Collateral Agent Authorization. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (A) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (B) to require each Subsidiary Guarantor (1) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).
Appears in 3 contracts
Samples: Guarantee and Security Agreement (NeuMedia, Inc.), Guarantee and Security Agreement (NeuMedia, Inc.), Guarantee and Security Agreement (Mandalay Media, Inc.)
Collateral Agent Authorization. Upon Subject to the Intercreditor Agreement and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Samples: Collateral Agreement (Anywhere Real Estate Group LLC), Collateral Agreement (Realogy Holdings Corp.)
Collateral Agent Authorization. Upon After the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (A) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (B) to require each Subsidiary Guarantor (1) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Samples: Guaranty and Security Agreement (Vyyo Inc), Guaranty and Security Agreement (Vyyo Inc)
Collateral Agent Authorization. Upon Subject to the Intercreditor Agreements and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Post- Exhibit 10.11 Petition Interest).
Appears in 1 contract
Collateral Agent Authorization. Upon After the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretiondiscretion (acknowledging the terms of the Intercreditor Agreement), (Ai) in the name of each Subsidiary Guarantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest)) in each case in accordance with the terms of the Intercreditor Agreement.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Berry Global Group Inc)
Collateral Agent Authorization. Upon Subject to the Intercreditor Agreements and after the occurrence and during the continuance of any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its reasonable discretion, (Ai) in the name of each Subsidiary GuarantorGrantor, to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and to apply any amounts received thereon to the Guaranteed Secured Obligations (including any and all Post-Petition Interest), and (Bii) to require each Subsidiary Guarantor Grantor (1A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (2B) to pay any amounts received on such obligations to the Collateral Agent for application to the Guaranteed Secured Obligations (including any and all Post-Petition Interest).
Appears in 1 contract
Samples: Collateral Agreement (Realogy Corp)