Unsecured Creditor Remedies. Except as set forth in Section 3.1(a), 3.5, and 6, Second Lien Agent and Second Lien Claimholders may exercise rights and remedies as unsecured creditors against any Grantor in accordance with the terms of the Second Lien Debt Documents and applicable law; provided, however, that in the event that any Second Lien Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Second Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Second Lien Obligations.
Unsecured Creditor Remedies. Except as set forth in Sections 2.2, 3.6, and 6, the Agents and the other Claimholders may exercise rights and remedies as unsecured creditors generally against any Grantor in accordance with the terms of the applicable Loan Documents and applicable law so long as doing so is not in contravention of the terms of this Agreement; provided, that in the event that any Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to its Debt, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing such Debt.
Unsecured Creditor Remedies. Except as set forth in Sections 2.2, 3.1 (b), (c) or (d), 3.5, and 6, Second Lien Creditor and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors generally against the Debtor in accordance with the terms of the Second Lien Documents and applicable law so long as doing so is not, directly or indirectly, inconsistent with the terms of this Agreement; provided, that in the event that any Second Lien Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Second Lien Debt, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Second Lien Debt.
Unsecured Creditor Remedies. Except as set forth in Sections 2.2, 3.1, 3.5, and 6, Term Loan Agent and the other Term Loan Claimholders may exercise rights and remedies as unsecured creditors generally against any Term Loan Grantor in accordance with the terms of the Term Loan Documents and applicable law so long as doing so is not, directly or indirectly, inconsistent with the terms of this Agreement; provided, that in the event that any Term Loan Claimholder becomes a judgment Lien creditor in respect of ABL Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Term Loan Debt, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens in the ABL Collateral securing the Term Loan Debt.
Unsecured Creditor Remedies. Except as set forth in Sections 3.1, 3.5, and 6 any Term Loan Claimholder or any Revolver Claimholder may exercise rights and remedies as unsecured creditors against any Grantor in accordance with the terms of the Term’ Loan Documents or the Revolver Loan Documents to which such Term Loan Claimholder or Revolver Claimholder is party and applicable law; provided, however, that in the event that any Term Loan Claimholder or Revolver Claimholder becomes an execution creditor with a Lien or a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Term Loan Obligations or the Revolver Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Term Loan Obligations or the Revolver Obligations.
Unsecured Creditor Remedies. 29 3.8 Commercially Reasonable Dispositions; Notice of Exercise ........................................... 29 3.9 Inspection and Access Rights ........................................................................................... 30 3.10 Sharing of Information and Access ................................................................................... 32 3.11 Tracing of and Priorities in Proceeds ................................................................................ 32 SECTION 4. PROCEEDS. ....................................................................................................................... 33 4.1 Application of Proceeds .................................................................................................... 33 4.2 Turnover............................................................................................................................ 35 4.3 No Subordination in Right of Payment ............................................................................. 37 4.4 Non-Lienable Assets ......................................................................................................... 37 4.5
Unsecured Creditor Remedies. Except as set forth in Sections 3.1, 3.5, and 6, Junior Agent and Junior Claimholders may exercise rights and remedies as unsecured creditors against any Grantor in accordance with the terms of the Junior Note Documents and applicable law; provided, however, that in the event that any Junior Claimholder becomes a judgment creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Junior Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Junior Lien Obligations. Nothing in this Agreement is intended to prohibit the receipt by the Junior Agent and Junior Claimholders of the required payments of principal, premium, interest, fees and other amounts due under the Junior Note Documents so long as such receipt is not the direct or indirect result of (a) the Exercise of Secured Creditor Remedies with respect to the Collateral by Junior Agent or any Junior Claimholder or the application of the proceeds thereof in contravention of this Agreement or (b) Junior Agent’s or any Junior Claimholder’s collusion with any Grantor in violating the rights of any Senior Agent or any Senior Claimholder (within the meaning of Section 9-332 of the UCC).
Unsecured Creditor Remedies. No Voluntary Prepayments of Junior Lien Obligations; Interest Payments on Junior Lien Obligations After Senior Specified Default ...................................................................................................16 SECTION 4. PROCEEDS. ..........................................................................................................17 4.1. Application of Proceeds.........................................................................................17 4.2. Turnover.................................................................................................................17 4.3. [Reserved] ..............................................................................................................17 4.4. Revolving Nature of Senior Lien Obligations .......................................................17 SECTION 5. RELEASES; DISPOSITIONS; OTHER AGREEMENTS. ..................................18 5.1. Releases..................................................................................................................18 5.2. Insurance ................................................................................................................19 5.3.
Unsecured Creditor Remedies. Notwithstanding anything in this Agreement to the contrary (other than Section 3(c), Section 3(f), Section 4(a), Section 5 in its entirety, the Subordinated Claimholders may exercise any rights and remedies available to unsecured creditors against any Obligor in accordance with the terms of the Subordinated Credit Documents and applicable law.
Unsecured Creditor Remedies. Except as set forth in Sections 3.1, 5.1 and 6, Junior Agent and Junior Claimholders may exercise rights and remedies as unsecured creditors against any U.S. Grantor in accordance with the terms of the Junior Lien Documents and applicable law. Except as otherwise set forth in this Agreement (and subject in any event to any Lien subordination provisions in any Junior Lien Documents), nothing in this Agreement shall prohibit the receipt by the Junior Agent or any other Junior Claimholder of payments on the Junior Lien Obligations so long as such receipt is not (i) the direct or indirect result of the exercise by the Junior Agent or any other Junior Claimholder of rights or remedies as a secured creditor with respect to the Junior Collateral (including setoff or recoupment) or enforcement in contravention of this Agreement of any Lien held by any of them or (ii) otherwise in contravention of this Agreement. In the event that any Junior Claimholder becomes a judgment creditor in respect of Junior Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Junior Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes as the other Liens securing the Junior Lien Obligations.
