Delta Airlines 2012 Annual Report Download - page 300

(5) remit as provided in Section 3.4 all cash proceeds received by the Collateral Trustee from the
collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its
other interests, rights, powers or remedies;
(6) execute and deliver amendments to the Security Documents as from time to time authorized
pursuant to Section 7.1 accompanied by an Officers' Certificate to the effect that the amendment was permitted under
Section 7.1; and
(7) release any Lien granted to it by any Security Document upon any Collateral if and as required
by Section 4.1(a) and, in connection with any request for execution and delivery of any documents evidencing such
release, subject to satisfaction of the conditions set forth in Section 4.1(b).
(b) Each party to this Agreement acknowledges and consents to the undertaking of the Collateral Trustee
set forth in Section 3.1(a) and agrees to each of the other provisions of this Agreement applicable to the Collateral Trustee.
(c) Notwithstanding anything to the contrary contained in this Agreement, the Collateral Trustee will not
commence any exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the
Collateral (other than actions as necessary to prove, protect or preserve the Liens securing the Secured Debt Obligations)
unless and until it shall have been directed by written notice of an Act of Required Debtholders and then only in accordance
with the provisions of this Agreement.
(d) Notwithstanding anything to the contrary contained in this Agreement, no Junior Lien Representative or
Priority Lien Representative may serve as Collateral Trustee.
SECTION 3.2 Release or Subordination of Liens . The Collateral Trustee will not release or subordinate any
Lien of the Collateral Trustee or consent to the release or subordination of any Lien of the Collateral Trustee, except:
(a) as directed by an Act of Required Debtholders accompanied by an Officers' Certificate to the effect that
the release or subordination was permitted by each applicable Secured Debt Document;
(b) as required by Article 4;
(c) as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of
competent jurisdiction; or
(d) for the subordination of the Junior Trust Estate and the Junior Liens to the Senior Trust Estate and the
Priority Liens as provided for herein.
SECTION 3.3 Enforcement of Liens
. If the Collateral Trustee at any time receives written notice that any event
has occurred that constitutes a default or an event of default under any Secured Debt Document entitling the Collateral
Trustee to foreclose upon, collect or otherwise enforce any of its Liens under the Security Documents, the Collateral Trustee
will
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