Foreign Security Documents definition
Examples of Foreign Security Documents in a sentence
After the retiring Common Collateral Agent’s resignation or removal hereunder and under the other Foreign Security Documents, the provisions of this Section 3.11 shall continue in effect for the benefit of such retiring Common Collateral Agent, its sub-agents and their respective related parties in respect of any actions taken or omitted to be taken by any of them while the retiring Common Collateral Agent was acting as Common Collateral Agent.
Upon the acceptance of a successor’s appointment as Common Collateral Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Common Collateral Agent (other than any rights to indemnity payments owed to the retiring Common Collateral Agent), and the retiring Common Collateral Agent shall be discharged from all of its duties and obligations hereunder or under the other Foreign Security Documents.
It is understood and agreed that the use of the term “agent” herein or in any other Foreign Security Documents (or any other similar term) with reference to the Common Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law.
Following the Discharge of Notes Obligations, the ABL Agent shall have the right to direct the Common Collateral Agent in respect of all matters relating to the Foreign Collateral constituting Notes Priority Collateral, and/or any Foreign Security Documents with respect to the Notes Priority Collateral, including the Exercise of Any Secured Creditor Remedies with respect thereto.
The Common Collateral Agent shall administer the Foreign Collateral in the manner contemplated by this Agreement and the Foreign Security Documents and any other Credit Document to which the Common Collateral Agent is a party.