Common use of Appointment of Collateral Agents Clause in Contracts

Appointment of Collateral Agents. In case of the pendency of any Bankruptcy Proceeding or other judicial proceeding relative to any Grantor or Guarantor, the Agent shall be entitled and empowered, by intervention in such proceeding or otherwise, (a) to file and prove a claim for the whole amount of the Obligations and other amounts due under the Transaction Documents or this Agreement and to file such other papers or documents as may be necessary or advisable in order to have such claims and amounts due allowed in such Bankruptcy Proceeding or judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims or other amounts due and to distribute the same in accordance with the provisions hereof. Nothing in this paragraph shall be deemed to authorize the Agent to authorize or consent to or accept or adopt on behalf of any 2005 Lender any plan or reorganization, arrangement, adjustment or composition affecting the Obligations or other amounts due under the Transaction Documents or this Agreement, or to authorize the Agent to vote in respect of the Obligations or other amounts due in any such Bankruptcy Proceeding or judicial proceeding.

Appointment of Collateral Agents. In case of the pendency of any Bankruptcy Proceeding or other judicial proceeding relative to any Grantor or Guarantor, the Xxxxxx Agent and the 2004 Agent shall be entitled and empowered, by intervention in such proceeding or otherwise, (a) to file and prove a claim for the whole amount of the Obligations and other amounts due under the Transaction Financing Documents, the Security Documents or this Agreement and to file such other papers or documents as may be necessary or advisable in order to have such claims and amounts due allowed in such Bankruptcy Proceeding or judicial proceeding, and (b) to collect and receive any moneys or other property payable or deliverable on any such claims or other amounts due and to distribute the same in accordance with the provisions hereof. Nothing in this paragraph shall be deemed to authorize the 2004 Agent to authorize or consent to or accept or adopt on behalf of any 2005 Lender 2004 Purchaser, 2003 Holder or 2002 Holder any plan or reorganization, arrangement, adjustment or composition affecting the Obligations or other amounts due under the Transaction Financing Documents, the Security Documents or this Agreement, or to authorize the 2004 Agent to vote in respect of the Obligations or other amounts due in any such Bankruptcy Proceeding or judicial proceeding.