{"component": "clause", "props": {"groups": [{"size": 83, "snippet": "Each of the Lenders and the Administrative Agent hereby designate and appoint the Collateral Agent to act as its agent for the purposes of perfection of a security interest in the Collateral and hereby authorizes the Collateral Agent to take such actions on its behalf and on behalf of each of the Secured Parties and to exercise such powers and perform such duties as are expressly granted to the Collateral Agent by this Agreement. The Collateral Agent hereby accepts such agency appointment to act as Collateral Agent pursuant to the terms of this Agreement, until its resignation or removal as Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "each-of-the-lenders", "type": "clause", "offset": [0, 19]}, {"key": "the-administrative-agent", "type": "definition", "offset": [24, 48]}, {"key": "agent-to-act", "type": "clause", "offset": [93, 105]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [119, 138]}, {"key": "security-interest-in-the-collateral", "type": "clause", "offset": [155, 190]}, {"key": "on-behalf-of", "type": "definition", "offset": [273, 285]}, {"key": "the-secured-parties", "type": "clause", "offset": [294, 313]}, {"key": "to-exercise", "type": "clause", "offset": [318, 329]}, {"key": "granted-to", "type": "definition", "offset": [383, 393]}, {"key": "by-this-agreement", "type": "clause", "offset": [415, 432]}, {"key": "appointment-to", "type": "clause", "offset": [482, 496]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [537, 560]}, {"key": "resignation-or-removal", "type": "clause", "offset": [572, 594]}], "samples": [{"hash": "kC5OpUQQnKY", "uri": "/contracts/kC5OpUQQnKY#initial-collateral-agent", "label": "Loan and Servicing Agreement (Diameter Credit Co)", "score": 37.2299804688, "published": true}, {"hash": "xU1PqsVgzk", "uri": "/contracts/xU1PqsVgzk#initial-collateral-agent", "label": "Loan and Servicing Agreement (HPS Corporate Lending Fund)", "score": 36.9753608704, "published": true}, {"hash": "9er7Q0dZE3O", "uri": "/contracts/9er7Q0dZE3O#initial-collateral-agent", "label": "Loan and Servicing Agreement (BlackRock TCP Capital Corp.)", "score": 36.5811080933, "published": true}], "hash": "9a9b651e58d22bcf99bca1f1ac446258", "id": 1}, {"size": 18, "snippet": "The role of the Collateral Agent hereunder and under the other Transaction Documents to which the Collateral Agent is a party shall be conducted by the Person designated as Collateral Agent hereunder from time to time in accordance with this Section 7.1. Until the Administrative Agent shall give to U.S. Bank a Collateral Agent Termination Notice, U.S. Bank is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of, Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "agent-hereunder", "type": "clause", "offset": [27, 42]}, {"key": "other-transaction-documents", "type": "definition", "offset": [57, 84]}, {"key": "a-party", "type": "clause", "offset": [118, 125]}, {"key": "from-time-to-time", "type": "clause", "offset": [200, 217]}, {"key": "in-accordance-with", "type": "clause", "offset": [218, 236]}, {"key": "section-71", "type": "definition", "offset": [242, 253]}, {"key": "agent-shall", "type": "definition", "offset": [280, 291]}, {"key": "collateral-agent-termination-notice", "type": "definition", "offset": [312, 347]}, {"key": "agrees-to", "type": "clause", "offset": [423, 432]}, {"key": "obligations-of", "type": "clause", "offset": [456, 470]}, {"key": "pursuant-to-the-terms", "type": "clause", "offset": [489, 510]}], "samples": [{"hash": "3wRxuixfY8F", "uri": "/contracts/3wRxuixfY8F#initial-collateral-agent", "label": "Loan and Security Agreement (Palmer Square Capital BDC Inc.)", "score": 36.8439407349, "published": true}, {"hash": "gQNOtXZTewS", "uri": "/contracts/gQNOtXZTewS#initial-collateral-agent", "label": "Loan and Security Agreement (Palmer Square Capital BDC Inc.)", "score": 34.9657783508, "published": true}, {"hash": "bCc5bN417sT", "uri": "/contracts/bCc5bN417sT#initial-collateral-agent", "label": "Loan and Security Agreement (Palmer Square Capital BDC Inc.)", "score": 34.2785758972, "published": true}], "hash": "dfc8066a1030ec5838e349273d1679b3", "id": 2}, {"size": 14, "snippet": "Each of the Lenders and the Administrative Agent hereby designate and appoint SMBC as the Collateral Agent to act as its agent for the purposes of perfection of a security interest in the Collateral Portfolio and hereby authorizes the Collateral Agent to take such actions on its behalf and on behalf of each of the Secured Parties and to exercise such powers and perform such duties as are expressly granted to the Collateral Agent by this Agreement. The Collateral Agent hereby accepts such agency appointment to act as Collateral Agent pursuant to the terms of this Agreement, until its resignation or removal as Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "each-of-the-lenders", "type": "clause", "offset": [0, 19]}, {"key": "the-administrative-agent", "type": "definition", "offset": [24, 48]}, {"key": "agent-to-act", "type": "clause", "offset": [101, 113]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [127, 146]}, {"key": "collateral-portfolio", "type": "definition", "offset": [188, 208]}, {"key": "on-behalf-of", "type": "definition", "offset": [291, 303]}, {"key": "the-secured-parties", "type": "clause", "offset": [312, 331]}, {"key": "to-exercise", "type": "clause", "offset": [336, 347]}, {"key": "granted-to", "type": "definition", "offset": [401, 411]}, {"key": "by-this-agreement", "type": "clause", "offset": [433, 450]}, {"key": "appointment-to", "type": "clause", "offset": [500, 514]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [555, 578]}, {"key": "resignation-or-removal", "type": "clause", "offset": [590, 612]}], "samples": [{"hash": "enRX7JCjPXR", "uri": "/contracts/enRX7JCjPXR#initial-collateral-agent", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 33.8761138916, "published": true}, {"hash": "2AC9Dm53egE", "uri": "/contracts/2AC9Dm53egE#initial-collateral-agent", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 31.918548584, "published": true}, {"hash": "ZsLeFj48qa", "uri": "/contracts/ZsLeFj48qa#initial-collateral-agent", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 30.1581115723, "published": true}], "hash": "0ee896f68dacd08b72b1ffca6acf8806", "id": 3}, {"size": 12, "snippet": "The role of Collateral Agent with respect to the Underlying Instruments shall be conducted by the Person designated as Collateral Agent hereunder from time to time in accordance with this Section 7.1. Until the Administrative Agent shall give to \u2587\u2587\u2587\u2587\u2587 Fargo a Collateral Agent Termination Notice, \u2587\u2587\u2587\u2587\u2587 Fargo is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of, Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "role-of-collateral-agent", "type": "clause", "offset": [4, 28]}, {"key": "with-respect-to", "type": "clause", "offset": [29, 44]}, {"key": "underlying-instruments", "type": "definition", "offset": [49, 71]}, {"key": "agent-hereunder", "type": "clause", "offset": [130, 145]}, {"key": "from-time-to-time", "type": "clause", "offset": [146, 163]}, {"key": "in-accordance-with", "type": "clause", "offset": [164, 182]}, {"key": "section-71", "type": "definition", "offset": [188, 199]}, {"key": "agent-shall", "type": "definition", "offset": [226, 237]}, {"key": "collateral-agent-termination-notice", "type": "definition", "offset": [260, 295]}, {"key": "agrees-to", "type": "clause", "offset": [373, 382]}, {"key": "obligations-of", "type": "clause", "offset": [406, 420]}, {"key": "pursuant-to-the-terms", "type": "clause", "offset": [439, 460]}], "samples": [{"hash": "e5i1UID9Ei", "uri": "/contracts/e5i1UID9Ei#initial-collateral-agent", "label": "Loan and Security Agreement (Crescent Capital BDC, Inc.)", "score": 34.180015564, "published": true}, {"hash": "i8DOKhbZClu", "uri": "/contracts/i8DOKhbZClu#initial-collateral-agent", "label": "Loan and Security Agreement (Crescent Capital BDC, Inc.)", "score": 32.4880218506, "published": true}, {"hash": "arfToN5IFqF", "uri": "/contracts/arfToN5IFqF#initial-collateral-agent", "label": "Loan and Security Agreement (Crescent Capital BDC, Inc.)", "score": 32.4880218506, "published": true}], "hash": "3c39c8987ec89e837eddc42a53ad349f", "id": 4}, {"size": 6, "snippet": "The role of Collateral Agent with respect to the Underlying Instruments shall be conducted by the Person designated as Collateral Agent hereunder from time to time in accordance with this Section 7.1. Until the Administrative Agent shall give Deutsche Bank a Collateral Agent Termination Notice, Deutsche Bank is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of, Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "role-of-collateral-agent", "type": "clause", "offset": [4, 28]}, {"key": "with-respect-to", "type": "clause", "offset": [29, 44]}, {"key": "underlying-instruments", "type": "definition", "offset": [49, 71]}, {"key": "agent-hereunder", "type": "clause", "offset": [130, 145]}, {"key": "from-time-to-time", "type": "clause", "offset": [146, 163]}, {"key": "in-accordance-with", "type": "clause", "offset": [164, 182]}, {"key": "section-71", "type": "definition", "offset": [188, 199]}, {"key": "agent-shall", "type": "definition", "offset": [226, 237]}, {"key": "collateral-agent-termination-notice", "type": "definition", "offset": [259, 294]}, {"key": "agrees-to", "type": "clause", "offset": [374, 383]}, {"key": "obligations-of", "type": "clause", "offset": [407, 421]}, {"key": "pursuant-to-the-terms", "type": "clause", "offset": [440, 461]}], "samples": [{"hash": "5auPWQal69O", "uri": "/contracts/5auPWQal69O#initial-collateral-agent", "label": "Loan and Security Agreement (Oaktree Specialty Lending Corp)", "score": 35.3874053955, "published": true}, {"hash": "fGtkxPqG8Ju", "uri": "/contracts/fGtkxPqG8Ju#initial-collateral-agent", "label": "Loan and Security Agreement (Oaktree Specialty Lending Corp)", "score": 34.4072570801, "published": true}, {"hash": "arWsJsXPJnM", "uri": "/contracts/arWsJsXPJnM#initial-collateral-agent", "label": "Loan and Security Agreement (Oaktree Specialty Lending Corp)", "score": 34.0595474243, "published": true}], "hash": "92a3c13cfba805715ce7774af6eb151a", "id": 5}, {"size": 4, "snippet": "The role of Collateral Agent shall be conducted by the Person designated as Collateral Agent hereunder from time to time in accordance with this Section 10.01. Each of the Collateral Custodian, the Bank, the Lender and the Administrative Agent hereby designate and appoint SMBC as the Collateral Agent to act as its agent for the purposes of perfection of a security interest in the Collateral Portfolio and hereby authorizes the Collateral Agent to take such actions on its behalf and on behalf of each of the Secured Parties and to exercise such powers and perform such duties as are expressly granted to the Collateral Agent by this Agreement. The Collateral Agent hereby accepts such agency appointment to act as Collateral Agent pursuant to the terms of this Agreement, until its resignation or removal as Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "agent-shall", "type": "definition", "offset": [23, 34]}, {"key": "agent-hereunder", "type": "clause", "offset": [87, 102]}, {"key": "from-time-to-time", "type": "clause", "offset": [103, 120]}, {"key": "in-accordance-with", "type": "clause", "offset": [121, 139]}, {"key": "the-collateral-custodian", "type": "clause", "offset": [168, 192]}, {"key": "the-bank", "type": "definition", "offset": [194, 202]}, {"key": "the-lender", "type": "clause", "offset": [204, 214]}, {"key": "the-administrative-agent", "type": "definition", "offset": [219, 243]}, {"key": "agent-to-act", "type": "clause", "offset": [296, 308]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [322, 341]}, {"key": "collateral-portfolio", "type": "definition", "offset": [383, 403]}, {"key": "on-behalf-of", "type": "definition", "offset": [486, 498]}, {"key": "the-secured-parties", "type": "clause", "offset": [507, 526]}, {"key": "to-exercise", "type": "clause", "offset": [531, 542]}, {"key": "granted-to", "type": "definition", "offset": [596, 606]}, {"key": "by-this-agreement", "type": "clause", "offset": [628, 645]}, {"key": "appointment-to", "type": "clause", "offset": [695, 709]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [750, 773]}, {"key": "resignation-or-removal", "type": "clause", "offset": [785, 807]}], "samples": [{"hash": "eGkfBRU2N29", "uri": "/contracts/eGkfBRU2N29#initial-collateral-agent", "label": "Omnibus Amendment (Ares Capital Corp)", "score": 29.6981525421, "published": true}, {"hash": "94CiuYv1zgL", "uri": "/contracts/94CiuYv1zgL#initial-collateral-agent", "label": "Omnibus Amendment (Ares Capital Corp)", "score": 28.6892547607, "published": true}, {"hash": "bpjLi27csVl", "uri": "/contracts/bpjLi27csVl#initial-collateral-agent", "label": "Omnibus Amendment (Ares Capital Corp)", "score": 23.7104721069, "published": true}], "hash": "a66c2e8616f954081922c30873487a64", "id": 6}, {"size": 3, "snippet": "Each of the Borrower, the Lenders, the Lender Agents, the Issuing Lender and the Administrative Agent hereby designate and appoint the Collateral Agent to act as its agent for the purposes of perfection of a security interest in the Collateral Portfolio and hereby authorizes the Collateral Agent to take such actions on its behalf and on behalf of each of the Secured Parties and to exercise such powers and perform such duties as are expressly granted to the Collateral Agent by this Agreement. The Collateral Agent hereby accepts such agency appointment to act as Collateral Agent pursuant to the terms of this Agreement, until its resignation or removal as Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "of-the-borrower", "type": "clause", "offset": [5, 20]}, {"key": "the-lenders", "type": "clause", "offset": [22, 33]}, {"key": "the-lender-agents", "type": "clause", "offset": [35, 52]}, {"key": "the-issuing-lender", "type": "clause", "offset": [54, 72]}, {"key": "the-administrative-agent", "type": "definition", "offset": [77, 101]}, {"key": "agent-to-act", "type": "clause", "offset": [146, 158]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [172, 191]}, {"key": "collateral-portfolio", "type": "definition", "offset": [233, 253]}, {"key": "on-behalf-of", "type": "definition", "offset": [336, 348]}, {"key": "the-secured-parties", "type": "clause", "offset": [357, 376]}, {"key": "to-exercise", "type": "clause", "offset": [381, 392]}, {"key": "granted-to", "type": "definition", "offset": [446, 456]}, {"key": "by-this-agreement", "type": "clause", "offset": [478, 495]}, {"key": "appointment-to", "type": "clause", "offset": [545, 559]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [600, 623]}, {"key": "resignation-or-removal", "type": "clause", "offset": [635, 657]}], "samples": [{"hash": "iLKGtAySlSJ", "uri": "/contracts/iLKGtAySlSJ#initial-collateral-agent", "label": "Loan and Servicing Agreement (Fifth Street Finance Corp)", "score": 21.9171791077, "published": true}], "hash": "b76166172ee4370b5d0abe20407ee75a", "id": 7}, {"size": 2, "snippet": "The role of the Collateral Agent with respect to the Underlying Instruments relating to the Permitted Investments shall be conducted by the Person designated as Collateral Agent hereunder (or by the Custodian on its behalf) from time to time in accordance with this Section 7.1. Until the Administrative Agent shall give to Western Alliance Trust Company, N.A. a Collateral Agent Termination Notice, Western Alliance Trust Company, N.A. is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of, Collateral Agent pursuant to the terms hereof.", "snippet_links": [{"key": "role-of-the-collateral-agent", "type": "clause", "offset": [4, 32]}, {"key": "with-respect-to", "type": "clause", "offset": [33, 48]}, {"key": "underlying-instruments", "type": "definition", "offset": [53, 75]}, {"key": "relating-to", "type": "definition", "offset": [76, 87]}, {"key": "permitted-investments", "type": "definition", "offset": [92, 113]}, {"key": "agent-hereunder", "type": "clause", "offset": [172, 187]}, {"key": "the-custodian", "type": "definition", "offset": [195, 208]}, {"key": "from-time-to-time", "type": "clause", "offset": [224, 241]}, {"key": "in-accordance-with", "type": "clause", "offset": [242, 260]}, {"key": "section-71", "type": "definition", "offset": [266, 277]}, {"key": "agent-shall", "type": "definition", "offset": [304, 315]}, {"key": "western-alliance", "type": "definition", "offset": [324, 340]}, {"key": "trust-company", "type": "clause", "offset": [341, 354]}, {"key": "collateral-agent-termination-notice", "type": "definition", "offset": [363, 398]}, {"key": "agrees-to", "type": "clause", "offset": [501, 510]}, {"key": "obligations-of", "type": "clause", "offset": [534, 548]}, {"key": "pursuant-to-the-terms", "type": "clause", "offset": [567, 588]}], "samples": [{"hash": "gMqskOab4Am", "uri": "/contracts/gMqskOab4Am#initial-collateral-agent", "label": "Loan and Security Agreement (PennantPark Private Income Fund)", "score": 37.1861724854, "published": true}, {"hash": "4wJcwDfQsqA", "uri": "/contracts/4wJcwDfQsqA#initial-collateral-agent", "label": "Loan and Security Agreement (PennantPark Private Income Fund)", "score": 36.9260787964, "published": true}], "hash": "7384e84e7f6d3bbef4c76e5af142ad27", "id": 8}, {"size": 2, "snippet": "Each of the Lenders and the Administrative Agent hereby designate and appoint Computershare as the Collateral Agent to act as its agent for the purposes of perfection of a security interest in the Collateral Portfolio and hereby authorizes the Collateral Agent to take such actions on its behalf and on behalf of each of the Secured Parties and to exercise such powers and perform such duties as are expressly granted to the Collateral Agent by this Agreement. Computershare hereby accepts such agency appointment to act as Collateral Agent pursuant to the terms of this Agreement, until its resignation or removal as Collateral Agent pursuant to the terms hereof. Computershare Trust Company, N.A.\u2019s services hereunder shall be conducted through its CCT services division (including, as applicable, any agents or Affiliates utilized thereby).", "snippet_links": [{"key": "each-of-the-lenders", "type": "clause", "offset": [0, 19]}, {"key": "the-administrative-agent", "type": "definition", "offset": [24, 48]}, {"key": "agent-to-act", "type": "clause", "offset": [110, 122]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [136, 155]}, {"key": "collateral-portfolio", "type": "definition", "offset": [197, 217]}, {"key": "on-behalf-of", "type": "definition", "offset": [300, 312]}, {"key": "the-secured-parties", "type": "clause", "offset": [321, 340]}, {"key": "to-exercise", "type": "clause", "offset": [345, 356]}, {"key": "granted-to", "type": "definition", "offset": [410, 420]}, {"key": "by-this-agreement", "type": "clause", "offset": [442, 459]}, {"key": "appointment-to", "type": "clause", "offset": [502, 516]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [557, 580]}, {"key": "resignation-or-removal", "type": "clause", "offset": [592, 614]}, {"key": "computershare-trust-company", "type": "clause", "offset": [665, 692]}, {"key": "services-division", "type": "clause", "offset": [755, 772]}], "samples": [{"hash": "6SK9PEd1hts", "uri": "/contracts/6SK9PEd1hts#initial-collateral-agent", "label": "Loan and Servicing Agreement (Oaktree Strategic Credit Fund)", "score": 35.5653648376, "published": true}, {"hash": "19L2xo8mDD1", "uri": "/contracts/19L2xo8mDD1#initial-collateral-agent", "label": "Loan and Servicing Agreement (Oaktree Strategic Credit Fund)", "score": 34.9028053284, "published": true}], "hash": "2567da5d67b1c42f3b8ef3580afbc4aa", "id": 9}, {"size": 2, "snippet": "The role of Collateral Agent with respect to the Underlying Instruments shall be conducted by the Person designated as Collateral Agent hereunder from time to time in accordance with this Section 7.1. Until the Administrative Agent shall give to UMB Bank, National Association a Collateral Agent Termination Notice or the Collateral Agent resigns pursuant to Section 7.7, UMB Bank, National Association is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of, Collateral Agent pursuant to the terms hereof. The Collateral Agent\u2019s services hereunder shall be conducted through its Corporate Trust and Agency Services division (including, as applicable, any agents or Affiliates utilized thereby).", "snippet_links": [{"key": "role-of-collateral-agent", "type": "clause", "offset": [4, 28]}, {"key": "with-respect-to", "type": "clause", "offset": [29, 44]}, {"key": "underlying-instruments", "type": "definition", "offset": [49, 71]}, {"key": "agent-hereunder", "type": "clause", "offset": [130, 145]}, {"key": "from-time-to-time", "type": "clause", "offset": [146, 163]}, {"key": "in-accordance-with", "type": "clause", "offset": [164, 182]}, {"key": "section-71", "type": "definition", "offset": [188, 199]}, {"key": "agent-shall", "type": "definition", "offset": [226, 237]}, {"key": "national-association", "type": "clause", "offset": [256, 276]}, {"key": "collateral-agent-termination-notice", "type": "definition", "offset": [279, 314]}, {"key": "the-collateral-agent", "type": "definition", "offset": [318, 338]}, {"key": "section-77", "type": "clause", "offset": [359, 370]}, {"key": "agrees-to", "type": "clause", "offset": [467, 476]}, {"key": "obligations-of", "type": "clause", "offset": [500, 514]}, {"key": "pursuant-to-the-terms", "type": "clause", "offset": [533, 554]}, {"key": "services-division", "type": "clause", "offset": [663, 680]}], "samples": [{"hash": "kMDBBuu2LCf", "uri": "/contracts/kMDBBuu2LCf#initial-collateral-agent", "label": "Loan and Security Agreement (Stepstone Private Credit Fund LLC)", "score": 35.8336753845, "published": true}, {"hash": "kn3D5wAtFfP", "uri": "/contracts/kn3D5wAtFfP#initial-collateral-agent", "label": "Loan and Security Agreement (Stepstone Private Credit Fund LLC)", "score": 34.9274482727, "published": true}], "hash": "10122c08f228dc24a4ccae797eeaad77", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiFpbml0aWFsLWNvbGxhdGVyYWwtYWdlbnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 149, "title": "Initial Collateral Agent", "parents": [["designation-of-collateral-agent", "Designation of Collateral Agent"], ["collateral-agent", "Collateral Agent"], ["miscellaneous", "Miscellaneous"], ["defaulting-lenders", "Defaulting Lenders"], ["payments-by-the-administrative-agent", "Payments by the Administrative Agent"]], "children": [], "id": "initial-collateral-agent", "related": [["initial-collateral-custodian", "Initial Collateral Custodian", "Initial Collateral Custodian"], ["appointment-of-supplemental-collateral-agents", "Appointment of Supplemental Collateral Agents", "Appointment of Supplemental Collateral Agents"], ["additional-collateral", "Additional Collateral", "Additional Collateral"], ["collateral-agent", "Collateral Agent", "Collateral Agent"], ["additional-collateral-etc", "Additional Collateral, etc", "Additional Collateral, etc"]], "related_snippets": [], "updated": "2026-04-18T06:00:06+00:00", "also_ask": ["What are the key powers and limitations of the Initial Collateral Agent under this clause?", "How can parties negotiate the agent\u2019s replacement or removal to protect their interests?", "What drafting elements are essential to ensure the agent\u2019s authority is clear and enforceable?", "What are the main legal risks if the Initial Collateral Agent\u2019s role is ambiguously defined?", "How do courts typically interpret and enforce Initial Collateral Agent provisions in similar agreements?"], "drafting_tip": "Specify the Initial Collateral Agent by name to avoid ambiguity; define the agent\u2019s authority and duties to ensure enforceability; require written consent for any replacement to maintain lender protection.", "explanation": "The 'Initial Collateral Agent' clause designates the party responsible for holding and managing collateral on behalf of secured parties at the outset of a financial transaction. This clause typically identifies the initial agent by name and outlines their authority to act in the interests of all lenders or creditors, including the power to enforce security interests or distribute proceeds from collateral. Its core function is to ensure there is a clear, centralized point of contact for collateral management, thereby streamlining communication and reducing the risk of disputes among multiple secured parties."}, "json": true, "cursor": ""}}