Notwithstanding Section 3. 1.1 above, any right or remedy set forth in clauses (a) through (i) thereof may be exercised and any such action may be taken, authorized or instructed by the Bank Agent or the Indenture Trustee: (a) after Discharge of the FF&E Facility; (b) as necessary, to deliver any notice or demand necessary to enforce any right to claim, take or receive proceeds of any FF&E Component Collateral remaining after the Discharge of the FF&E Secured Obligations in the event of foreclosure or other enforcement of any lien securing the FF&E Secured Obligations, so long as, in any of the foregoing cases, any such actions are not adverse to the grant, perfection, priority or enforcement of the liens upon the FF&E Component Collateral securing the FF&E Secured Obligations, the value of the FF&E Component Collateral or the rights of the FF&E Agent and the FF&E Lenders in and to the FF&E Component Collateral; (c) as necessary to perfect a subordinate lien upon any FF&E Component Collateral by any method of perfection except through possession or control; (d) subject to all the other provisions of this Agreement, as necessary to prove (but not enforce) the liens securing the Bank Secured Obligations or the Second Mortgage Notes Obligations upon the FF&E Component Collateral or as necessary to preserve or protect (but not enforce) such liens upon the FF&E Component Collateral (excluding any claim for adequate protection) in any manner that is not adverse to the grant, perfection, priority or enforcement of liens upon the FF&E Component Collateral securing the FF&E Secured Obligations, the value of the FF&E Component Collateral or the rights of the FF&E Agent and the FF&E Lenders in and to the FF&E Component Collateral; or (e) after obtaining the prior written consent of the FF&E Agent, which consent shall be subject to the FF&E Agent's sole discretion.
Appears in 2 contracts
Sources: Intercreditor Agreement (Wynn Resorts LTD), Intercreditor Agreement (Wynn Las Vegas LLC)