Common use of The Collateral Manager Clause in Contracts

The Collateral Manager. On the Closing Date, the Borrower shall enter into the Collateral Management Agreement, whereby the Borrower shall confirm the appointment of the Collateral Manager as the Borrower’s collateral manager. The servicing, administering and collection of the Borrower Collateral shall be conducted by the Collateral Manager in accordance with this Agreement and the Collateral Management Agreement. Whether or not therein expressly so provided, every provision of this Agreement relating to the conduct or affecting the liability of the Collateral Manager shall be subject to the provisions of the Collateral Management Agreement. The Collateral Manager is performing its services under this Agreement and the Collateral Management Agreement in order to facilitate the closing of the CLO and shall be paid the Senior Collateral Management Fee hereunder and under the Collateral Management Agreement. On the Maturity Date, the Borrower shall pay to the Collateral Manager, pursuant to the terms hereof and of the Collateral Management Agreement, the Senior Collateral Management Fee then due and payable. Notwithstanding anything contained herein to the contrary, the obligations of the Borrower under this Section 10 and the Collateral Management Agreement to pay the Senior Collateral Management Fee to the Borrower shall be payable solely out of the Borrower Collateral and shall remain subordinate to the Borrower’s obligations owing to the Lender under this Agreement.