Common use of Notice of Exercise of Second Liens Clause in Contracts

Notice of Exercise of Second Liens. Each Second Lien Lender agrees that upon termination of the Standstill Period or such longer period as provided in Section 3.02(a), if any Second Lien Lender or the Second Lien Collateral Agent or other representative of such Second Lien Lender intends to commence any Enforcement Action, then such Second Lien Lender or the Second Lien Collateral Agent or other representative shall promptly deliver notice thereof in writing to the First Lien Collateral Agent. Any such notice may be given during the Standstill Period.