Collateral and Intercreditor Agent definition
Examples of Collateral and Intercreditor Agent in a sentence
Each Holder, by its acceptance of a Note, consents and agrees to the Collateral and Intercreditor Agent acting as its agent for purposes and under the terms of each of the Collateral Documents, and agrees to the terms thereof and permits the Collateral and Intercreditor Agent to appoint any other agent to act on behalf of the Collateral and Intercreditor Agent and the Holders of Notes.
The Holder of this Note by its acceptance of this Note is deemed to have appointed the Trustee as its agent for the purpose of appointing, designating and authorizing Law Debenture Trust Company of New York to act as Collateral and Intercreditor Agent pursuant to and in accordance with the terms and conditions set forth in respect of the Collateral in the Collateral and Intercreditor Agreement and in each of the Collateral Documents.
The Issuer will take such action, at its sole expense, as may be required to ensure that the Collateral and Intercreditor Agent has, from the date of such purchase or investment, a first ranking Lien on such Replacement Collateral.
The Trustee, Company and the Restricted Subsidiaries hereby acknowledge and agree that the Collateral and Intercreditor Agent holds the Collateral for the ratable benefit of, and as agent for, the Holders and the Trustee subject to the terms of the Collateral Documents.
If this Agreement shall have been terminated prior to such Recovery, upon written notice thereof from such Secured Party to such Grantor and the Collateral and Intercreditor Agent, this Agreement and each of the Collateral Documents shall be reinstated in full force and effect, to the extent permissible under applicable law and such prior termination shall not diminish, release, discharge, impair or otherwise affect the Obligations of the parties hereto from such date of reinstatement.
If any Other Secured Party (or its Creditor Representative) shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the Collateral and Intercreditor Agent in accordance with the terms of Section 5.1.
All of the powers, remedies and rights of the Collateral and Intercreditor Agent as set forth in this Agreement shall be exercised by the Collateral and Intercreditor Agent in respect of any Collateral Document as though set forth in full therein and all of the powers, remedies and rights of the Collateral and Intercreditor Agent as set forth in any Collateral Document shall be exercised from time to time as herein and therein provided.
The Trustee shall promptly notify the Master Collateral and Intercreditor Agent of the instructions that it shall have received from the Holders.
Any Account established under any other jurisdiction shall be in the name of the Collateral and Intercreditor Agent, under the sole and exclusive control of the Collateral and Intercreditor Agent, and shall otherwise be established in a manner sufficient to provide the Collateral and Intercreditor Agent with a perfected security interest therein.
Each Creditor Representative agrees to notify the Collateral and Intercreditor Agent in writing of any change of its officers authorized to give directions or provide information hereunder on behalf of such Creditor Representative prior to the date of any such change.