Third Lien Permitted Actions definition
Third Lien Permitted Actions shall have the meaning assigned to such term in Section 3.01(a).
Third Lien Permitted Actions means an action by the Third Lien Collateral Agent after the First Lien Obligations Payment Date to (A) join (but not exercise any control with respect to) any judicial foreclosure proceeding or other judicial lien enforcement proceeding with respect to the Collateral initiated by the Second Lien Collateral Agent or any of the Second Lien Secured Parties to the extent that any such action could not reasonably be expected, in any material respect, to restrain, hinder, delay or otherwise interfere with the exercise of remedies by the Second Lien Collateral Agent or the Second Lien Secured Parties (it being understood that no Third Lien Secured Party shall be entitled to receive any proceeds thereof unless otherwise expressly permitted herein), (B) make a cash bid for all or a portion of the Collateral up to the amount of the Second Lien Obligations then outstanding (provided that the proceeds from such bid are to be used to pay the Second Lien Obligations (other than contingent indemnification obligations related to any which claim that has not been asserted or is the subject of an investigation) in full) and then make a credit bid for the remainder of the Third Lien Obligations at any private or judicial sale or disposition of such Collateral initiated or conducted by any Person and (C) exercise rights and remedies available to unsecured creditors to the extent not inconsistent with this Agreement.