Examples of Collection Date in a sentence
Except as otherwise set forth herein, upon the occurrence of the Collection Date, this Agreement shall terminate automatically.
From the Closing Date until the Collection Date, the Collateral Agent will not make any changes to the Collateral Agent Fees without the prior written approval of the Administrative Agent.
Upon the Collection Date or pursuant to Section 8.08, the Collateral Agent, on behalf of the Secured Parties, shall, at the expense of the Borrower, promptly execute, deliver and file or authorize for filing such instruments as the Borrower shall reasonably request in order to reassign, release or terminate the Secured Parties’ security interest in the Collateral.
The parties agree that such collateral assignment and grant of security interest shall automatically terminate upon the Collection Date.
The Borrower confirms that until the Collection Date the Collateral Agent (at the direction of the Required Lenders) on behalf of the Secured Parties, so long as an Event of Default has occurred and is continuing, shall have the sole right to enforce the Borrower’s rights and remedies under the Purchase and Sale Agreement and any UCC financing statements filed under or in connection therewith for the benefit of the Secured Parties.