Vehicle Collateral Trustee definition

Vehicle Collateral Trustee shall have the meaning assigned to such term in the First Lien Intercreditor Agreement or if no First Lien Intercreditor Agreement is in effect, shall mean the Collateral Agent.

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Vehicle Collateral Trustee shall have the meaning set forth in the introductory paragraph.

Vehicle Collateral Trustee means the Person named as such in the Vehicle Collateral Trust Agreement, and shall initially be The Bank of New York Mellon Trust Company, N.A.

Examples of Vehicle Collateral Trustee in a sentence

For avoidance of doubt, notwithstanding any provisions to the contrary in the Existing Vehicle Security Agreements, each Grantor and each First Lien Secured Party hereby agrees that the Required Vehicles Title Documentations for all applicable Certificates of Title Collateral shall be notated in the name of the Vehicle Collateral Trustee as lienholder for the benefit of the First Lien Secured Parties.
The Vehicle Collateral Trustee agrees that, except for the powers granted in Section 6.1(a)(i), it shall not exercise any power or authority granted to it under Section 6.1(a) unless an Event of Default has occurred and is continuing.
Without having any obligation to do so, the Vehicle Collateral Trustee may perform or pay any obligation which any Grantor has agreed to perform or pay in this Agreement and the Grantors shall reimburse the Vehicle Collateral Trustee for any amounts paid by the Vehicle Collateral Trustee pursuant to this Section 8.3. The Grantors’ obligation to reimburse the Vehicle Collateral Trustee pursuant to the preceding sentence shall be a First Lien Obligation payable on demand.
Such Grantor shall take such additional actions and execute such documents as are necessary or reasonably requested from time to time (including, without limitation, Titling Actions) by the Vehicle Collateral Trustee (acting at the written direction of the Controlling Collateral Agent) to perfect and maintain the validity, effectiveness and priority of this Agreement and the Liens intended to be created thereby in any Certificate of Title Collateral.
Such Grantor will keep proper books of record and accounts, in conformity with GAAP consistently applied which accurately reflect in all material respects matters involving the Collateral owned by it and furnish to the Vehicle Collateral Trustee, such reports relating to such Collateral as the Vehicle Collateral Trustee shall from time to time reasonably request.
All rights of the Vehicle Collateral Trustee hereunder, the Security Interests and all obligations of the Grantors hereunder shall be absolute and unconditional.
Such Grantor shall hold, store and maintain all Certificates of Title pertaining to Certificate of Title Collateral at its expense and take any commercially reasonable actions necessary or as may be reasonably requested by the Vehicle Collateral Trustee from time to time to safeguard such Certificates of Title.
The powers conferred on the Vehicle Collateral Trustee, for the benefit of the Vehicle Collateral Trustee and the First Lien Secured Parties, under this Section 6.1 are solely to protect the Vehicle Collateral Trustee’s interests in the Collateral and shall not impose any duty upon the Vehicle Collateral Trustee to exercise any such powers.
Nothing herein shall be deemed to be an assumption of such obligations by the Vehicle Collateral Trustee.
All notices, approvals, consents, requests and any communications hereunder must be in writing (provided that any communications sent to the Vehicle Collateral Trustee hereunder must be in the form of a document that is signed manually or by way of a digital signature provided by DocuSign (or such other digital signature provider as specified in writing to Vehicle Collateral Trustee by the authorized representative)), in English.

More Definitions of Vehicle Collateral Trustee

Vehicle Collateral Trustee has the meaning assigned to such term in the preamble hereto and includes such Person’s successors in such capacity and any agent, sub-agent or nominee thereof.

Vehicle Collateral Trustee means such successor vehicle collateral trustee, and the retiring Vehicle Collateral Trustee’s appointment, powers and duties as a Vehicle Collateral Trustee shall be terminated, (b) the retiring Vehicle Collateral Trustee will (at the expense of the Company) promptly transfer all Liens and collateral security of the First Lien Vehicle Trust Estate within its possession or control to the possession or control of the successor Vehicle Collateral Trustee and will execute instruments and assignments as may be necessary or reasonably requested by the successor Vehicle Collateral Trustee to transfer to the successor Vehicle Collateral Trustee all Lines, interests, rights, powers and remedies of the retiring Vehicle Collateral Trustee in respect of the First Lien Vehicle Trust Estate, and the Grantors shall take all actions to perfect the Security Interests of the successor Vehicle Collateral Trustee in all Pledged Vehicles constituting Collateral in accordance with Section 4.2 and (c) until such transfer is effective, the Vehicle Collateral Trustee will (at the expense of the Company) continue to hold such Liens for the benefit of the First Lien Secured Parties, and on the retiring Vehicle Collateral Trustee’s resignation hereunder, the provisions of this Sections 7.4 and 7.5 shall continue to inure to its benefit, and the retiring Vehicle Collateral Trustee shall not by reason of such resignation be deemed to be released from liability as to any actions taken or omitted to be taken by it while it was a Vehicle Collateral Trustee under this Agreement, the Intercreditor Agreement or any other Secured Credit Document.