Collateral Administration Agreement Clause Samples
A Collateral Administration Agreement is a contract that outlines the responsibilities and procedures for managing and overseeing collateral assets in a financial transaction. Typically, this agreement designates a collateral administrator who is tasked with duties such as monitoring the value of collateral, ensuring compliance with eligibility criteria, and handling the release or substitution of collateral as needed. By clearly defining the roles and processes involved, the agreement helps ensure that collateral is properly managed and that all parties' interests are protected, thereby reducing operational risk and potential disputes.
Collateral Administration Agreement. (i) The Borrower shall not (A) permit the Collateral Administration Agreement to be modified, amended, or terminated, or (B) waive any material duties or obligations of the Collateral Administrator (or any of its permitted assigns) thereunder, in each case, in a manner that adversely affects any Secured Party without the prior written consent of the Administrative Agent.
(ii) Other than a collateral assignment in favor of the Administrative Agent, the Borrower shall not permit either of the Collateral Administration Agreement to be assigned (except to an Affiliate of ▇▇▇▇▇ Fargo Bank, N.A.).
Collateral Administration Agreement. (i) The Borrower shall not (A) permit the Collateral Administration Agreement to be modified, amended, or terminated, or (B) waive any material duties or obligations of the Collateral Administrator (or any of its permitted assigns) thereunder, in each case, in a manner that adversely affects any Secured Party without the prior written consent of the Administrative Agent.
(ii) Other than a collateral assignment in favor of the Administrative Agent, the Borrower shall not permit either of the Collateral Administration Agreement to be assigned (except to an Affiliate of Computershare Trust Company, N.A.).