Collateral Agent Authorization. After the occurrence and during the continuance of an Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each 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 (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Macquarie Infrastructure Corp), First Lien Credit and Guaranty Agreement (Kgen Power Corp)
Collateral Agent Authorization. After the occurrence and during the continuance of an any Event of Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each 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 (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Sources: First Lien Guarantee and Collateral Agreement (Covalence Specialty Adhesives LLC), Guarantee and Collateral Agreement (Noranda Aluminum Acquisition CORP)
Collateral Agent Authorization. After the occurrence and during the continuance of an any Event of DefaultDefault and after notice, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each 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)Obligations, and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Petition Interest)Obligations.
Appears in 2 contracts
Sources: Guaranty (ReAble Therapeutics Finance LLC), Guaranty (Encore Medical, L.P.)
Collateral Agent Authorization. After the occurrence and during the continuance of an Event of any Default, the Collateral Agent is authorized and empowered (but without any obligation to so do), in its discretion, (i) in the name of each 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-Post Petition Interest), and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, the Subordinated Obligations and (B) to pay any amounts received on such obligations to the Administrative Collateral Agent for application to the Guaranteed Obligations (including any and all Post-Post Petition Interest).
Appears in 1 contract