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Exhibit 10.2 NewPage - Executed ABL Agreement

Exhibit 10.2 NewPage - Executed ABL Agreement

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(iii) promptly upon the request of the Senior Agent, execute and<br />

deliver (x) such other release documents and confirmations of the authorization to file<br />

UCC amendments and terminations provided for herein, and (y) such consent and waiver<br />

documents and instruments, in each case as the Senior Agent may require in connection<br />

with such sale or other Disposition, to evidence and effectuate such termination and<br />

release, the consent of the Junior Agent (on behalf of itself and the Secured Parties for<br />

whom such Agent is acting) to such Disposition, and the waiver of any conflicting<br />

provisions in the Revolving Loan Documents or the Term Loan Documents, as the case<br />

may be; provided, that, any such release or UCC amendment or termination or consent or<br />

waiver by or on behalf of the Junior Agent shall not extend to or otherwise affect any of<br />

the rights, if any, of such Junior Agent to the Proceeds from any such sale or other<br />

disposition of Shared Collateral upon the payment and satisfaction in full of the<br />

Revolving Loan Debt or the Term Loan Debt, as the case may be, whichever is secured<br />

by the senior Lien on such Shared Collateral.<br />

(b) Each Agent, for itself and on behalf of the other Secured Parties<br />

for whom such Agent is acting, in its capacity as Junior Agent, hereby irrevocably constitutes<br />

and appoints the other Agent, in its capacity as Senior Agent, and any officer or agent of such<br />

Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable<br />

power and authority in the place and stead of such Junior Agent or such holder or in the Junior<br />

Agent’s own name, from time to time in such Senior Agent’s discretion, for the purpose of<br />

carrying out the terms of this Section 3.2, to take any and all appropriate action and to execute<br />

any and all documents and instruments which may be necessary or desirable to accomplish the<br />

purposes of this Section 3.2, including any waivers or consents or termination statements,<br />

endorsements, or other instruments of transfer or release. Nothing contained in this <strong>Agreement</strong><br />

shall be construed to modify the obligation of the Senior Agent to act in a commercially<br />

reasonable manner in the exercise of its rights to sell, lease, license, exchange, transfer or<br />

otherwise dispose of any Collateral.<br />

(c) In the event that Proceeds of Shared Collateral are received in<br />

connection with a Disposition of Shared Collateral that directly or indirectly involves both some<br />

or all of the Revolving Loan Priority Collateral and some or all of the Term Loan Priority<br />

Collateral, the Revolving Loan Agent and the Term Loan Agent shall use commercially<br />

reasonable efforts in good faith to allocate the Proceeds received in connection with such<br />

Disposition of such Shared Collateral to the Revolving Loan Priority Collateral and the Term<br />

Loan Priority Collateral. If the Revolving Loan Agent and Term Loan Agent are unable to agree<br />

on such allocation within ten (10) Business Days (or such other period of time as Revolving<br />

Loan Agent and Term Loan Agent agree) of the consummation of such Disposition, the portion<br />

of such Proceeds that shall be allocated as Proceeds of Revolving Loan Priority Collateral for<br />

purposes of this <strong>Agreement</strong> shall be an amount equal to the sum of the book value of the<br />

Accounts, Inventory and cash included in the Shared Collateral subject to such Disposition<br />

(determined at the time of such Disposition) with the balance of the Proceeds to be allocated to<br />

the Term Loan Priority Collateral; provided, that, to the extent that the Revolving Loan Priority<br />

Collateral subject to such Disposition may include assets other than Accounts, Inventory and<br />

cash, at the option of Revolving Loan Agent, the appraised value of such other assets may be<br />

used for the purposes of the allocation of such Proceeds to the Revolving Loan Priority<br />

Collateral based on the then most current satisfactory third party appraisal received by Revolving<br />

CH\1408709.10<br />

21

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