Common use of Coordination of Enforcement Efforts Clause in Contracts

Coordination of Enforcement Efforts. Without providing any rights or ----------------------------------- benefits to the Debtors, the Senior Loan Agent, the Indenture Trustee and each Noteholder agree that, in the event enforcement proceedings are necessary at any time after the Stated Maturity Date of the Subordinated Debt, such parties shall reasonably discuss the possibility of undertaking a coordinated enforcement process, including an effort, if advisable, to attempt to sell the Collateral assets of the Debtors for fair market value as a going concern and to reasonably enter into arrangements between themselves so as to permit the ongoing operation of the business of the Debtors. Failure to enter into such discussions shall in no way affect the rights and/or obligations of any party as set forth in this Agreement nor shall it entitle any party to specific performance pursuant to Section 7.4 hereof.

Coordination of Enforcement Efforts. Without providing any rights or ----------------------------------- benefits to the Debtors, the Senior Loan Agent, the Indenture Trustee and each Noteholder agree that, in the event enforcement proceedings are necessary at any time after the Stated Maturity Date of the Subordinated Debt, such parties shall reasonably discuss the possibility of undertaking a coordinated enforcement process, including an effort, if advisable, to attempt to sell the Collateral assets of the Debtors for fair market value as a going concern and to reasonably enter into arrangements between themselves so as to permit the ongoing operation of the business of the Debtors. Failure to enter into such discussions shall in no way affect the rights and/or obligations of any party as set forth in this Agreement nor shall it entitle any party to specific performance pursuant to Section 7.4 hereof.