Additional Collateral Agents Sample Clauses
Additional Collateral Agents. (a) The Collateral Agent may at any time appoint (and subsequently remove) any person to act as a separate trustee or as a co-trustee jointly with it:
(i) if it considers that appointment to be in the interests of the Secured Parties;
(ii) for the purposes of conforming to any legal requirement, restriction or condition which the Collateral Agent deems to be relevant; or
(iii) for obtaining or enforcing any judgment in any jurisdiction, and the Collateral Agent shall give prior notice to the Parent and the Pari Passu Creditors of that appointment.
(b) Any person so appointed shall have the rights, powers, authorities and discretions (not exceeding those given to the Collateral Agent under or in connection with the Debt Documents) and the duties, obligations and responsibilities that are given or imposed by the instrument of appointment.
(c) The remuneration that the Collateral Agent may pay to that person, and any costs and expenses (together with any applicable VAT) incurred by that person in performing its functions pursuant to that appointment shall, for the purposes of this Deed, be treated as costs and expenses incurred by the Collateral Agent.
Additional Collateral Agents. (a) Whenever the Collateral Agent shall deem it necessary or prudent in order either to conform to any law of any jurisdiction in which all or any part of the Collateral shall be situated or to make any claim or bring any suit with respect to the Collateral, or the Collateral Agent shall have been advised by counsel that it is so necessary or prudent in the interests of the Secured Parties, the Collateral Agent shall take such action (including, to the extent required, the execution and delivery of an agreement supplemental hereto and such other instruments and agreements) as may be necessary or proper to constitute another bank or trust company, or one or more Persons approved by the Collateral Agent and, unless an Event of Default has occurred and is continuing, reasonably acceptable to Funding Company, either to act as an additional Collateral Agent of all or any part of the Collateral, jointly with the Collateral Agent, or to act as a separate Collateral Agent or trustee of all or any part of the Collateral (any such additional or separate agent or trustee being herein called an "ADDITIONAL COLLATERAL AGENT"), in any such case with such powers as may be granted pursuant to such action, and to vest in such bank, trust company or Person as an Additional Collateral Agent any property, title, right or power of the Collateral Agent deemed necessary or advisable by the Collateral Agent, subject to the remaining provisions of this SECTION 2.
Additional Collateral Agents. The Collateral Agent may at any time appoint (and subsequently remove) any person to act as a separate trustee or as a co-trustee jointly with it: (i) if it considers that appointment to be in the interests of the Secured Parties; (ii) for the purposes of conforming to any legal requirement, restriction or condition which the Collateral Agent deems to be relevant; or (iii) for obtaining or enforcing any judgment in any jurisdiction, and the Collateral Agent shall give prior notice to the Administrative Borrower and the Loan Parties of that appointment.
Additional Collateral Agents. (a) Whenever the Senior Collateral Agent shall deem it necessary or prudent, the Senior Collateral Agent shall take such action (including, to the extent required, the execution and delivery of an agreement supplemental hereto and such other instruments and agreements) as may be necessary or proper to constitute one or more Persons approved by the Senior Collateral Agent and, unless a Default or Event of Default has occurred and is continuing, (x) if such Additional Collateral Agent is an Affiliate of the Senior Collateral Agent, reasonably acceptable to the Borrower or (y) if such Additional Collateral Agent is not an Affiliate of the Senior Collateral Agent, acceptable to the Borrower in its sole and absolute discretion, either to act as an additional collateral agent of all or any part of the Collateral, jointly with the Senior Collateral Agent, or to act as a separate collateral agent or trustee of all or any part of the Collateral (any such additional or separate agent or trustee being herein called an “Additional Collateral Agent”), in any such case with such powers as may be granted pursuant to such action, and to vest in such Person as an Additional Collateral Agent any property, title, right or power of the Senior Collateral Agent deemed necessary or advisable by the Senior Collateral Agent, subject to the remaining provisions of this Section 10.12. The Senior Collateral Agent may execute, deliver and perform any deed, conveyance, assignment or other instrument in writing as may be required by any Additional Collateral Agent for more fully and certainly vesting in and confirming to it, him or her any property, title, right or power which by the terms of such agreement supplemental hereto is expressed to be conveyed or conferred to or upon such Additional Collateral Agent.
(b) Each Additional Collateral Agent shall, to the extent permitted by law, be appointed and act, and the Senior Collateral Agent shall act, subject to the following provisions and conditions:
(i) all powers, duties, obligations and rights conferred upon the Senior Collateral Agent in respect of the receipt, custody, investment and payment of moneys, shall be exercised solely by the Senior Collateral Agent;
(ii) all other rights, powers, duties and obligations conferred or imposed upon the Senior Collateral Agent shall be conferred or imposed upon and exercised or performed by such Additional Collateral Agent jointly with the Senior Collateral Agent, except to the extent the Seni...
Additional Collateral Agents. 12 Section 2.9 POWER OF ATTORNEY FROM SECURED PARTIES.....................................14 Section 2.10 FUNDING COMPANY AS A SECURED PARTY; TRINIDAD GUARANTOR AS SECURED PARTY.................................................15 Section 2.11 ASSIGNMENT OF RIGHTS, NO ASSUMPTION OF DUTIES..............................15 Section 2.12 EXPERTS AND ADVISERS.......................................................15 Section 2.13 CONCERNING THE COLLATERAL AGENT, COLLATERAL AGENTS, AND COLLATERAL HELD BY COLLATERAL AGENTS...................................................................15 ARTICLE III ADMINISTRATION OF THE COLLATERAL