers of a holder of shares of stock included in the Senior Trust Estate Priority Lien Collateral to the extent provided in the Priority Lien Security Documents; ; (iv4) the acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and (5) the exercise or forebearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity.

Discretion in Enforcement of Priority Liens. (a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations the Priority Lien Secured Parties and the Priority Lien Representatives (by Act of Required Secured Parties) shall have the exclusive right to may enforce (or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: : (i1) the exercise or forbearance forebearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Obligations; ; (ii2) the enforcement or forbearance forebearance from enforcement of any Priority Lien in respect of the Collateral; ; (iii3) the exercise or forbearance forebearance from exercise of rights and powers of a holder of shares of stock included in the Senior Trust Estate to the extent provided in the Security Documents securing the Priority Lien Security Documents; Obligations; (iv4) the acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and (5) the exercise or forebearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity.

Discretion in Enforcement of Priority Liens. (a) In exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations the Priority Lien Secured Parties and the Priority Lien Representatives (by Act of Required Secured Parties) shall have the exclusive right to may enforce (or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: : (i1) the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the Priority Lien Obligations; ; (ii2) the enforcement or forbearance from enforcement of any Priority Lien in respect of the Collateral; ; (iii3) the exercise or forbearance from exercise of rights and powers of a holder of shares of stock included in the Senior Trust Estate to the extent provided in the Priority Lien Security Documents; ; (iv4) the acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and (5) the exercise or forbearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity.