Collateral Agent definition
Examples of Collateral Agent in a sentence
The Administrative Agent, the Collateral Agent or the Revolving Agent, as applicable, shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents.
The Collateral Agent is hereby authorized on behalf of all of the Lenders, without the necessity of any notice to or further consent from any Lender, from time to time prior to the occurrence and continuance of an Event of Default, to take any action with respect to any Collateral or Collateral Documents which may be necessary to create, perfect and maintain perfected security interests in and liens upon the Collateral granted pursuant to the Collateral Documents.
Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent, the Collateral Agent or the Revolving Agent, as applicable, hereunder and without any duty to account therefor to the Lenders.
Anything herein to the contrary notwithstanding, no Agent or Lender shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Revolving Agent, the Collateral Agent, a Lender or an L/C Issuer hereunder.
It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent, the Collateral Agent or Revolving Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law.