The Note Collateral Agent Sample Clauses
The "Note Collateral Agent" clause defines the role and responsibilities of the party appointed to hold and manage collateral on behalf of noteholders in a financing arrangement. This agent is typically responsible for safeguarding assets pledged as security for the notes, enforcing rights in the event of default, and distributing proceeds from the collateral if necessary. By centralizing the management of collateral, the clause ensures that the interests of all noteholders are protected and that the process for handling collateral is clear and efficient, thereby reducing the risk of disputes and streamlining enforcement actions.
The Note Collateral Agent. ▇▇▇▇▇ Fargo Bank, National Association has been appointed Note Collateral Agent for the Noteholder Secured Parties hereunder pursuant Section 10.07 of the Indenture. It is expressly understood and agreed by the parties to this Agreement that any authority conferred upon the Note Collateral Agent hereunder is subject to the terms of the delegation of authority made by the Noteholder Secured Parties to the Note Collateral Agent pursuant to the Indenture, and that the Note Collateral Agent has agreed to act (and any successor Note Collateral Agent shall act) as such hereunder only on the express conditions contained in such Section 10.07 of the Indenture. Any successor Note Collateral Agent appointed pursuant to Section 10.07(g) of the Indenture shall be entitled to all the rights, interests and benefits of the Note Collateral Agent hereunder.
The Note Collateral Agent. Section 6.1 Duty of the Note Collateral Agent 10
The Note Collateral Agent