The Term Loan Agent (on behalf of the exercising Term Loan Creditors (the Revolving Credit Obligations Purchaser)) shall exercise this option by giving written notice (the Term Loan Agents Purchase Notice) of its election to the Revolving Agent within ten (10) Business Days following the delivery to the Term Loan Agent of such notice.
The Term Loan Agents Purchase Notice, once delivered, shall be irrevocable and shall not be subject to withdrawal or rescission.
This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the Revolving Credit Agents and the other Revolving Credit Claimholders and each of the Term Loan Agents and the other Term Loan Claimholders.
The rights of the Revolving Loan Agent to such Pledged Collateral shall at all times be subject to the terms of this Agreement and to the Term Loan Agent's rights under the Term Loan Documents.
Each Revolving Credit Agent, on behalf of itself and the other Revolving Credit Claimholders, hereby waives any and all rights to have the Term Loan Priority Collateral, or any part thereof, marshaled upon any foreclosure or other enforcement of any Term Loan Agents Liens on the Term Loan Priority Collateral.