Extract to table

"Controlling Secured Parties" means, with respect to any parcel of Shared Collateral, the Revolving Secured Parties, which, by virtue of the Super-Senior status of the Revolving Credit Obligations as described herein, shall have the exclusive right to direct and control Enforcement Actions with respect to the Shared Collateral, subject to the provisions of Article IV

(b) References to German legal concepts and instruments used herein shall be construed in accordance with the laws of the Federal Republic of Germany to the extent applicable

(c) In the event of any conflict between the provisions of this Agreement and the provisions of any Credit Agreement or any security document, the provisions of this Agreement shall control as between the Authorized Representatives and the Secured Parties

03 — Governing Law (a) This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, without regard to the conflict of laws principles thereof (other than Section 5-1401 of the New York General Obligations Law, which shall apply)

(b) The German Security Documents and all rights and obligations thereunder shall be governed by the laws of the Federal Republic of Germany, as provided in such German Security Documents

Nothing in this Agreement shall be construed to override, supersede, or conflict with the governing law provisions contained in any German Security Document, provided that, as among the parties hereto, the relative priority, application of proceeds, and enforcement provisions of this Agreement shall control to the extent permitted by applicable law