Common use of Secured Cash Management Agreements Clause in Contracts

Secured Cash Management Agreements. No Cash Management Bank that obtains the benefits of Section 2.11(b) or any Collateral by virtue of the provisions hereof or of any Security Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Credit Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Credit Documents. Notwithstanding any other provision of this Article VIII to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Cash Management Agreements unless the Administrative Agent has received written notice of such Secured Cash Management Agreements, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank.

Secured Cash Management Agreements. No Cash Management Bank that obtains the benefits of Section 2.11(b) or any Collateral by virtue of the provisions hereof or of any Security Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Credit Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Credit Documents. Notwithstanding any other provision of this Article VIII to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Cash Management Agreements unless the Administrative Agent has received written notice of such Secured Cash Management Agreements, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank.. 109