Common use of Co-security Agent Clause in Contracts

Co-security Agent. (a) The Security Trustee may appoint a separate security agent or a co-security agent or co-security trustee in any jurisdiction outside the United States of America: (i) if the Security Trustee considers that without the appointment the interests of the Lenders under the Finance Documents might be materially and adversely affected; (ii) for the purpose of complying with any law, regulation or other condition in any jurisdiction; or (iii) for the purpose of obtaining or enforcing a judgment or enforcing any Finance Document in any jurisdiction. (b) Any appointment under this Subclause will only be effective if the security agent or co-security agent or co-security trustee confirms to the Security Trustee and the Borrower in form and substance satisfactory to the Security Trustee that it is bound by the terms of this Agreement as if it were the Security Trustee. (c) The Security Trustee may remove any security agent or co-security agent or co-security trustee appointed by it and may appoint a new security agent or co-security agent in its place. (d) The Borrower must pay to the Security Trustee any reasonable remuneration paid by the Security Trustee to any security agent or co-security agent or co-security trustee appointed by it, together with any related costs and expenses properly incurred by the security agent or co-security agent or co-security trustee.

Co-security Agent. (a) The Security Trustee Facility Agent may appoint a separate security agent or a co-security agent or co-security trustee in any jurisdiction outside the United States of America: (i) if the Security Trustee Facility Agent considers that without the appointment the interests of the Lenders under the Finance Documents might be materially and adversely affected; (ii) for the purpose of complying with any law, regulation or other condition in any jurisdiction; or (iii) for the purpose of obtaining or enforcing a judgment or enforcing any Finance Document in any jurisdiction. (b) Any appointment under this Subclause will only be effective if the security agent or co-security agent or co-security trustee confirms to the Security Trustee Facility Agent and the Representative Borrower in form and substance satisfactory to the Security Trustee that it is bound by the terms of this Agreement as if it were the Security TrusteeFacility Agent by executing and delivering to the Facility Agent an accession agreement in a form to be agreed between the Representative Borrower and the Facility Agent. (c) The Security Trustee Facility Agent may remove any security agent or co-security agent or co-security trustee appointed by it and may appoint a new security agent or co-security agent in its place. (d) The Borrower Borrowers must pay to the Security Trustee Facility Agent any reasonable remuneration agreed by the Representative Borrower paid by the Security Trustee Facility Agent to any security agent or co-security agent or co-security trustee appointed by it, together with any related costs and expenses properly incurred by the security agent or co-security agent or co-security trusteeagent.