Appointment of the Collateral Manager Sample Clauses

Appointment of the Collateral Manager. The Collateral Manager is hereby appointed as collateral manager and servicing agent of the Borrower for the purpose of performing certain collateral management functions including, without limitation, directing and supervising the investment and reinvestment of the Loans and Permitted Investments, servicing the Collateral, enforcing the Borrower’s rights and remedies in, to and under the Collateral and performing certain administrative functions on behalf of the Borrower delegated to it under this Agreement and in accordance with the applicable provisions of the Transaction Documents, and the Collateral Manager hereby accepts such appointment. The Collateral Manager shall have the power to execute and deliver all necessary and appropriate documents and instruments on behalf of the Borrower in connection with performing its obligations set forth herein. Except as may otherwise be expressly provided in this Agreement, the Collateral Manager will perform its obligations hereunder in accordance with the Collateral Manager Standard. The Collateral Manager and the Borrower hereby acknowledge that the Collateral Agent, the Administrative Agent, the Equityholder and the other Secured Parties are third party beneficiaries of the obligations undertaken by the Collateral Manager hereunder.
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Appointment of the Collateral Manager. The Issuer hereby appoints the Collateral Manager as its investment adviser and manager, from and after the Restatement Effective Date, with respect to the Collateral and authorizes the Collateral Manager, from and after the Restatement Effective Date, to perform such services and take such actions on its behalf as are contemplated hereby and to exercise such other powers as are delegated to the Collateral Manager hereby, in each case, together with such authority and powers as are reasonably incidental thereto.
Sample 1
Appointment of the Collateral Manager. (a) Each Borrower Party appoints the Collateral Manager as its collateral manager and advisor with respect to the Collateral and authorizes the Collateral Manager to perform such services and take such actions on its behalf as are contemplated hereunder and to exercise such other powers as are delegated to the Collateral Manager hereunder, in each case together with such authority and powers as are reasonably incidental thereto. Except as set forth in the immediately succeeding sentence, the Collateral Manager may not delegate or assign any of its rights or obligations as Collateral Manager hereunder without the prior written consent of the Administrative Agent and the Equity Investors. Notwithstanding the preceding sentence, the Collateral Manager may, without the prior written consent of the Administrative Agent or the Equity Investors, assign and delegate its rights and obligations as Collateral Manager hereunder to any of its Affiliates, (b) to the surviving entity of a merger, consolidation or restructuring of the Collateral Manager, (c) subject to the consent of the Administrative Agent (such consent to not be unreasonably withheld) to any other entity; provided that such Affiliate, successor or transferee (i) has demonstrated an ability to professionally and competently perform duties similar to those imposed upon the Collateral Manager pursuant to this Agreement, (ii) has the legal right and capacity to act as Collateral Manager under this Agreement, (iii) shall not cause any of the Borrower Parties or the pool of Collateral Obligations to become required to register under the provisions of the 1940 Act, (iv) by its appointment will not cause any of the Borrower Parties to be treated as a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes or subject to U.S. federal, state or local income tax on a net income basis (including any tax liability imposed under Section 1446 of the Code), (v) employs substantially similar personnel as the Collateral Manager (in expertise and experience) and (vi) has been subject to customary know-your-customer and anti-money laundering procedures, which the Administrative Agent has satisfactorily completed prior to such assignment or (d) if such delegation or assignment relates solely to rights or obligations that are ministerial in nature, any other Person. Promptly following any delegation or assignment pursuant to the immediately preceding sentence, the Collateral Manager shall pr...
Sample 1
Appointment of the Collateral Manager. The Borrower appoints the Collateral Manager as its investment manager and advisor with respect to the Collateral and authorizes the Collateral Manager to perform such services and take such actions on its behalf as are contemplated hereunder and to exercise such other powers as are delegated to the Collateral Manager hereunder, in each case together with such authority and powers as are reasonably incidental thereto. Except as set forth in the immediately succeeding sentence, the Collateral Manager may not delegate or assign any of its rights or obligations as Collateral Manager hereunder without the prior written consent of the Administrative Agent and the Member. Notwithstanding the preceding sentence, the Collateral Manager may, without the prior written consent of the Administrative Agent or the Member, assign and delegate its rights and obligations as Collateral Manager hereunder to any of its Affiliates or, if such delegation or assignment relates solely to rights or obligations that are ministerial in nature, any other Person. Promptly following any delegation or assignment pursuant to the immediately preceding sentence, the Collateral Manager shall provide written notice thereof to the Administrative Agent and the Member.
Sample 1
Appointment of the Collateral Manager. The Collateral Manager is hereby appointed as collateral manager and servicing agent of the Borrower for the purpose of performing certain collateral management functions including, without limitation, directing and supervising the investment and reinvestment of the Loans and Permitted Investments, servicing the Collateral, enforcing the Borrower’s rights and remedies in, to and under the Collateral and performing certain administrative functions on behalf of the Borrower delegated to it under this Agreement and in accordance with the applicable provisions of this Agreement, and the Collateral Manager hereby accepts such appointment. The Collateral Manager shall have the power to execute and deliver all necessary and appropriate documents and instruments on behalf of the Borrower in connection with performing its obligations set forth herein. Except as may otherwise be expressly provided in this Agreement, the Collateral Manager will perform its obligations hereunder in accordance with the Collateral Manager Standard. The Collateral Manager and the Borrower hereby acknowledge that the Collateral Agent, the Administrative Agent, the Equity Investor and the other Secured Parties are third party beneficiaries of the obligations undertaken by the Collateral Manager hereunder. -92- USActive 57310676.6USActive 60324964.3
Sample 1

Related to Appointment of the Collateral Manager

  • Appointment of Collateral Agent Each Secured Party hereby irrevocably designates JPMorgan Chase Bank, N.A. as Collateral Agent under this Agreement and the other Loan Documents. The Secured Parties each hereby (i) irrevocably authorizes the Collateral Agent (x) to enter into the Loan Documents to which it is a party, and (y) at its discretion, to take or refrain from taking such actions as agent on its behalf and to exercise or refrain from exercising such powers under the Loan Documents as are delegated by the terms hereof or thereof, as appropriate, together with all powers reasonably incidental or related thereto, and (ii) agrees and consents 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 own benefit and for the ratable benefit of the other Credit 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 this Agreement and the other Loan Documents. 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 other Secured Party, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent.

  • Appointment of the Agents (A) Each other Finance Party (other than the relevant Agent) appoints each Agent to act in that capacity under and in connection with the Finance Documents.

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