Examples of Collateral Obligation in a sentence
Any Taxes, fees and other governmental charges payable by the Borrower in connection with the execution and delivery of this Agreement and the other Transaction Documents and the transactions contemplated hereby or thereby including the transfer of each Collateral Obligation and the Related Security to the Borrower have been paid or shall have been paid if and when due and prior to delinquency.
By execution of this Agreement, the Collateral Agent represents and warrants that it currently holds and during the existence of this Agreement shall hold, no adverse interest, by way of security or otherwise, in any Collateral Obligation or any document in the Collateral Obligation Files.
The role of Document Custodian with respect to the holding of the Collateral Obligation Files shall be conducted by the Person designated as Document Custodian hereunder from time to time in accordance with this Section 18.1. U.S. Bank National Association is hereby appointed as, and xxxxxx accepts such appointment and agrees to perform the duties and obligations of, Document Custodian pursuant to the terms hereof.
Written instructions as to the method of shipment and shipper(s) the Document Custodian is directed to utilize in connection with the transmission of tangible Collateral Obligation Files in the performance of the Document Custodian’s duties hereunder shall be delivered by the Agent, the Borrower or the Servicer to the Document Custodian prior to any shipment of any Collateral Obligation Files held by it hereunder.
The Servicer shall arrange for the provision of such services at the Borrower’s sole cost and expense (or, at the Document Custodian’s option, reimburse the Document Custodian for all costs and expenses incurred by the Document Custodian consistent with such instructions) and shall maintain such insurance against loss or damage to the Collateral Obligation Files as the Servicer deems appropriate.