Trustee Collateral Agent Clause Samples
The 'Trustee; Collateral Agent' clause defines the roles and responsibilities of the trustee and collateral agent in a financial or security agreement. Typically, the trustee acts on behalf of the bondholders or lenders, while the collateral agent holds and manages the collateral securing the obligations under the agreement. For example, the collateral agent may be responsible for perfecting security interests and distributing proceeds from collateral in the event of default. This clause ensures that there is a clear, designated party to manage collateral and enforce rights on behalf of all secured parties, thereby streamlining administration and reducing the risk of disputes among creditors.
Trustee Collateral Agent. An entity acceptable to the Requisite Consenting Creditors, in their sole discretion Closing Date: The New Secured Convertible Notes Indenture will become effective and the New Secured Convertible Notes will be issued on the date (occurring on the Effective Date) on which all conditions precedent to the effectiveness of the New Secured Convertible Notes Indenture set forth in the New Secured Convertible Notes Documents shall be satisfied (or waived by the Ad Hoc Noteholder Group in accordance with the New Secured Convertible Notes Documents) (the “Closing Date”).
Trustee Collateral Agent. An entity acceptable to the Ad Hoc Noteholder Group and the Issuer, to be determined by the Requisite Consenting Creditors and the Debtors (the “New Secured Notes Agent”).
Trustee Collateral Agent. The Company will select a trustee and collateral agent for the New Notes from a whitelist to be agreed between the Ad Hoc Group and the Company. Transfer Restrictions The New Notes and the New Notes Subsidiary Guarantees will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any securities law of any state or other jurisdiction of the United States, and may not be offered or sold within the United States (as defined in Regulation S under the Securities Act (“Regulation S”)) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Form, Denomination and Registration The New Notes will be issued only in fully registered form and will be initially represented by one or more global certificates. The minimum denomination will be US$1 and integral multiples of US$1 in excess thereof. Listing Application will be made by the Issuer for the listing and quotation of the New Notes on the SGX or another internationally recognized exchange. The Issuer will procure that the New Notes to remain listed and quoted on the SGX or another internationally recognized exchange so long as any New Notes remain outstanding. Governing Law and Jurisdiction The New Notes, the New Notes Subsidiary Guarantees and the New Notes Indenture will be governed by and will be construed in accordance with the laws of the State of New York. U.S. federal and New York state courts located in the Borough of Manhattan, The City of New York are to have non-exclusive jurisdiction to settle any disputes that may arise out of or in connection with the New Notes, the New Notes Subsidiary Guarantees and the New Notes Indenture. The security documents will be governed by the laws of the jurisdictions where the relevant collateral is held or located.
Trustee Collateral Agent