Appointment and Duties of Collateral Agent. Each Lender, the Administrative Agent, the Issuing Banks, the Acceptance Lenders and each Secured Party hereby irrevocably (i) designate Bank of America, N.A. as Collateral Agent under this Agreement and the other Loan Documents, (ii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder, together with all powers reasonably incidental thereto, and (iii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in Sections 2.20, 2.24, or 7.3, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other Loan Documents, nor shall it have any fiduciary relationship with any Lender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent. Without limiting the generality of the foregoing, for the purposes of creating a solidarite′ active in accordance with Article 1541 of the Civil Code, between each Secured Party, taken individually, and the Collateral Agent, each Loan Party and each Secured Party (on its own behalf) acknowledges and agrees with the Collateral Agent that such Secured Party and the Collateral Agent are conferred the legal status of solidary creditors of each Loan Party in respect of all Obligations, present and future, owed by each Loan Party to each Secured Party and the Agents hereunder and under the other Loan Documents (collectively, the “Solidary Claim”). Accordingly, but subject (for the avoidance of doubt) to Article 1542 of the Civil Code, each Loan Party is irrevocably bound to the Collateral Agent and each other Secured Party in respect of the entire Solidary Claim of the Collateral Agent and such Secured Party. As a result of the foregoing, the parties hereto acknowledge that the Collateral Agent and each other Secured Party shall at all times have a valid an...
Appointment and Duties of Collateral Agent. (a) The Lenders hereby designate and appoint Citibank to act as the Collateral Agent hereunder and under the other Loan Documents, and each of the Lenders hereby authorizes Citibank as such Collateral Agent, to take such actions on its behalf hereunder and under the provisions of the other Loan Documents and to exercise such powers and perform such duties expressly delegated to the Collateral Agent hereunder and under the other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in the Loan Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the other Loan Documents, or any fiduciary relationship with any Lender, and no implied covenants, functions or responsibilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any Loan Document, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.
Appointment and Duties of Collateral Agent. Each Lender, the Administrative Agent, the Issuing Banks, the Acceptance Lenders and each Secured Party hereby irrevocably (i) designate Bank of America, N.A. as Collateral Agent under this Agreement and the other Loan Documents, (ii) authorize the Collateral Agent to enter into the Security Documents and the other Loan Documents to which it is a party and to perform its duties and obligations thereunder, together with all powers reasonably incidental thereto, and (iii) agree and consent to all of the provisions of the Security Documents. All Collateral shall be held or administered by the Collateral Agent (or its duly-appointed agent) for its benefit and for the ratable benefit of the other Secured Parties. Any proceeds received by the Collateral Agent from the foreclosure, sale, lease or other disposition of any of the Collateral and any other proceeds received pursuant to the terms of the Security Documents or the other Loan Documents shall be paid over to the Administrative Agent for application as provided in Sections 2.20, 2.24, or 7.3, as applicable. The Collateral Agent shall have no duties or responsibilities except as set forth in this Agreement and the other Loan Documents, nor shall it have any fiduciary relationship with any Lender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.
Appointment and Duties of Collateral Agent. (a) Each of the Secured Parties hereby designates and appoints Barclays Bank PLC to act as the Collateral Agent under the Security Documents, and authorizes the Collateral Agent to execute each of the Security Documents on its behalf and take such actions on its behalf under the provisions of the Security Documents and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of the Security Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary in any Security Document, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the Security Documents, and no implied covenants, functions or responsibilities, fiduciary or otherwise, shall be read into any of the Security Documents or otherwise exist against the Collateral Agent. Without limiting the generality of the foregoing, the use of the term “agent” herein and in the other Credit Documents with reference to any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.
Appointment and Duties of Collateral Agent. (a) The Secured Parties hereby designate and appoint Chase Manhattan Bank and Trust Company, National Association to act as the Collateral Agent under this Agreement and the other Security Documents, and each of the Secured Parties hereby authorizes Chase Manhattan Bank and Trust Company, National Association, as the Collateral Agent, to take such actions on its behalf under the provisions of this Agreement and the other Security Documents, and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the other Security Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement or in the other Security Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth in this Agreement and in the other Security Documents, or any fiduciary relationship with any of the Secured Parties, and no implied covenants, functions or responsibilities shall be read into this Agreement or the other Security Documents, or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any other Security Document, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.
Appointment and Duties of Collateral Agent. (a) Each of the Senior Parties and the Authority Trustee hereby designates and appoints The Chase Manhattan Bank to act as the Collateral Agent under this Agreement and the other Financing Documents to which the Collateral Agent is a party, and each of the Senior Parties and the Authority Trustee hereby authorize the Collateral Agent to take such actions on its behalf under the provisions of this Agreement and the other Financing Documents to which the Collateral Agent is a party and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the other Financing Documents to which the Collateral Agent is a party, together with such other powers as are reasonably incidental thereto. The execution of this Agreement by the Collateral Agent shall be deemed an acceptance by the Collateral Agent of the appointment made under this SECTION 6.1 and an agreement to act as agent on behalf of the Senior Parties and the Authority Trustee. Notwithstanding any provision to the contrary elsewhere in this Agreement and the other Financing Documents to which the Collateral Agent is a party, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth in this Agreement and the other Financing Documents to which the Collateral Agent is a party, or any fiduciary relationship with any Senior Party, and no implied covenants, functions or responsibilities shall be read into this Agreement or any other Financing Document to which the Collateral Agent is a party or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any other Financing Document to which the Collateral Agent is a party, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.
Appointment and Duties of Collateral Agent. (a) The Purchasers hereby designate and appoint Nite Capital Master, LTD to act as the Collateral Agent and hereby authorize Nite Capital Master, LTD, as the Collateral Agent, to take such actions on their behalf under the provisions of this Agreement, the Security Documents and the Intercreditor Agreement and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms hereof and thereof. The Collateral Agent shall hold and safeguard the Collateral during the term of this Agreement in trust for the Purchasers, and shall hold the Collateral in accordance with the terms of the Security Documents and as security for the obligations of the Company under the Transaction Documents.
Appointment and Duties of Collateral Agent. (a) Subject in all respects to the terms and provisions of this Agreement, the Holders hereby designate and appoint Prudential to act as the Collateral Agent under this Agreement and the other Collateral Documents for the benefit of the Holders with respect to the Liens upon and the security interests in the Collateral and the rights and remedies granted under and pursuant to this Agreement and the other Collateral Documents, and Prudential hereby accepts such appointment and agrees to act as such agent.
Appointment and Duties of Collateral Agent. (a) Each of the Secured Parties hereby designates and appoints The Chase Manhattan Bank to act as the Collateral Agent under this Agreement and the other Finance Documents to which the Collateral Agent is a party, and each of the Secured Parties hereby authorizes the Collateral Agent to take such actions on its behalf under the provisions of this Agreement and the other Finance Documents to which the Collateral Agent is a party and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the other Finance Documents to which the Collateral Agent is a party, together with such other powers as are reasonably incidental thereto. The execution of this Agreement by the Collateral Agent shall be deemed an acceptance by the Collateral Agent of the
Appointment and Duties of Collateral Agent. (a) Each Investor hereby irrevocably appoints and authorizes CapitalSouth Partners Fund II Limited Partnership (and any successor Person or replacement selected by the Investors) to act as Collateral Agent (the “Collateral Agent”) hereunder and under the other Investment Documents and to take such actions as agent on its behalf hereunder and under the other Investment Documents, and to exercise such powers and to perform such duties, as are specifically delegated to the Collateral Agent by the terms hereof or thereof, together with such other powers and duties as are reasonably incidental thereto.
