Kodak 2011 Annual Report Download - page 542

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, then the Senior Obligations or Junior Obligations, as
applicable, shall be reinstated to the extent of the amount so rescinded and, if theretofore terminated, this Agreement shall be reinstated in full force and
effect and such prior termination shall not diminish, release, discharge, impair or otherwise affect the Lien priorities and the relative rights and obligations
of the Senior Secured Parties and the Junior Secured Parties provided for herein.
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