Security Parties’ process agent Sample Clauses
The 'Security Parties’ process agent' clause designates an individual or entity to receive legal documents and court proceedings on behalf of the security parties in a transaction. Typically, this clause is used when the security parties are based in a different jurisdiction from where legal proceedings may occur, requiring them to appoint a local agent for service of process. By ensuring that there is a reliable and accessible point of contact for legal notices, this clause facilitates the smooth administration of legal actions and helps prevent delays or disputes over proper notification.
Security Parties’ process agent a letter from each Security Party’s agent for receipt of service of proceedings referred to in each Security Document to which the relevant Security Party is a party, accepting its appointment under each of the relevant Security Documents;
Security Parties’ process agent unless previously provided, a letter from the Borrower and the Manager’s agent for receipt of service of proceedings referred to in each Finance Document to which the relevant Security Party is a party and which is referred to in this Part B in respect of the Relevant Advance, accepting its appointment under each of the relevant Finance Documents;
Security Parties’ process agent a copy, certified as a true copy by a duly authorised signatory of each of the Security Parties or other person acceptable to the Facility Agent of a letter from each of the Security Parties’ agent for receipt of service of proceedings referred to in clause 18.3 accepting its appointment under this Agreement and each of the other Security Documents in which it is or is to be appointed as the Security Parties’ agent and confirming that its appointment has become effective;