Common use of Rights Relating to Agent’s Actions with respect to the Collateral Clause in Contracts

Rights Relating to Agent’s Actions with respect to the Collateral. The Subordinated Creditor hereby waives, to the extent permitted by applicable law, any rights which it may have to enjoin or otherwise obtain a judicial or administrative order preventing Agent or Senior Lenders from taking, or refraining from taking, any action with respect to all or any part of the Collateral. Without limitation of the foregoing, the Subordinated Creditor hereby agrees (a) that it has no right to direct or object to the manner in which Agent and Senior Lenders apply the proceeds of the Collateral resulting from the exercise by Agent and Senior Lenders of rights and remedies under the Senior Debt Documents to the Senior Debt and (b) that Agent has not assumed any obligation to act as the agent for any Subordinated Creditor with respect to the Collateral.

Rights Relating to Agent’s Actions with respect to the Collateral. The Each Subordinated Creditor Lender hereby waives, to the extent permitted by applicable law, any rights which it may have to enjoin or otherwise obtain a judicial or administrative order preventing Agent or Senior Lenders Secured Parties from taking, or refraining from taking, any action with respect to all or any part of the Collateral. Without limitation of the foregoing, the each Subordinated Creditor Lender hereby agrees (a) that it has no right to direct or object to the manner in which Agent and Senior Lenders Secured Parties apply the proceeds of the Collateral resulting from the exercise by Agent and Senior Lenders Secured Parties of rights and remedies under the Senior Debt Documents to the Senior Debt and (b) that Agent has not assumed any obligation to act as the agent for any Subordinated Creditor Lender with respect to the Collateral.

Rights Relating to Agent’s Actions with respect to the Collateral. The Subordinated Creditor Obligee hereby waives, to the extent permitted by applicable law, any rights which it may have to enjoin or otherwise obtain a judicial or administrative order preventing Agent or Senior Lenders from taking, or refraining from taking, any action with respect to all or any part of the Collateral. Without limitation of the foregoing, the Subordinated Creditor Obligee hereby agrees (a) that it has no right to direct or object to the manner in which Agent enforces its rights and Senior Lenders apply remedies with respect to, or applies the proceeds of of, the Collateral resulting from the exercise by Agent and Senior Lenders of rights and remedies under the Senior Debt Loan Documents to the Senior Debt Loans, and (b) that Agent has not assumed any obligation to act as the agent for any Subordinated Creditor Obligee with respect to the Collateral.