Additional Collateral Agent Clause Samples
The 'Additional Collateral Agent' clause defines the appointment or inclusion of an extra party to act as a collateral agent in a financing arrangement. This clause typically outlines the circumstances under which an additional collateral agent may be designated, the scope of their authority, and their responsibilities in managing or holding collateral on behalf of the secured parties. For example, if the original collateral agent cannot act in a certain jurisdiction or for specific assets, an additional agent may be appointed to ensure proper administration. The core function of this clause is to provide flexibility and continuity in collateral management, ensuring that the interests of the secured parties are protected even if the original agent cannot fulfill all required duties.
Additional Collateral Agent. The Collateral Agent may at any time appoint (and subsequently remove) any person to act as a separate Collateral Agent or as a cotrustee jointly with it (any such person, an “Additional Collateral Agent”):
(a) if it is necessary in performing its duties and if the Collateral Agent considers that appointment to be in the interest of the Secured Parties; or
(b) for the purposes of complying with or confirming to any legal requirements, restrictions or conditions which the Collateral Agent deems to be relevant; or
(c) for the purposes of obtaining or enforcing any judgment or decree in any jurisdiction, and the Collateral Agent will give notice to the Administrative Borrower and the Administrative Agent of any such appointment.
Additional Collateral Agent. If so agreed by the Collateral Agent, the EE Service Provider and the Issuer, an additional entity, the shares of which are owned solely by the EE Service Provider, may be nominated as an additional agent for holding or enforcing Collateral which is subject to law other than Estonian law. In such an event, the Parties shall consent to such additional agent becoming a party to this Agreement in the same capacity as the Collateral Agent. In case of additional DJHQW·V QRPLQDWLRQ WKLV $JUHHPHQW VKDOO EH DPHQG agent to be able to perform its obligations under this Agreement (if any such amendments are needed). Such amendments (if any) shall be done by the Parties in spirit and commercial objectives of this Agreement, as well as the principle of good faith. For the avoidance of doubt, in derogation from Clause 5.3, no consent of any Investors shall be necessary for any such amendment.
Additional Collateral Agent. If so agreed by the Collateral Agent, the EE Service Provider and the Issuer, an additional entity, the shares of which are owned solely by the EE Service Provider, may be nominated as an additional agent for holding or enforcing Collateral which is subject to law other than Estonian law. In such an event, the Parties shall consent to such additional agent becoming a party to this Agreement in the same capacity as the Collateral Agent. In case of additional agent’s nomination, this Agreement shall be amended to the extent needed for that additional agent to be able to perform its obligations under this Agreement (if any such amendments are needed). Such amendments (if any) shall be done by the Parties in spirit and commercial objectives of this Agreement, as well as the principle of good faith. For the avoidance of doubt, in derogation from Clause 5.3, no consent of any Investors shall be necessary for any such amendment.
Additional Collateral Agent. 11.03(b) Additional Guarantor ............................................................................. 1.01(e) Additional Intercreditor Agreement ....................................................... 4.25 Affiliate Transaction ............................................................................... 4.11