Common use of Additional Collateral Agent Clause in Contracts

Additional Collateral Agent. The Collateral Agent may at any time appoint (and subsequently remove) any person to act as a separate Collateral Agent or as a cotrustee jointly with it (any such person, an “Additional Collateral Agent”): (a) if it is necessary in performing its duties and if the Collateral Agent considers that appointment to be in the interest of the Secured Parties; or (b) for the purposes of complying with or confirming to any legal requirements, restrictions or conditions which the Collateral Agent deems to be relevant; or (c) for the purposes of obtaining or enforcing any judgment or decree in any jurisdiction, and the Collateral Agent will give notice to the Administrative Borrower and the Administrative Agent of any such appointment.

Additional Collateral Agent. The Collateral Agent may at any time appoint (and subsequently remove) any person to act as a separate Collateral Agent or as a cotrustee co-trustee jointly with it (any such person, an “Additional Collateral Agent”): (a) if it is necessary in performing its duties and if the Collateral Agent considers that appointment to be in the interest of the Secured Parties; or (b) for the purposes of complying with or confirming to any legal requirements, restrictions or conditions which the Collateral Agent deems to be relevant; or (c) for the purposes of obtaining or enforcing any judgment or decree in any jurisdiction, and the Collateral Agent will give notice to the Administrative Borrower and the Administrative Agent of any such appointment.