Common use of Rights with respect to Collateral Clause in Contracts

Rights with respect to Collateral. Each Subordinated Noteholder agrees with all other Subordinated Noteholders and the Subordinated Noteholder Representative (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Subordinated Noteholder Representative or any of the other Subordinated Noteholders in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Subordinated Noteholder has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Subordinated Noteholder Representative hereunder by a successor Subordinated Noteholder Representative, such successor Subordinated Noteholder Representative shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Subordinated Noteholder Representative and the retiring Subordinated Noteholder Representative shall be discharged from its duties and obligations under the Agreement. After any retiring Subordinated Noteholder Representative’s resignation or removal hereunder as Subordinated Noteholder Representative, the provisions of the Agreement including this Annex III shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Subordinated Noteholder Representative.

Rights with respect to Collateral. Each Subordinated Noteholder agrees with all other Subordinated Noteholders and the Subordinated Noteholder Representative (i) that it shall not, and shall not attempt to, exercise any rights with respect to its security interest in the Collateral, whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action against the Subordinated Noteholder Representative or any of the other Subordinated Noteholders in respect of the Collateral or its rights hereunder (other than any such action arising from the breach of this Agreement) and (ii) that such Subordinated Noteholder has no other rights with respect to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment as Subordinated Noteholder Representative hereunder by a successor Subordinated Noteholder Representative, such successor Subordinated Noteholder Representative shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Subordinated Noteholder Representative and the retiring Subordinated Noteholder Representative shall be discharged from its duties and obligations under the Agreement. After any retiring Subordinated Noteholder Representative’s resignation or removal hereunder as Subordinated Noteholder Representative, the provisions of the Agreement including this Annex III shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Subordinated Noteholder Representative.Noteholder