Common use of Inspection Rights and Insurance Clause in Contracts

Inspection Rights and Insurance. (a) In connection with any Enforcement Action with respect to the First Lien Obligations, the First Lien Security Documents and the other First Lien Documents, any First Lien Secured Party and its representatives and invitees may at any time inspect, repossess, remove and otherwise deal with the Collateral, and the Collateral Agent or the First Lien Agent may advertise and conduct public auctions or private sales of the Collateral, in each case without notice to, the involvement of or interference by any Second Lien Secured Party or liability to any Second Lien Secured Party. (b) In connection with any Enforcement Action with respect to the Second Lien Obligations, the Second Lien Security Documents and the other Second Lien Documents, any Second Lien Secured Party and its representatives and invitees may, consistent with the terms and limitations on Second Lien Agent and Second Lien Secured Parties imposed hereby, at any time inspect, repossess, remove and otherwise deal with the Collateral, and the Collateral Agent or the Second Lien Agent may advertise and conduct public auctions or private sales of the Collateral, in each case after notice to the First Lien Agent. (c) Until the First Lien Obligations Payment Date has occurred, the Collateral Agent, for the benefit of Secured Parties, will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by any Obligor; (ii) to adjust or settle any insurance policy or claim covering the Collateral in the event of any loss thereunder and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Collateral.

Inspection Rights and Insurance. (a) In connection with any Enforcement Action with respect to the First Lien Obligations, the First Lien Security Documents and the other First Lien Documents, any First Lien Secured Party and its representatives and invitees may at any time inspect, repossess, remove and otherwise deal with the Common Collateral, and the Collateral Agent or the First Lien Agent may advertise and conduct public auctions or private sales of the Common Collateral, in each case without notice to, the involvement of or interference by any Second Lien Secured Party or liability to any Second Lien Secured Party. (b) In connection with any Enforcement Action with respect to the Second Lien Obligations, the Second Lien Security Documents and the other Second Lien Documents, any Second Lien Secured Party and its representatives and invitees may, consistent with the terms and limitations on Second Lien Agent and Second Lien Secured Parties imposed hereby, may at any time inspect, repossess, remove and otherwise deal with the Common Collateral, and the Collateral Agent or the Second Lien Agent may advertise and conduct public auctions or private sales of the Common Collateral, in each case after notice to the First Lien Agent. (c) Until the First Lien Obligations Payment Date has occurred, the Collateral Agent, for the benefit of Secured Parties, will have the sole and exclusive right (i) to be named as additional insured and loss payee under any insurance policies maintained from time to time by any ObligorCredit Party; (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the event of any loss thereunder and (iii) to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral.