Collateral Agent Acknowledgement Sample Clauses
The Collateral Agent Acknowledgement clause formally recognizes the appointment and authority of a collateral agent to act on behalf of secured parties in a financing arrangement. This clause typically outlines the agent's powers to hold, manage, and enforce security interests in collateral provided by the borrower, and may specify the agent's rights to take action in the event of default. Its core practical function is to ensure that all parties agree on the agent's role, thereby streamlining the administration and enforcement of security interests and reducing the risk of disputes among lenders.
Collateral Agent Acknowledgement. The Pledgor acknowledges receipt of an executed copy of this Agreement. The Pledgor waives the right to receive any amount that it may now or hereafter be entitled to receive (whether by way of damages, fine, penalty, or otherwise) by reason of the failure of the Collateral Agent to deliver to the Pledgor a copy of any financing statement or any statement issued by any registry that confirms registration of a financing statement relating to this Agreement.
Collateral Agent Acknowledgement. The Collateral Agent acknowledges the foregoing Grant and accepts the trusts hereunder in accordance with the provisions hereof.
Collateral Agent Acknowledgement. The Pledgor acknowledges receipt of an executed copy of this Agreement.