Duties of the Subordination Agent Agreements of Trustees Etc Clause Samples
This clause defines the responsibilities and obligations of the subordination agent, as well as the agreements made by trustees and similar parties involved in a financial arrangement. It typically outlines the agent's role in managing the priority of payments among creditors, ensuring that certain debts are paid before others according to the subordination agreement. For example, the subordination agent may be tasked with distributing funds in accordance with a payment waterfall or enforcing the terms of subordination among various lenders. The core function of this clause is to clarify the authority and duties of the subordination agent and related parties, thereby preventing disputes and ensuring the orderly administration of payment priorities.
Duties of the Subordination Agent Agreements of Trustees Etc. Section 5.01 Notice of Indenture Event of Default or Triggering Event ...................................... 48 Section 5.02 Indemnification ............................................................................... 48 Section 5.03 No Duties Except as Specified in Intercreditor Agreement ...................................... 48 Section 5.04 Notice from the Liquidity Providers and Trustees .............................................. 49
Duties of the Subordination Agent Agreements of Trustees Etc. Section 5.1. Notice of Indenture Default, Indenture Event of Default or Triggering Event
Duties of the Subordination Agent Agreements of Trustees Etc. Section 5.01. Notice of Indenture Event of Default or Triggering Event.........
Duties of the Subordination Agent Agreements of Trustees Etc. Section 5.01 Notice of Indenture Event of Default or Triggering Event.
(a) If the Subordination Agent shall have knowledge of an Indenture Event of Default or a Triggering Event, the Subordination Agent shall promptly give notice thereof to the Rating Agencies, American, the Liquidity Providers and the Trustees by telegram, cable, facsimile or telephone (to be promptly confirmed in writing), unless such Indenture Event of Default or Triggering Event shall have been cured or waived. For all purposes of this Agreement, in the absence of actual knowledge, the Subordination Agent shall not be deemed to have knowledge of any Indenture Event of Default or Triggering Event unless notified in writing by American, one or more Trustees, one or more Liquidity Providers or one or more Certificateholders; and "actual knowledge" (as used in the foregoing clause) of the Subordination Agent shall mean actual knowledge of an officer in the Corporate Trust Office of the Subordination Agent.
Duties of the Subordination Agent Agreements of Trustees Etc. Notice of Indenture Default or Triggering Event . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Section 5.2 Indemnification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48 Section 5.3 No Duties Except as Specified in Intercreditor Agreement . . . . . . . . . . . . . . . . . . . . . . 48 Section 5.4 Notice from the Liquidity Providers and Trustee . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Duties of the Subordination Agent Agreements of Trustees Etc. Section 5.01 Notice of Indenture Default or Triggering Event .................................46 Section 5.02 Indemnification .................................................................46
Duties of the Subordination Agent Agreements of Trustees Etc