Security Agent definition
Examples of Security Agent in a sentence
The Security Agents may appoint and pay any person to act as nominee on any terms in relation to any asset of the trust as such Security Agent may determine and the Security Agents shall not be responsible for any loss, liability, expense, demand, cost, claim or proceedings incurred by reason of the misconduct, omission or default on the part of any person appointed by it under this Agreement or be bound to supervise the proceedings or acts of any person.
The Obligors shall, within five Business Days of demand, reimburse the retiring Security Agent for the amount of all costs and expenses (including legal fees) properly incurred by it in making available such documents and records and providing such assistance in accordance with this paragraph (d) which exceed an amount equal to the annual fee payable to such Security Agent pursuant to Clause 11.4 (Global Security Agent Fee) or 11.5 (KSA Security Agent fee) (as applicable).
In consideration for the covenants given to the Security Agent by the Obligors in Clause 29.2 (Parallel Debt (Covenant to Pay the Security Agents)), each Security Agent agrees with the Obligors to apply all moneys from time to time paid by the Obligors to the Security Agent in accordance with the provisions of Clause 15.1 (Order of Application) of the Priority Agreement.
The Borrower shall pay to the Global Security Agent (for its own account) an global security agent fee in the amount and at the times agreed in a Fee Letter.
Each Security Agent may accept deposits from, lend money to and generally engage in any kind of banking or other business with any Obligor, any member of the Group or its Affiliates.