Common use of Appointment of Process Collateral Agent Clause in Contracts

Appointment of Process Collateral Agent. The Creditor hereby irrevocably appoints the Borrower (the "Process Collateral Agent"), as its authorized agent with all powers necessary to receive on its behalf service of copies of the summons and complaint and any other process which may be served in any action or proceeding arising out of or relating to this Agreement in any of the courts in and of the State of New York. Such service may be made by mailing or delivering a copy of such process to the Creditor in care of the Process Collateral Agent at the Process Collateral Agent's address, and the Creditor hereby irrevocably authorizes and directs the Process Collateral Agent to accept such service on its behalf and agrees that the failure of the Process Collateral Agent to give any notice of any such service to the Creditor shall not impair or affect the validity of such service or of any judgment rendered in any action or proceeding based thereon. As an alternative method of service, the Creditor also irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to the Creditor at its address specified in Section 17. If for any reason the Borrower shall cease to act as Process Collateral Agent, the Creditor shall appoint forthwith, in the manner provided for herein, a successor Process Collateral Agent qualified to act as an Collateral Agent for service of process with respect to all courts in and of the State of New York and acceptable to the Collateral Agent.

Appointment of Process Collateral Agent. The Creditor hereby irrevocably appoints the Borrower (the "Process Collateral Agent"), as its authorized agent with all powers necessary to receive on its behalf service of copies of the summons and complaint and any other process which may be served in any action or proceeding arising out of or relating to this Agreement in any of the courts in and of the State of New York. Such service may be made by mailing or delivering a copy of such process to the Creditor in care of the Process Collateral Agent at the Process Collateral Agent's address, and the Creditor hereby irrevocably authorizes and directs the Process Collateral Agent to accept such service on its behalf and agrees that the failure of the Process Collateral Agent to give any notice of any such service to the Creditor shall not impair or affect the validity of such service or of any judgment rendered in any action or proceeding based thereon. As an alternative method of service, the Creditor also irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to the Creditor at its address specified in Section 17. If for any reason the Borrower shall cease to act as Process Collateral Agent, the Creditor shall appoint forthwith, in the manner provided for herein, a successor Process Collateral Agent qualified to act as an Collateral Agent for service of process with respect to all courts in and of the State of New York and acceptable to the Collateral Agent.an

Appointment of Process Collateral Agent. The Creditor hereby irrevocably appoints the Borrower (the "Process Collateral Agent"), as its authorized agent with all powers necessary to receive on its behalf service of copies of the summons and complaint and any other process which may be served in any action or proceeding arising out of or relating to this Agreement in any of the courts in and of the State of New York. Such service may be made by mailing or delivering a copy of such process to the Creditor in care of the Process Collateral Agent at the Process Collateral Agent's address, and the Creditor hereby irrevocably authorizes and directs the Process Collateral Agent to accept such service on its behalf and agrees that the failure of the Process Collateral Agent to give any notice of any such service to the Creditor shall not impair or affect the validity of such service or of any judgment rendered in any action or proceeding based thereon. As an alternative method of service, the Creditor also irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to the Creditor at its address specified in Section 17. If for any reason the Borrower shall cease to act as Process Collateral Agent, the Creditor shall appoint forthwith, in the manner provided for herein, a successor Process Collateral Agent qualified to act as an Collateral Agent for service of process with respect to all courts in and of the State of New York and acceptable to the Collateral Agent.Collateral