Examples of U.S. Security Documents in a sentence
Each Lender and L/C Issuer hereby consents to the automatic release and hereby directs the Administrative Agent and the U.S. Collateral Agents, as applicable, to release or subordinate any Lien held by the U.S. Collateral Agents for the benefit of the U.S. Secured Parties in accordance with the U.S. Security Documents.
The Liens granted to Administrative Agent pursuant to the U.S. Security Documents for the benefit of the Secured Parties (i) have been validly created, (ii) will attach to each item of Collateral owned by U.S. Borrowers on the Closing Date and (iii) when so attached, will secure all the Obligations.
The U.S. Collateral Agent shall have no duties or responsibilities except those expressly set forth in this Agreement, the U.S. Security Documents, and the U.S. Collateral Agent shall not by reason of this Agreement or the U.S. Security Documents be a trustee for any U.S. Secured Party or have any other fiduciary obligation to any U.S. Secured Party (including any obligation under the Trust Indenture Act of 1939, as amended).
The Administrative Agent, in its capacity as security agent under the US Security Documents, shall have all the powers of an absolute owner of the security constituted by the US Security Documents and all the rights and powers granted to it by the US Security Documents.
Notwithstanding any other provision of this Agreement, the US Lenders and the Administrative Agent have also appointed the Administrative Agent as security agent under and pursuant to the US Security Documents.