Custodial Documents definition
Examples of Custodial Documents in a sentence
The foregoing provision with respect to the release to the Collateral Manager of the Custodial Documents by the Collateral Custodian upon request by the Collateral Manager shall be operative only to the extent that the Controlling Parties (or the Administrative Agent on their behalf) have consented to such release.
The Collateral Custodian shall upon its receipt of each such request for return executed by the Borrower and the Controlling Parties or Administrative Agent on their behalf promptly, but in any event within five Business Days, return the Custodial Document(s) so requested to the Borrower.
The Collateral Custodian shall be deemed to be acting as the agent on behalf of the Collateral Agent and the Secured Parties; provided that the Collateral Custodian makes no representations as to the existence, perfection or priority of any lien on the Loan Assets or the Custodial Documents; and provided further that the Collateral Custodian's duties as agent shall be limited to those expressly contemplated herein.
Without limiting the foregoing provisions of this Section 14.8, from time to time on request of the Controlling Parties, the Collateral Custodian shall permit certified public accountants or other auditors acceptable to the Controlling Parties to conduct, at the expense of the Borrower, a review of the Custodial Documents; provided that, prior to the occurrence of a Default or an Event of Default, such review shall be conducted no more than two times in any calendar year.
All Custodial Documents that are originals or copies shall be kept in fire resistant vaults, rooms or cabinets at such offices and placed together with an appropriate identifying label and maintained in such a manner so as to permit retrieval and access.