Secured Agents definition
Examples of Secured Agents in a sentence
Additionally, in the case of Rated Notes, each of the Secured Agents appointed in respect of such Notes must meet the Rating Criteria applicable in respect of Short Term Investments.
Upon receipt of such Aggregate STP Claim Delivery Notice, the Issuer shall, as soon as reasonably practicable, and subject to payment of all Expenses owing and payable to the Trustee and the Secured Agents, assign its Issuer Aggregate STP Claim to the 100% Noteholder and notify the Swap Counterparty of such assignment upon the date thereof.
Upon receipt of such Issuer STP Claim Delivery Notice, the Issuer shall, as soon as reasonably practicable, and subject to payment of all Expenses owing and payable to the Trustee and the Secured Agents, assign its Issuer STP Claim to the 100% Noteholder and notify the Swap Counterparty of such assignment upon the date thereof.
This Agreement is solely for the benefit of the Secured Agents, the other Secured Claimholders, the Junior Subordinated Agent, and the other Junior Subordinated Claimholders, and their respective successors and assigns, and neither any Obligor nor any other Person is intended to be a third party beneficiary hereunder or to have any right, benefit, priority or interest under, or because of the existence of, or to have any right to enforce, this Agreement.
Each Obligor agrees that the Subordination Agreement may be amended by the Secured Agents and the Junior Subordinated Agent without notice to, or the consent of any Obligor or any other Person.
The Secured Agents and the Junior Subordinated Agent shall have the right to modify or terminate this Agreement at any time without notice to or approval of any Obligor or any other Person.
The Secured Agents and the other Secured Claimholders shall have no obligation or duty to protect any Junior Subordinated Claimholder’s rights of subrogation arising pursuant to this Agreement or under any applicable law, nor shall any Secured Agent or any other Secured Claimholder be liable for any loss to, or impairment of, any subrogation rights held by any Junior Subordinated Claimholder.
Solely after the Discharge of the Secured Obligations shall have occurred, the Junior Subordinated Agent and the other Junior Subordinated Claimholders shall be subrogated to the rights of the Secured Agents and the other Secured Claimholders to the extent that distributions otherwise payable to the Junior Subordinated Claimholders have been applied to the payment of the Secured Obligations in accordance with the provisions of this Agreement.