Collateral Management. The Agent is hereby authorized on behalf of all of the Lenders, without the necessity of any further consent from any Lender, from time to time prior to an Event of Default, to take any action with respect to the collateral or the Security Documents which may be necessary (i) to perfect and maintain perfected the security interest in and liens upon the collateral granted pursuant to the Security Documents; and (ii) to release portions of the collateral from the security interests and liens imposed by the Security Documents in connection with any dispositions of such portions of the collateral permitted hereby. In the event that the Company or the Guarantors desire to sell or otherwise dispose of any assets and such sale or disposition is permitted hereby, the Agent shall, upon timely notice from the Company, release such portions of the collateral from the security interests and liens imposed by the Security Documents as may be specified by the Company or the Guarantors in order for the Borrower or the Guarantors to consummate such proposed sale or disposition, provided that at or prior to the time of such proposed sale or disposition no Unmatured Event or Event of Default shall have occurred and be continuing, including, without limitation, any Unmatured Event or Event of Default that would arise upon consummation of such sale or disposition. For purposes of the preceding sentence, the Company shall give timely notice if, not less than two Business Days prior to the date of such proposed sale or disposition, it shall furnish to the Agent an officers' certificate setting forth in reasonable detail the circumstances of such proposed sale or disposition.
Collateral Management. The Agent is hereby authorized on behalf of all the Lenders, without the necessity of any further consent from any Lender, from time to time prior to a Default, to take any action with respect to the Collateral or the Collateral Documents which may be necessary (i) to perfect and maintain perfected the security interest in and liens upon the Collateral granted pursuant to the Collateral Documents; and (ii) to release portions of the Collateral from the security interests and liens imposed by the Collateral Documents in connection with any dispositions of such portions of the Collateral permitted by this Agreement. In the event that the Company desires to sell or otherwise dispose of any assets and such sale or disposition is permitted by this Agreement, the Agent shall, upon timely notice from the Company and the payment to the Agent of the Net Cash Proceeds of such sale or disposition to the extent required under this Agreement, release such portions of the Collateral from the security interests and liens imposed by the Collateral Documents as may be specified by the Company in order for the Company or its Subsidiaries to consummate such proposed sale or disposition, provided that at or prior to the time of such proposed sale or disposition no Default or Unmatured Default shall have occurred and be continuing, including, without limitation, any Unmatured Default or Default that would arise upon consummation of such sale or disposition. For purposes of the preceding sentence, the Company shall give timely notice to the Agent of such sale or disposition, not less than ten Business Days prior to the date of such proposed sale or disposition. If such sale or disposition would cause a prepayment under this Agreement, the Company shall furnish to the Agent an Officers' Certificate setting forth in reasonable detail the circumstances of such proposed sale or disposition (including a description of the Collateral to be sold or otherwise disposed of, the consideration (if any) to be received and such information as may be required regarding compliance with the relevant provisions of this Agreement, including the amount of any required prepayment hereunder and (if relevant) the approval of the price of such sale as to the fair market value). The Lenders hereby empower and authorize the Agent to execute and deliver to the Borrowers on their behalf the Collateral Documents and all related financing statements and any financing statements, agreements, documents or ins...
Collateral Management. Section 14.01 Designation of the Collateral Manager 180 Section 14.02 Duties of the Collateral Manager 180 Section 14.03 Authorization of the Collateral Manager 182 Section 14.04 Separateness Provisions of the Borrower 182 Section 14.05 Compensation 183 Section 14.06 Expenses; Indemnification 183 Section 14.07 The Collateral Manager Not to Resign; Assignment 184 Section 14.08 Appointment of Successor Collateral Manager 184 THE COLLATERAL ADMINISTRATOR Section 15.01 Designation of Collateral Administrator 186 Section 15.02 Certain Duties and Powers 186 Section 15.03 Certain Rights of Collateral Administrator 190 Section 15.04 Compensation and Reimbursement of Collateral Administrator 193 Section 15.05 Resignation and Removal; Appointment of Successor 194 Section 15.06 Acceptance and Appointment by Successor 194 Section 15.07 Merger, Conversion, Consolidation or Succession to Business of Collateral Administrator 194 Section 15.08 Certain Duties of Collateral Administrator Related to Delayed Payment of Proceeds 195
Collateral Management. If the AIF carries out OTC transactions, it may be exposed to risks in connection with the cre- ditworthiness of the OTC counterparties since, when it concludes forward contracts, options and swap transactions or uses other derivatives-based techniques, the AIF runs the risk of an OTC counterparty failing to meet its obligations under one or more contracts. This counterparty risk may be reduced if collateral is furnished. Where collateral is provided to the AIF under the ap- plicable legislation or the terms of a contract, it is held in safekeeping for the account of the AIF by or on behalf of the Depositary. Cases of insolvency or other credit default events affecting the Depositary or entities within its sub-depositary / correspondent bank network can result in the AIF's rights and entitlements in respect of the collateral being deferred or restricted in some other manner. Where the applicable legislation or the terms of a contract require the AIF to furnish the OTC counterparty with collateral, that collateral shall be transferred to the OTC coun- terparty as agreed between the AIF and the OTC counterparty. Cases of insolvency or other credit default events affecting the OTC counterparty, the Depositary or entities within its sub- depositary or correspondent bank network can result in the rights or the recognition of the AIF in respect of the collateral being delayed, restricted or even excluded, in which case the AIF would be compelled to meet its obligations under the OTC transaction without recourse to any collateral initially furnished to cover those obligations.
Collateral Management. 1) The Company shall be operated with the sole aim of maximizing the expected proceeds of the Claims, after taking into account costs (including a reasonable expected return on such costs given recovery risks) and achieving the majority of recoveries within three (3) years of the date hereof or as otherwise extended, and, except as otherwise agreed by the Operating Committee, shall ensure that the proceeds of the Credit Facilities are used for such purposes or otherwise in compliance with the terms of the New Money Loan Agreement and the HHI Loan Agreement.
Collateral Management. Section 14.01 Designation of the Collateral Manager 170
Collateral Management. The Agent is hereby authorized on behalf of all of the Lenders, without the necessity of any further consent from any Lender, from time to time prior to an Event of Default, to take any action with respect to the Collateral or the Collateral Documents which may be necessary (i) to perfect and maintain perfected the security interest in and liens upon the Collateral granted pursuant to the Security Agreement and the other Collateral Documents; and (ii) to release portions of the Collateral from the security interests and liens imposed by the Collateral Documents in connection with any dispositions of such portions of the Collateral permitted hereby. In the event that the Borrowers or Guarantors desire to sell or otherwise dispose of any assets and such sale or disposition is permitted hereby, the Agent shall, upon timely notice from the Borrowers, release such portions of the Collateral from the security interests and liens imposed by the Collateral Documents as may be specified by the Borrowers or Guarantors in order for the relevant Borrower or Guarantor to consummate such proposed sale or disposition, provided that at or prior to the time of such proposed sale or disposition no Default or Unmatured Default shall have occurred and be continuing, including, without limitation, any Unmatured Default or Default that would arise upon consummation of such sale or disposition. For purposes of the preceding sentence, the Borrowers shall give timely notice if, not less than two Business Days prior to the date of such proposed sale or disposition, it shall furnish to the Agent an officers' certificate setting forth in reasonable detail the circumstances of such proposed sale or disposition.
Collateral Management. If the UCITS or the sub-fund conducts OTC transactions, then this may expose it to risks in conjunction with the credit- worthiness of the OTC counterparties: when concluding futures contracts, options and swap transactions, or using other derivative methods, the UCITS or the sub-fund is subject to the risk of an OTC counterparty failing (or being unable) to fulfil its obligations arising out of a specific contract or several contracts. The counterparty risk may be reduced by the deposition of a security. If the UCITS or the sub-fund owes a security in accordance with applicable agreements, then this shall be held for safekeeping by the or for the custodian on behalf of the respective sub-fund. Incidents of bankrupt- cy and insolvency or other credit default events at the custodian or within its sub-custodians or network of correspond- ence banks may cause the rights of the UCITS in conjunction with the security to be shifted or limited in another manner. If the UCITS or the sub-fund owes the OTC counterparty a security in accordance with the applicable agreements, then a security of this nature must be assigned, as agreed between the UCITS and the OTC counterparty, to the OTC counter- party. Cases of bankruptcy and insolvency or other credit default events affecting the OTC counterparty, the custodian or within its network of sub-custodians or correspondence banks may cause the rights or the recognition of the UCITS to be delayed, restricted or even excluded in respect of the security, thus obliging the UCITS to fulfil its obligations within the framework of the OTC transaction irrespective of any possible securities which were provided to cover an obligation of this nature. Issuer’s risk (creditworthiness risk) The deterioration in the solvency or indeed the bankruptcy of an issuer may result in at least a partial loss for the assets. Counterparty risk The risk consists of the fact that the fulfilment of transactions which are concluded for the account of the assets are jeop- ardised by liquidity difficulties or the bankruptcy of the corresponding counterparty. Monetary value risk Inflation can reduce the value of the investments of the assets. The purchasing power of the invested capital sinks if the inflation rate is higher than the returns generated by the investments. Economic risk This is the risk of price losses brought about by a failure to take proper or correct account of economic developments at the time of the investment decision, resulting in...
Collateral Management. Section 6.1 Appointment of the Collateral Manager 110 Section 6.2 Duties of the Collateral Manager 110 Section 6.3 Authorization of the Collateral Manager 116 Section 6.4 Collection of Payments; Accounts 117 Section 6.5 Realization Upon Defaulted Loans 118 Section 6.6 Collateral Manager Compensation 118 Section 6.7 Expense Reimbursement 118 Section 6.8 Reports; Information 119
Collateral Management. (a) The Borrower hereby appoints the Collateral Manager and the Collateral Manager hereby accepts such appointment as its portfolio manager and attorney in fact for purposes of performing all actions permitted or required to be performed by the Borrower under any Loan Document, including without limitation: (i) determining specific Proposed Assets to be purchased or Assets to be sold by the Borrower (and executing trades on behalf of the Borrower), taking into consideration the provisions of the Loan Documents and the Borrower’s Organizational Documents and the expected funding of the Borrower from the proceeds of the Parent Offering Transaction on the Maturity Date, and in the event the Parent Offering Transaction does not occur, to preserve and maximize the value of the Collateral such that the liquidation thereof would satisfy in full all Obligations in accordance with the terms hereof; (ii) acting upon requests for waiver, modification or amendment of the terms of the Assets; and (iii) consulting and negotiating with the Lender in connection with any sale of Assets hereunder including pursuant to Section 6.16.
