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Exhibit 10.2 NewPage - Executed ABL Agreement

Exhibit 10.2 NewPage - Executed ABL Agreement

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2.5 Affiliate Obligations. The parties hereto acknowledge and agree that the<br />

Shared Collateral may secure Revolving Loan Bank Product Obligations on a pari passu basis<br />

with the Liens on the Shared Collateral securing other Revolving Loan Debt and that the Shared<br />

Collateral may secure Term Loan Bank Product Obligations on a pari passu basis with the Liens<br />

on the Shared Collateral securing other Term Loan Debt but that the applicable Affiliate<br />

Obligations may only be secured by a first priority Lien on either the Revolving Loan Priority<br />

Collateral or the Term Loan Priority Collateral (but not both). Revolving Loan Agent agrees to<br />

provide the Term Loan Agent a copy of a notice or designation whereby an obligation is<br />

designated as a Revolving Loan Bank Product Obligation under the Revolving Loan <strong>Agreement</strong><br />

reasonably promptly upon Revolving Loan Agent’s receipt thereof, and the Term Loan Agent<br />

agrees to provide the Revolving Loan Agent a copy of a notice or designation whereby an<br />

obligation is designated as a Term Loan Bank Product Obligation under the Term Loan<br />

<strong>Agreement</strong> reasonably promptly upon Term Loan Agent’s receipt thereof. If an obligation is<br />

designated as both a Revolving Loan Bank Product Obligation and a Term Loan Bank Product<br />

Obligation, such obligation shall constitute that Affiliate Obligation which it was designated first<br />

in time.<br />

Section 3.<br />

Enforcement<br />

3.1 Exercise of Rights and Remedies.<br />

(a) So long as the Discharge of Revolving Loan Debt has not<br />

occurred, whether or not any Insolvency Proceeding has been commenced by or against any<br />

Grantor, Term Loan Agent, for itself and on behalf of the other Term Loan Secured Parties:<br />

(i) will not enforce or exercise, or seek to enforce or exercise, any<br />

rights or remedies (including any right of setoff or notification of account debtors) with<br />

respect to any Revolving Loan Priority Collateral (including the enforcement of any right<br />

under any lockbox agreement, account control agreement, landlord waiver or bailee’s<br />

letter or any similar agreement or arrangement to which the Term Loan Agent or any<br />

other Term Loan Secured Party is a party) or commence or join with any Person (other<br />

than Revolving Loan Agent with its consent) in commencing, or filing a petition for, any<br />

action or proceeding with respect to such rights or remedies (including any foreclosure<br />

action), except, that, Term Loan Agent or any other Term Loan Secured Party may<br />

commence or join with any Person in commencing, or filing a petition to commence, an<br />

Insolvency Proceeding; and except, that, subject at all times to the provisions of Section 4<br />

of this <strong>Agreement</strong> and to Section 3.1(a)(ii) of this <strong>Agreement</strong>, Term Loan Agent may<br />

enforce or exercise any or all such rights and remedies as to any Revolving Loan Priority<br />

Collateral commencing one hundred eighty (180) days after the date of the receipt by<br />

Revolving Loan Agent of written notice from Term Loan Agent of the declaration by<br />

Term Loan Secured Parties of a Term Loan Event of Default in accordance with the<br />

terms of the Term Loan Documents (as in effect on the date hereof) that is continuing and<br />

the written demand by Term Loan Secured Parties of the immediate payment in full of all<br />

of the Term Loan Debt under the Term Loan Documents so long as such Term Loan<br />

Event of Default has not been cured or waived (such period being referred to herein as<br />

the “Term Loan Standstill Period”); provided, that,<br />

CH\1408709.10<br />

12

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