Collateral Manager Sample Clauses
The Collateral Manager clause defines the role and responsibilities of the party appointed to oversee and manage the collateral assets in a financial transaction or investment structure. This clause typically outlines the manager's authority to make decisions regarding the selection, monitoring, and disposition of collateral, as well as their obligations to act in the best interests of the stakeholders. By clearly specifying the scope of the Collateral Manager's duties and powers, the clause ensures effective management of collateral and helps prevent disputes over asset handling or decision-making authority.
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Collateral Manager. (a) The Borrower, each Subsidiary Guarantor and the Collateral Manager covenant, and the Borrower covenants to cause CDO Holdings IV, to maintain, cause to be maintained (or cause to direct the Collateral Manager to maintain) the Eligible Assets in material compliance with any applicable loan documents (and other material related documents and instruments) for each Underlying Asset such that no material default or event of default by the Borrower, such Subsidiary Guarantor, CDO Holdings IV or the Collateral Manager results thereunder.
(b) The Borrower shall use commercially reasonable efforts to cause the Collateral Manager, and the Collateral Manager shall use commercially reasonable efforts, to provide a Collateral Manager Notice and Agreement to the Lender substantially in the form of Exhibit D hereto (a "Collateral Manager Notice and Agreement") and shall cause any Collateral Manager to acknowledge and agree to the same. Any Collateral Manager (other than NSA or any Collateral Manager appointed pursuant to a right of a third party (other than NSA or any of its affiliates) under an applicable loan document relating to an Underlying Asset) shall be approved in writing by the Lender (such approval not to be unreasonably withheld or delayed) and shall acknowledge and agree to a Collateral Manager Notice and Agreement prior to such successor's assumption of collateral management obligations with respect to the Eligible Assets.
(c) The Borrower shall permit, or cause the Collateral Manager which is an Affiliate of Borrower to permit the Lender from time to time (i) prior to the occurrence and continuance of an Event of Default, during normal business hours and upon reasonable (but no less than three (3) Business Days) prior notice, and (ii) and after the occurrence and continuance of an Event of Default, at any time and without notice, to inspect such Collateral Manager's facilities.
Collateral Manager. 55 12.15 Periodic Due Diligence Review........................................56 12.16
Collateral Manager. All interest and other income from such investments shall be deposited in the Unused Proceeds Account, any gain realized from such investments shall be credited to the Unused Proceeds Account, and any loss resulting from such investments shall be charged to the Unused Proceeds Account. The Trustee shall not in any way be held liable (except as a result of negligence, willful misconduct or bad faith) by reason of any insufficiency of the Unused Proceeds Account resulting from any loss relating to any such investment, except with respect to investments in obligations of the Trustee or any Affiliate thereof. If the Trustee does not receive investment instructions from an Authorized Officer of the Collateral Manager, the Trustee shall invest funds received in the Unused Proceeds Account in Eligible Investments of the type described in clause (ii) of the definition thereto.
Collateral Manager. CM INVESTMENT PARTNERS LLC, as
Collateral Manager. The Collateral Manager has been appointed as Collateral Manager pursuant to the Credit Agreement and this Agreement. The actions of the Collateral Manager hereunder are subject to the provisions of the Credit Agreement and the other Loan Documents. The Collateral Manager 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 action, in accordance with this Agreement and the Credit Agreement, for the benefit of the Secured Parties. The Collateral Manager may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith, excepting therefrom, however, their gross negligence or willful misconduct. Without limiting the foregoing, the Collateral Manager shall be deemed an agent of the Collateral Agent for the purposes of giving effect to the Security Documents (including this Agreement) and the other Loan Documents and the Collateral Agent shall not be liable for the negligence or misconduct of the Collateral Manager.
Collateral Manager. Under the Collateral Management Agreement, the Collateral Manager (acting for or on behalf of the Issuer) is responsible for managing and servicing the Collateral Bonds and the Authorised Investments, including executing the acquisition and disposal of Collateral Bonds and Authorised Investments, in each case, subject to compliance with the applicable provisions of the Security Deed and the Collateral Management Agreement. See further the sections entitled "Description of the Collateral Bond Portfolio" and "Overview of Certain Transaction Documents - Collateral Management Agreement". In undertaking this role, the Collateral Manager may review such available public information relating to the issuers or obligors of Collateral Bonds as it considers appropriate in its absolute discretion. Such review may not include due diligence of the kind common in relation to a primary securities offering. The Issuer has no employees and is dependent on the employees of the Collateral Manager to provide investment management services and to take decisions with respect to the Collateral Bonds and Authorised Investments. As a result, the success of the Issuer is highly dependent on the experience and ability of the Collateral Manager. The composition of the Collateral Bonds will vary over time and therefore the performance of the Collateral Bond Portfolio, and accordingly the performance of any investment in the Notes, depends heavily on the skill and expertise of the Collateral Manager in analysing and making proposals regarding the selection and management of the Collateral Bonds as well as on the skills, expertise and experience of the employees of the Collateral Manager, who are responsible for taking investment decisions. As a result, the Issuer will be highly dependent on the financial and managerial expertise, and experience of certain individuals associated with the Collateral Manager. The loss of one or more of these individuals could have a material adverse effect on the performance of the Collateral Manager to perform its obligations under the Collateral Management Agreement and accordingly, the Issuer under the Notes.
Collateral Manager. The servicing, administering and collection of the Collateral shall be conducted by the Person designated as the Collateral Manager hereunder from time to time in accordance with this Section 6.1. Until the Administrative Agent gives to the Company a Collateral Manager Termination Notice, the Company is hereby designated as, and hereby agrees to perform the duties and responsibilities of, the Collateral Manager pursuant to the terms hereof.
Collateral Manager. “Collateral Manager” shall have the meaning set forth in Section 2.13(a).