Common use of Management of the Collateral Clause in Contracts

Management of the Collateral. Subject to the DIP Orders, each Loan Party further agrees, that, during the continuance of any Event of Default, (i) at the Collateral Agent’s request (acting at the direction of the Required Lenders), it shall assemble the Collateral and make it available to the Collateral Agent at places that the Collateral Agent shall reasonably select, whether at such Loan Party’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Agent (acting at the direction of the Required Lenders) also has the right to require that each Loan Party store and keep any Collateral pending further action by the Collateral Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able to sell any Collateral, the Collateral Agent shall have the right to hold or use such Collateral for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent and (iv) the Collateral Agent may, at the direction of the Required Lenders, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Subject to the DIP Orders, the Collateral Agent shall not have any obligation to any Loan Party to maintain or preserve the rights of any Loan Party as against third parties with respect to any Collateral.

Management of the Collateral. Subject to the DIP Orders, each Loan Party Each Grantor further agrees, that, during the continuance of any Event of Default, (i) at the Collateral Primary Administrative Agent’s request (acting at the direction of the Required Lenders)request, it shall assemble the Collateral and make it available to the Collateral Primary Administrative Agent at places that the Collateral Primary Administrative Agent shall reasonably select, whether at such Loan PartyGrantor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Primary Administrative Agent (acting at the direction of the Required Lenders) also has the right to require that each Loan Party Grantor store and keep any Collateral pending further action by the Collateral Primary Administrative Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Primary Administrative Agent is able to sell Sell any Collateral, the Collateral Primary Administrative Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Primary Administrative Agent and (iv) the Collateral Primary Administrative Agent may, at the direction of the Required Lendersif it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Primary Administrative Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Subject to Neither the DIP Orders, Primary Administrative Agent nor the Collateral Agent shall not have any obligation to any Loan Party Grantor to maintain or preserve the rights of any Loan Party Grantor as against third parties with respect to any CollateralCollateral while such Collateral is in the possession of the Primary Administrative Agent or the Collateral Agent.

Management of the Collateral. Subject to the DIP Orders, each Loan Party further Each Grantor agrees, that, during the continuance of any Event of Default, upon prior written notice by the Administrative Agent to the relevant Grantor or Grantors (i) at the Collateral Administrative Agent’s request (acting at the direction of the Required Lenders)written request, it shall assemble the Collateral and make it available to the Collateral Administrative Agent at places that the Collateral Administrative Agent shall reasonably select, whether at such Loan PartyGrantor’s premises or elsewhere, (ii) without limiting the foregoing, the Collateral Administrative Agent (acting at the direction of the Required Lenders) also has the right to require that each Loan Party Grantor store and keep any Collateral pending further action by the Collateral Administrative Agent and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Administrative Agent is able to sell sell, assign, convey or transfer any Collateral, the Collateral Administrative Agent shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Administrative Agent and (iv) the Collateral Administrative Agent may, at the direction of the Required Lendersif it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Administrative Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Subject to the DIP Orders, the Collateral The Administrative Agent shall not have any obligation to any Loan Party Grantor to maintain or preserve the rights of any Loan Party Grantor as against third parties with respect to any CollateralCollateral while such Collateral is in the possession of the Administrative Agent; provided, however, that the Administrative Agent shall manage and maintain any Collateral in its possession and cause its Related Parties to maintain any Collateral in their possession with the same level of care that a reasonably prudent person would afford its own property.