In the event of any loss affecting any Collateral, the Lender having a senior Lien in the Collateral under this Agreement shall, subject to the Borrower’s rights under the relevant Loan Agreement with respect to such Collateral, have the sole and exclusive right, to adjust settlement of any insurance policy applicable to such Collateral. All proceeds of such insurance applicable to such Collateral shall (subject to the Borrower’s rights under the relevant Loan Agreement with respect to such Collateral) be applied in the same manner set forth in Sections 4.2, 4.3 and 4.4 with respect to such Collateral itself and other Proceeds thereof.