Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Collateral Agent and the Fixed Asset Collateral Agents agree not to commence any Collateral Enforcement Action until an Enforcement Notice has been given to the other Collateral Agent. Subject to the provisions of Sections 3.1 and 3.2 above, either Collateral Agent may join in any judicial proceedings commenced by the other Collateral Agent to enforce Liens on the Collateral, provided that neither Collateral Agent, nor the Revolving Credit Claimholders or the Fixed Asset Claimholders, as the case may be, shall interfere with the Collateral Enforcement Actions of the other with respect to Collateral in which such party has the priority Lien in accordance herewith.
Exercise of Remedies – Collateral Access Rights. (a) The US Revolving Credit Collateral Agent and the Notes Collateral Agent agree not to commence Enforcement until the earlier of the date on which (i) an Enforcement Notice has been given to the other Agent, and (ii) any Insolvency or Liquidation Proceeding is commenced by or against any Grantor that has not been dismissed.
Exercise of Remedies – Collateral Access Rights. (a) The ABL Agent agrees not to commence any initial Enforcement action until an Enforcement Notice has been given to the Collateral Trustee. Subject to the provisions of Section 3.1, the Collateral Trustee may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the ABL Agent to enforce Liens on the ABL Collateral; provided that neither the Collateral Trustee nor the Priority Lien Claimholders shall interfere with the Enforcement actions of the ABL Agent with respect to the ABL Collateral.
Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Collateral Agent and Term Loan Collateral Agent agree not to commence Enforcement until an Enforcement Notice has been given to the other Agent. Subject to the provisions of Sections 3.1 and 3.2 above, either Agent may join in any judicial proceedings commenced by the other Agent to enforce Liens on the Collateral, provided that neither Agent, nor the Revolving Credit Claimholders or Term Loan Claimholders, as the case may be, shall interfere with the Enforcement actions of the other with respect to Collateral in which such party has the priority Lien in accordance herewith.
Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Agent, Collateral Trustee and the Secured Debt Representatives agree not to commence Enforcement until an Enforcement Notice has been given to the Collateral Trustee or the Revolving Credit Agent, as the case may be. Subject to the provisions of Sections 3.1 and 3.2 above, either the Revolving Credit Agent or the Collateral Trustee may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the other Person to enforce Liens on the Collateral, provided that neither such Person, nor the Revolving Credit Claimholders or Secured Debt Claimholders, as the case may be, shall interfere with the Enforcement actions of the other with respect to Collateral in which such party or its Secured Debt Representative has the benefit of the priority Lien in accordance herewith.
Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Collateral Agent and the Collateral Trustee agree not to commence Enforcement until the earlier of the date on which (A) an Enforcement Notice has been given to the Collateral Trustee or the Revolving Credit Collateral Agent, as the case may be or (B) any Insolvency or Liquidation Proceeding is commenced by or against any Grantor that has not been dismissed. Subject to the provisions of Section 3.1, the Collateral Trustee may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the Revolving Credit Collateral Agent to enforce Liens on the Collateral, provided that neither the Collateral Trustee, nor the Term Priority Lien Claimholders or the Subordinated Lien Claimholders shall interfere with the Enforcement actions of the Revolving Credit Collateral Agent with respect to the Revolving Credit Collateral.
Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Agents and Pari Passu Representatives agree not to commence Enforcement until the earlier of (i) the date on which an Enforcement Notice has been given to each Pari Passu Representative by any Revolving Credit Agent or to any Revolving Credit Agent by the Authorized Pari Passu Collateral Agent, as the case may be, and (ii) the date on which any Insolvency or Liquidation Proceeding is commenced by or against any Grantor. Subject to the provisions of Sections 5.1 and 5.2 above, any of the Revolving Credit Agents, any of the Pari Passu Secured Parties and any of the Subordinated Lien Secured Parties may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the other Person to enforce Liens on the Collateral, provided that no such Revolving Credit Claimholder, Pari Passu Secured Party or Subordinated Lien Secured Party shall interfere with the Enforcement actions of the other with respect to Collateral in which such party or its agent or representative has the benefit of the priority Lien in accordance herewith.
Exercise of Remedies – Collateral Access Rights. (a) The Revolver Agent agrees not to instruct or otherwise cause Collateral Agent to commence Enforcement until an Enforcement Notice has been given to the Term Loan Agent by the Revolver Agent. Subject to the provisions of Section 4.4, the Term Loan Agent may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the Collateral Agent to enforce Liens on the Revolver Priority Collateral; provided that neither the Term Loan Agent nor the Term Loan Lenders shall interfere with the Enforcement actions of the Collateral Agent with respect to the Revolver Priority Collateral. (b) If the Collateral Agent or any of its agents or representatives, or any third party pursuant to any Enforcement undertaken by or on behalf of the Term Loan Agent or receiver, shall obtain possession or physical control of any item of Term Loan Priority Collateral (including any contracts, documents, books, records and other information with respect to any Term Loan Priority Mortgaged Property), the Collateral Agent shall promptly notify in writing the Revolver Agent of that fact and the Revolver Agent shall, within ten (10) Business Days thereafter, notify in writing the Term Loan Agent or, if applicable, any such third party (at such address to be provided by the Term Loan Agent, as applicable, in connection with the applicable Enforcement), as to whether the Revolver Agent desires the Collateral Agent to exercise access rights under this Agreement for any purpose permitted under the Revolver Loan Documents (including enforcement of rights and remedies), at which time the parties shall confer in good faith to coordinate with respect to the Revolver Agent’s exercise of such access rights. (c) The Term Loan Agent agrees not to instruct or otherwise cause Collateral Agent to commence Enforcement until an Enforcement Notice has been given to the Revolver Agent by the Term Loan Agent. Subject to the provisions of Section 4.5, the Revolver Agent may, to the extent permitted by applicable law, join in any judicial proceedings commenced by or on behalf of the Collateral Agent to enforce Liens on the Term Loan Priority Collateral, provided that neither the Revolver Agent nor the Revolver Lenders shall interfere with the Enforcement actions of the Collateral Agent with respect to the Term Loan Priority Collateral. (d) If the Collateral Agent, or any of its agents or representatives, or any third party pursuant to any Enforcement undertaken by or on behalf of t...
Exercise of Remedies – Collateral Access Rights. (a) If any Fixed Asset Collateral Agent, or any agent or representative of any Fixed Asset Collateral Agent, shall, after any Fixed Asset Default, obtain possession or physical control of any of the Fixed Asset Collateral or any Fixed Asset Collateral Agent shall sell or otherwise dispose of any Fixed Asset Collateral to any third party (each a “Third Party Purchaser”), such Fixed Asset Collateral Agent shall promptly notify the Revolving Credit Collateral Agent in writing of that fact, and the Revolving Credit Collateral Agent shall promptly thereafter notify such Fixed Asset Collateral Agent in writing as to whether the Revolving Credit Collateral Agent desires to exercise access rights under this Section 3.3. In addition, if the Revolving Credit Collateral Agent, or any agent or representative of the Revolving Credit Collateral Agent, shall obtain possession or physical control of any of the Fixed Asset Collateral, following the delivery to the Controlling Fixed Asset Collateral Agent of an Enforcement Notice with respect to the disposition of any ABL Collateral, then the Revolving Credit Collateral Agent shall promptly notify the Controlling Fixed Asset Collateral Agent in writing that it is exercising its access rights under this Agreement and its rights under Section 3.4 in respect of such ABL Collateral. Upon delivery of such notice of exercise of access rights by the Revolving Credit Collateral Agent to the Controlling Fixed Asset Collateral Agent, the parties shall confer in good faith to coordinate with respect to the Revolving Credit Collateral Agent’s exercise of such access rights. Consistent with the definition of “Access and Use Period”, access rights may apply to differing portions of the Fixed Asset Collateral at differing times, in which case, a differing Access and Use Period will apply to each such portion.
Exercise of Remedies – Collateral Access Rights. (a) The Revolving Credit Collateral Agent, the Note Collateral Agent and the Note Lien Representatives agree not to commence Enforcement until the earlier of the date on which (A) an Enforcement Notice has been given to the Note Collateral Agent or the Revolving Credit Collateral Agent, as the case may be and (B) any Insolvency or Liquidation Proceeding is commenced by or against any Grantor that has not been dismissed. Subject to the provisions of Sections 3.1 and 3.2 above, either the Revolving Credit Collateral Agent or the Note Collateral Agent may, to the extent permitted by applicable law, join in any judicial proceedings commenced by the other Person to enforce Liens on the Collateral, provided that neither such Person, nor the Revolving Credit Claimholders or Note Lien Claimholders, as the case may be, shall interfere with the Enforcement actions of the other with respect to Collateral in which such party has the benefit of the priority Lien in accordance herewith.
