From and after the Closing Date, no Lender shall, pursuant to any Special Collateral Agreement, have the right to exercise or enforce any of its rights or remedies (including, without limitation, the rights and remedies under (either by suit in equity or by action at law, or both), or to enforce the payment of any Existing Debt Obligation, against, or to exercise any other foreclosure or similar Rights"), all or any portion of any property included in the Special collateral, unless, in the case of any such property (the"Affected Special Collateral"), on or after the date hereof, (x) any Person or Persons holding a Special Prior Lien on such Affected Special Collateral (it being understood for the purpose of this clause (x) that any Lien on any asset or property of any Person shall be deemed to be a Special Prior Lien with respect to any Lien on any Equity Interest (or proceeds thereof or rights therein, including, without limitation, distributions therefrom) of such Person) shall have commenced to exercise Foreclosure Rights against all or any portion of such Affected Special Collateral, (y) at such time as no Lender shall hold a Special Prior Lien in the applicable Affected Special Collateral (or, in the case of clause (B) below, the applicable Special Collateral with respect to which the Lender is proposing to exercise any Foreclosure Rights) (it being understood that for the purpose of this clause (y) any Lien on any asset or property of any Person shall not be deemed to be a special Prior Lien with respect to any Lien on any Equity Interest (or proceeds thereof or rights therein.
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