Examples of New Secured Parties in a sentence
The New Representative, on behalf of the New Secured Parties, and the Collateral Agent, on behalf of the existing Secured Parties, each hereby acknowledges and agrees that the Collateral Agent in its capacity as such shall be agent on behalf of the New Representative and on behalf of all other Secured Parties.
The New Representative, on behalf of the New Secured Parties, and the Collateral Trustee, on behalf of the existing Secured Parties, each hereby acknowledges and agrees that the Collateral Trustee in its capacity as such shall be agent on behalf of the New Representative and on behalf of all other Secured Parties.
Each Grantor shall legend, in form and manner reasonably satisfactory to the Collateral Agent, its Accounts Receivable and its books, records and documents evidencing or pertaining thereto with an appropriate reference to the fact that such Accounts Receivable have been assigned to the Collateral Agent for the benefit of the New Secured Parties and that the Collateral Agent has a security interest therein.
The rights and remedies of the Collateral Agent hereunder and of the New Secured Parties, under the New Debenture Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have.
The New Representative represents, warrants and acknowledges that it has the authority to bind each of the New Secured Parties to the Collateral Trust Agreement and such New Secured Parties are hereby bound by the terms, conditions and provisions of the Collateral Trust Agreement, including, without limitation, the provisions relating to the ranking of Transaction Liens and the order of application of proceeds from the enforcement of Transaction Liens.
Each Grantor hereby grants to the Collateral Agent for the benefit of the New Secured Parties a lien, security interest and right of setoff as security for all New Debenture Obligations to the New Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Collateral Agent or any entity under the control of the Collateral Agent.
If any amount payable under or in connection with any of the Collateral shall be or become evidenced by any promissory note or other instrument, such note or instrument shall be immediately pledged and delivered to the Collateral Agent for the benefit of the New Secured Parties, duly endorsed in a manner satisfactory to the Collateral Agent.
Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the New Debenture Security Interest of the Collateral Agent, for the benefit of the New Secured Parties, in the Collateral and the priority thereof against any Lien which is not a Permitted Lien.
Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Grantors or the Collateral Agent for the benefit of the New Secured Parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns.
Notwithstanding anything contrary herein or in the New Debenture Documents, the rights, benefits, priorities and interests of the Collateral Agent and the New Secured Parties (including, without limitation, with respect to the Collateral, the Proceeds thereof and exercise of rights, powers and remedies) shall be subject in all respects to the provisions of the Collateral Agency and Intercreditor Agreement.