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Exhibit 10.2 NewPage - Executed ABL Agreement

Exhibit 10.2 NewPage - Executed ABL Agreement

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to the relative priorities set forth in Section 2.1 and such actions or proceedings are being<br />

pursued in good faith;<br />

(iii) will not object to the forbearance by Term Loan Agent or the<br />

other Term Loan Secured Parties from commencing or pursuing any foreclosure action or<br />

proceeding or any other enforcement or exercise of any rights or remedies with respect to<br />

any of the Term Loan Priority Collateral;<br />

(iv) will not, so long as the Discharge of Term Loan Debt has not<br />

occurred and except for actions otherwise permitted (x) in accordance with Section<br />

3.1(b)(i)(D) (but subject to the provisions of Sections 4.1 and 4.2) or, (y) in accordance<br />

with Section 6.4 but not in violation of any provision of this <strong>Agreement</strong>, take or receive<br />

any Term Loan Priority Collateral, or any Proceeds thereof or payment with respect<br />

thereto, in connection with the exercise of any right or remedy (including any right of<br />

setoff) with respect to any Term Loan Priority Collateral (it being understood and agreed<br />

that payments made by any Grantor in respect of the Revolving Loan Debt with proceeds<br />

of loans or advances under the Term Loan Documents or, so long as the Revolving Loan<br />

Secured Parties or Term Loan Secured Parties have not commenced enforcement of their<br />

liens, payments made by any Grantor in respect of the Revolving Loan Debt in the<br />

ordinary course of business with proceeds of Revolving Loan Priority Collateral shall not<br />

constitute a breach of this Section 3.1(a)(iv));<br />

(v) agrees that no covenant, agreement or restriction contained in<br />

any Revolving Loan Document shall be deemed to restrict in any way the rights and<br />

remedies of Term Loan Agent or the other Term Loan Secured Parties with respect to the<br />

Term Loan Priority Collateral as set forth in this <strong>Agreement</strong> and the Term Loan<br />

Documents;<br />

(vi) will not object to the manner in which Term Loan Agent or<br />

any other Term Loan Secured Party may seek to enforce or collect the Term Loan Debt<br />

or the Liens of such Term Loan Secured Party on any Term Loan Priority Collateral to<br />

the extent not in violation of this <strong>Agreement</strong>, regardless of whether any action or failure<br />

to act by or on behalf of Term Loan Agent or any other Term Loan Secured Party is, or<br />

could be, adverse to the interests of the Revolving Loan Secured Parties, and will not<br />

assert, and hereby waive, to the fullest extent permitted by law, any right to demand,<br />

request, plead or otherwise assert or claim the benefit of any marshalling, appraisal,<br />

valuation or other similar right that may be available under applicable law with respect to<br />

the Term Loan Priority Collateral or any other rights a junior secured creditor may have<br />

under applicable law with respect to the matters described in this clause (vi) in respect of<br />

Term Loan Priority Collateral; and<br />

(vii) will not attempt, directly or indirectly, whether by judicial<br />

proceeding or otherwise, to challenge or question the validity or enforceability of any<br />

Term Loan Debt or any Lien of Term Loan Agent or this <strong>Agreement</strong> (other than the<br />

challenging the characterization of any item of Collateral as Term Loan Priority<br />

Collateral or Revolving Loan Priority Collateral or whether an asset constitutes Shared<br />

CH\1408709.10<br />

17

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