Services Provider definition
Examples of Services Provider in a sentence
The Services Provider shall arrange for the provision of such services at the sole cost and expense of the Borrower and shall maintain such insurance against loss or damage to the Custody Documents as the Services Provider deems appropriate.
Upon receiving notice of such resignation, the Requisite Lenders shall promptly appoint a successor Collateral Custodian (with the consent of the Borrower) by written instrument, in duplicate, executed by the Requisite Lenders, one copy of which shall be delivered to the Collateral Custodian so resigning and one copy to the successor Collateral Custodian, together with a copy to the Borrower, the Services Provider, the Collateral Agent and the Administrative Agent.
In the absence of any direction (including a standing direction) from the Services Provider, the Collateral Agent shall hold uninvested any amounts held as USD and on deposit in any Transaction Account.
Amounts in the Expense Reserve Account will be invested in overnight funds that are Eligible Investments in accordance with the written instructions of the Services Provider (which may be in the form of standing instructions).
The Collateral Agent shall have no obligation to review or verify whether the Borrower or the Services Provider on its behalf has obtained and delivered (or made available to the Transaction Data Room) the necessary Diligence Information and other Custody Documents required for purchases of Collateral Obligations hereunder, and the Collateral Agent shall have no obligation to maintain the Transaction Data Room on behalf of the Borrower.