Common use of Management of Collateral Clause in Contracts

Management of Collateral. Until Trustee has received written notice of termination of this Agreement, Agent shall have the exclusive right to manage, perform and enforce the terms of the Loan Documents or other agreement evidencing or governing the Senior Priority Debt (the “Priority Loan Documents”) with respect to the Collateral and to exercise and enforce all privileges and rights thereunder according to its discretion and the exercise of its business judgment, including, without limitation, the exclusive right to enforce or settle insurance claims, take or retake control or possession of such Collateral and to hold, prepare for sale, process, sell, lease, dispose of, or liquidate such Collateral. In connection therewith, Trustee waives any and all rights to affect the method or challenge the appropriateness of any action by Agent.