Collateral Agent Authorization. After the occurrence and during the continuance of any Event of Default 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, Subordinated Obligations and to apply any amounts received thereon to the Obligations, and (ii) to require each Guarantor (A) to collect and enforce, and to submit claims in respect of, Subordinated Obligations and (B) to pay any amounts received on such obligations to the Collateral Agent for application to the Obligations.
Appears in 2 contracts
Samples: Encore Medical, L.P., ReAble Therapeutics Finance LLC
Collateral Agent Authorization. After the occurrence and during the continuance of any Event of Default and after noticeDefault, 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 ObligationsObligations (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 Collateral Agent for application to the ObligationsGuaranteed Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Samples: 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 any an Event of Default and after noticeDefault, 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 ObligationsGuaranteed 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 Collateral Administrative Agent for application to the ObligationsGuaranteed Obligations (including any and all Post-Petition Interest).
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Macquarie Infrastructure Corp), Credit and Guaranty Agreement (Kgen Power Corp)
Collateral Agent Authorization. After the occurrence and during the continuance of any Event of Default and after noticeDefault, 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, Subordinated Obligations and to apply any amounts received thereon to the ObligationsGuaranteed 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, Subordinated Obligations and (B) to pay any amounts received on such obligations to the Collateral Agent for application to the ObligationsGuaranteed Obligations (including any and all Post Petition Interest).
Appears in 1 contract
