Common use of FORBEARANCE BY GE CAPITAL AND THE PARTICIPANTS Clause in Contracts

FORBEARANCE BY GE CAPITAL AND THE PARTICIPANTS. From and after the occurrence of an Event of Default and continuing until the expiration of the period described in SECTION 7.2 if the Administrative Agent does not timely deliver the Purchase Notice to the FF&E Agent in accordance with this Agreement, GE Capital and the Participants covenant and agree with the Senior Lenders that neither they nor the FF&E Agent, without the consent of the Administrative Agent, shall (x) exercise any rights or remedies under the Facilities Agreement or the Operative Documents (other than the giving of notices or the declaration of default thereunder) or take any action which may adversely affect the Facilities including, without limitation, (1) all self-help remedies under the Facilities Agreement and the Operative Documents, (2) all rights (statutory or otherwise) relating to a sale under power of sale, (3) accepting a transfer of title to any of the Gaming Equipment described on the Collateral Schedules or any of the Equipment leased under and described on the Equipment Schedules in lieu of the exercise of remedies or otherwise taking title thereto, or (4) appointing a receiver or taking any other action to obtain possession or control of any of the Gaming Equipment described on the Collateral Schedule or any of the Equipment leased under and described on the Equipment Schedules, (y) commence any proceeding or take any action which might impair the lien or priority of the Facilities Agreement or hinder or delay payment or performance of the obligations evidenced and secured by the Facilities Agreement, or (z) seek to have Aladdin Gaming adjudicated insolvent or bankrupt or commence any other proceeding under any reorganization, insolvency or liquidation or similar law in effect relating to Aladdin Gaming.