Delta Airlines 2012 Annual Report Download - page 293

Collateral or exercise any other right or remedy with respect to the Collateral (including, without limitation, the exercise of
any right of setoff or any right under any lockbox agreement, account control agreement, landlord waiver or bailee's letter or
similar agreement or arrangement) and neither the Junior Lien Representatives nor any holder of Junior Lien Obligations
may authorize or direct the Collateral Trustee with respect to such matters. Notwithstanding the foregoing, the Junior Lien
Representatives and the holders of Junior Lien Obligations may direct the Collateral Trustee:
(1) without any condition or restriction whatsoever, at any time after the Discharge of Priority Lien
Obligations;
(2) as necessary to perfect or establish the priority (subject to Priority Liens and other Permitted
Liens) of the Junior Liens upon any Collateral; provided that, unless otherwise agreed to by the Collateral Trustee in
the Security Documents, the Junior Lien Representatives and the holders of Junior Lien Obligations may not require
the Collateral Trustee to take any action to perfect any Collateral through possession or control except that the
Collateral Trustee may act as agent and as bailee for the benefit of the Junior Lien holders as specified in Section 7.4;
or
(3) as necessary to create, prove, preserve or protect (but not enforce) the Junior Liens upon any
Collateral.
(b) Until the Discharge of Priority Lien Obligations, whether or not any Insolvency or Liquidation Proceeding has
been commenced by or against Delta or any other Grantor, none of the Junior Lien Representatives nor the holders of Junior
Lien Obligations will:
(4) request judicial relief, in an Insolvency or Liquidation Proceeding or in any other court, or take
any other action that in any such case would hinder, delay, limit or prohibit the lawful exercise or enforcement of any
right or remedy otherwise available to the holders of Priority Lien Obligations in respect of the Priority Liens or that
would limit, invalidate, avoid or set aside any Priority Lien or subordinate the Priority Liens to the Junior Liens or
grant the Junior Liens equal ranking to the Priority Liens;
(5) oppose or otherwise contest any motion for relief from the automatic stay or from any injunction
against foreclosure or enforcement of Priority Liens made by any holder of Priority Lien Obligations or any Priority
Lien Representative in any Insolvency or Liquidation Proceedings;
(6) oppose or otherwise contest any lawful exercise by any holder of Priority Lien Obligations or
any Priority Lien Representative of the right to credit bid Priority Lien Debt at any sale of Collateral in foreclosure of
Priority Liens;
(7) oppose or otherwise contest any other request for judicial relief made in any court by any holder
of Priority Lien Obligations or any Priority Lien Representative relating to the lawful enforcement of any Priority
Lien;
(8) contest, protest or object to any foreclosure proceeding or action brought by the Collateral
Trustee, any Priority Lien Representative or any holder of
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