Common use of The Collateral Agent Clause in Contracts

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each Issuing Bank hereby irrevocably (a) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (b) authorize the Collateral Agent to enter into the other Loan Documents to which it is a party and to perform its duties and obligations thereunder and (c) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18, SECTION 2.22, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other Loan Documents, nor shall it have any fiduciary relationship with any other Secured Party, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (Zale Corp), Credit Agreement (Zale Corp)

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The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRG as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.19, SECTION 2.222.23, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (Wet Seal Inc), Credit Agreement (Wet Seal Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America America, N.A., as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Collateral Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18, SECTION 2.22, or SECTION 7.4, as applicableSection 2.23. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Advanced Audio Concepts, LTD)

The Collateral Agent. (a) Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRG as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.20, SECTION 2.22, Section 2.24 or SECTION 7.4Section 7.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Circuit City Stores Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRG as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.19, SECTION 2.222.23, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Gamestop Corp)

The Collateral Agent. (a) Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder and thereunder, together with all powers reasonably incidental thereto, (ciii) agree and consent to all of the provisions of the Security DocumentsDocuments and (iv) 110 acknowledge and agree that, notwithstanding any provisions of the Loan Documents to the contrary, the Collateral Agent will not obtain a perfected security interest in the Borrowers’ Intellectual Property applied for or registered in jurisdictions outside of the United States or Canada as of the Effective Date. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION Sections 2.18, SECTION 2.22, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Genesco Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRF as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.20, SECTION 2.222.24, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Circuit City Stores Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRF as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.21, SECTION 2.222.24, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Stage Stores Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, Lender and the Administrative Agent and each Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents (including the Intercreditor Agreement) to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.10, SECTION 2.222.14, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Term Loan Agreement (GameStop Corp.)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall shall, subject to the terms of the Collateral Agency Agreement, be paid over to the Administrative Agent for application as provided in SECTION 2.18, SECTION 2.22, SECTIONS 2.23 or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Longs Drug Stores Corp)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Credit Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.21, SECTION 2.222.24, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Stage Stores Inc)

The Collateral Agent. Each LenderThe Lenders, each the Administrative Agent, the Co-Borrowing Base Agent, Agents and the Administrative Agent and each Issuing Bank each hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree agrees and consent consents to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.21, SECTION 2.22, or SECTION 7.4Section 2.22 and Section 7.03, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured Party, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Trans World Entertainment Corp)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank Banks hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION Sections 2.18, SECTION 2.22, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (GameStop Corp.)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (a) designate Bank of America Xxxxx Fargo as Collateral Agent under this Agreement and the other Loan Documents, (b) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (c) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Credit Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.21, SECTION 2.222.24, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Stage Stores Inc)

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The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank Banks hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder and thereunder, together with all powers reasonably incidental thereto, (ciii) agree and consent to all of the provisions of the Security DocumentsDocuments and (iv) acknowledge and agree that, notwithstanding any provisions of the Loan Documents to the contrary, the Collateral Agent will not obtain a perfected security interest in the Borrowers’ intellectual property registered in jurisdictions outside of the United States as of the Closing Date. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION Sections 2.18, SECTION 2.22, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Genesco Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.21, SECTION Section 2.22, or SECTION 7.4Section 2.23 Section 2.25. and Section 7.03, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured Party, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Trans World Entertainment Corp)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, Lender and the Administrative Agent and each Issuing Bank hereby irrevocably (ai) designate Bank of America Back Bay Capital as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Collateral Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.09, SECTION 2.22Section 2.10, or SECTION 7.4and Section 7.03, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Marsh Supermarkets Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America FRF as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.19, SECTION 2.222.23, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Dri I Inc)

The Collateral Agent. (a) Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.20, SECTION 2.22, Section 2.24 or SECTION 7.4Section 7.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Circuit City Stores Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Sections 2.19, SECTION 2.222.23, or SECTION 7.47.03, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Wet Seal Inc)

The Collateral Agent. (a) Each Lender, each Co-Borrowing Base Agent, the Administrative Agent and each the Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder and thereunder, together with all powers reasonably incidental thereto, (ciii) agree and consent to all of the provisions of the Security DocumentsDocuments and (iv) acknowledge and agree that, notwithstanding any provisions of the Loan Documents to the contrary, the Collateral Agent will not obtain a perfected security interest in the Borrowers’ Intellectual Property applied for or registered in jurisdictions outside of the United States or Canada as of the Effective Date. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION Sections 2.18, SECTION 2.22, or SECTION 7.4, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Assignment and Assumption (Genesco Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, Lender and the Administrative Agent and each Issuing Bank hereby irrevocably (ai) designate Bank of America as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Collateral Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18Section 2.21, SECTION Section 2.22, or SECTION 7.4Section 2.25 and Section 7.03, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (American Color Graphics Inc)

The Collateral Agent. Each Lender, each Co-Borrowing Base Agent, Lender and the Administrative Agent and each Issuing Bank hereby irrevocably (ai) designate Bank of America designates SAC as Collateral Agent under this Agreement and the other Loan Documents, (bii) authorize authorizes the Collateral Agent to enter into the Collateral Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder thereunder, together with all powers reasonably incidental thereto, and (ciii) agree agrees and consent consents to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in SECTION 2.18, SECTION 2.22Sections 2.23, or SECTION 7.47.04, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other remaining Loan Documents, nor shall it have any fiduciary relationship with any other Secured PartyLender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Wet Seal Inc)

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