Common use of Collateral Account Agreement; Subsidiary Borrower Guaranty Clause in Contracts

Collateral Account Agreement; Subsidiary Borrower Guaranty. Each Lender hereby further authorizes Administrative Agent, on behalf of and for the benefit of Lenders, to accept the Subsidiary Borrower Guaranty and, as secured party on behalf of and for the benefit of Agents and Lenders, to enter into a collateral account agreement as contemplated by Section 10 of this Agreement, and agrees to be bound by the terms of any such collateral account agreement. Anything contained in any of the Loan Documents to the contrary notwithstanding, each Lender agrees that no Lender shall have any right individually to realize upon any of the collateral under any such collateral account agreement or to enforce the Subsidiary Borrower Guaranty, it being understood and agreed that all rights and remedies under the Subsidiary Borrower Guaranty and any such collateral account agreement may be exercised solely by Administrative Agent for the benefit of Agents and Lenders in accordance with the terms thereof. Administrative Agent will not release Company from its obligations under the Subsidiary Borrower Guaranty and will not release any collateral under any such collateral account agreement without the prior written consent of all Lenders.

Collateral Account Agreement; Subsidiary Borrower Guaranty. Each Lender hereby further authorizes Administrative Agent, on behalf of and for the benefit of Lenders, to accept the Subsidiary Subsi diary Borrower Guaranty and, as secured party on behalf of and for the benefit of Agents and Lenders, to enter into a collateral account agreement as contemplated by Section 10 of this Agreement, and agrees to be bound by the terms of any such collateral account agreement. Anything contained in any of the Loan Documents to the contrary notwithstanding, each Lender agrees that no Lender shall have any right individually to realize upon any of the collateral under any such collateral account agreement or to enforce the Subsidiary Borrower Guaranty, it being understood and agreed that all rights and remedies under the Subsidiary Borrower Guaranty and any such collateral account agreement may be exercised solely by Administrative Agent for the benefit of Agents and Lenders in accordance with the terms thereof. Administrative Agent will not release Company from its obligations under the Subsidiary Borrower Guaranty and will not release any collateral under any such collateral account agreement without the prior written consent of all Lenders.