Exclusive Enforcement. Until the First Priority Obligations Payment Date has occurred, whether or not an Insolvency Proceeding has been commenced by or against any Loan Party, the First Priority Secured Parties shall have the exclusive right to take and continue any Enforcement Action with respect to the Common Collateral, without any consultation with or consent of any Second Priority Secured Party, but subject to the provisos set forth in Sections 3.2 and 5.
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Samples: Credit Agreement (Rivian Automotive, Inc. / DE), First Lien Credit Agreement (Hayward Holdings, Inc.), Credit Agreement (SWIFT TRANSPORTATION Co)
Exclusive Enforcement. Until the First Priority Obligations Payment Date has occurred, whether or not an Insolvency Proceeding has been commenced by or against any Loan Party, the First Priority Secured Parties shall have the exclusive right to take and continue any
1. Upon the occurrence and during the continuance of a default or an event of default under the First Priority Documents, the First Priority Representative and the other First Priority Secured Parties may take and continue any Enforcement Action with respect to the First Priority Obligations and the Common Collateral, without any consultation with or consent of any Second Priority Secured Party, but subject to the provisos set forth Collateral in Sections 3.2 such order and 5manner as they may determine in their sole discretion.
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