Law360, New York (August 5, 2016, 3:48 PM EDT) -- The standstill refers to the agreement by the holder of a lien on collateral (typically the holder of the subordinate lien), to forbear or "standstill" from exercising its remedies against the collateral subject to the lien of another creditor after a default under the agreements of the lien holder with the borrower. A fundamental discussion in the negotiation of any intercreditor agreement is to address those circumstances in which the second-lien lender may not exercise its rights and remedies against the collateral in order to obtain payment of the second-lien debt so that the first-lien lender is in control of the process of dealing with the distressed borrower. While the scope of the standstill in the context of lien subordination may include limitations on remedies other than just those against the collateral, the focus is typically on limiting actions against the collateral....