Kodak 2011 Annual Report Download - page 400

grants, a Lien on such asset to secure the Junior Obligations, with each such Lien to be subject to the provisions of this Agreement. To the extent
that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to the
Secured Parties, the Secured Party to whom such Lien shall have been granted shall, without the need for any further consent of any party to any Loan
Document and notwithstanding anything to the contrary in any other Loan Document, be deemed to hold and have held such Lien for the benefit of all
Secured Parties as security for all Secured Obligations, subject to the priorities set forth in Section 2.1.
2.4 Automatic Release of Liens Securing Junior Obligations . If, in connection with the enforcement or exercise of any Default Remedies
with respect to the Collateral, including any Disposition of Collateral, the Agent for the Senior Secured Parties, for itself and on behalf of the Senior
Secured Parties, releases any of the Liens securing Senior Obligations, the Liens securing Junior Obligations on such Collateral (but not in any proceeds
thereof), shall be automatically, unconditionally and simultaneously released, and the Agent for the Junior Secured Parties shall, for itself and on behalf of
the other Junior Secured Parties, promptly execute and deliver to the Agent for the Senior Secured Parties (or to another Person upon the instruction of such
Agent) such termination statements, releases and other documents as the Agent for the Senior Secured Parties may reasonably request to effectively confirm
such release.
2.5 Nature of Revolver Obligations; Priority Not Affected . The Term Agent, on behalf of itself and the Term Secured Parties,
acknowledges that the Revolver Obligations are revolving in nature and that the amount thereof that may be outstanding at any time or from time to time
may be repaid and reborrowed without affecting the provisions hereof. The priorities provided in Section 2.1 shall not be altered or otherwise affected by
any amendment, modification, supplement or extension of any Secured Obligation, in each case that is permitted under this Agreement, or by repayment
and reborrowing under the Revolver Facility.
2.6 Agreements Regarding Actions to Perfect Liens; Turnover of Collateral . The Agent hereby acknowledges that, to the extent that it
holds, or a third party holds on its behalf, physical possession of or “control” (as defined in the UCC) over Collateral, such possession or control is for the
benefit of all of the Secured Parties. Upon the applicable Discharge Date, the Revolver Agent (in the case of the Revolver Discharge Date) or the Term
Agent (in the case of the Term Discharge Date) shall take such steps, and execute such documents, agreements and instruments, as the Agent representing
the Junior Secured Parties may reasonably request to deliver physical possession or control of the applicable Collateral to such Agent.
2.7 Reinstatement . If, in any Insolvency or Liquidation Proceeding or otherwise, all or part of any payment with respect to the Senior
Obligations or Junior Obligations previously made shall be rescinded for any reason whatsoever,
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