Common use of Collateral Agent As Agent Clause in Contracts

Collateral Agent As Agent. Collateral Agent has been appointed to act as Collateral Agent hereunder by Secured Parties under Section 3.1 of the Intercreditor Agreement and Bankers has been authorized by the Secured Parties to act as the agent of the Collateral Agent pursuant to Section 2.7 of the Intercreditor Agreement. Collateral Agent shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Collateral), solely in accordance with this Agreement and the Intercreditor Agreement.