Collateral Agent and the Sample Clauses
The 'Collateral Agent and the' clause defines the role and responsibilities of the collateral agent in a financial or lending agreement. Typically, this clause outlines how the collateral agent acts on behalf of all secured parties, manages the collateral, and enforces security interests if a default occurs. For example, the collateral agent may be responsible for holding security interests in pledged assets or coordinating the sale of collateral in the event of borrower default. The core function of this clause is to centralize the administration and enforcement of collateral, ensuring efficiency and consistency in protecting the interests of all secured parties.
Collateral Agent and the. Senior Claimants are hereby ------- authorized to demand specific performance of this Agreement, whether or not Navy I shall have complied with the provisions hereof applicable to it, at any time when Junior Claimant shall have failed to comply with any provision hereof applicable to it. Junior Claimant hereby irrevocably waives any defense based on the adequacy of a remedy at law which might be asserted as a bar to the remedy of specific performance hereof in any action brought therefor by the Senior Claimants. Junior Claimant further waives presentment, notice and protest in connection with all negotiable instruments evidencing Senior Claims or Subordinated O&M Fees to which Junior Claimant may be a party, notice of the acceptance of this Agreement by the Senior Claimants, notice of any loan made, extension granted or other action taken in reliance hereon, and all demands and notices of every kind in connection with this Agreement, Senior Claims or time of payment of Senior Claims or Subordinated O&M Fees. Junior Claimant hereby assents to any renewal, extension or postponement of the time of payment of Senior Claims or any other indulgence with respect thereto, to any increase in the amount of Senior Claims, to any substitution, exchange or release of collateral therefor and to the addition or release of any person primarily or secondarily liable thereon and assents to the provisions of any instrument, security or other writing evidencing Senior Claims.
Collateral Agent and the. Required Lenders hereby consent to the proposed treatment of the Warrants as set forth in Section 5.17 of the Merger Agreement.
Collateral Agent and the. Insurance Provider of a certificate of the Servicer stating that all conditions precedent contained in this Section 2.5 have been satisfied, the Collateral Agent shall execute and deliver to the Debtor, at the Debtor's expense, such documents or instruments as are reasonably necessary to terminate the Collateral Agent's security interest in the Receivables and related Contracts subject to such Take-Out and the proceeds thereof; provided, that the Collateral Agent shall not terminate its security interest in any such Receivable if such Receivable is intended by the Debtor to be included in the calculation of Borrowing Base to be calculated immediately after such Take-Out. Any such documents shall be prepared by the Servicer on behalf of the Debtor and shall specifically identify (by loan or account number and outstanding Principal Balance) the Receivables in which the Collateral Agent's security interest is to be released. On or prior to each Removal Date, the Debtor shall deliver to the Collateral Agent, the Insurance Provider and the Administrative Agent a computer file, microfiche list or printed list containing a true and complete list of all such Receivables to be released, identified by account number and principal balance as of the related Removal Date. Such file or list, when taken together with the list provided pursuant to Section 2.1 hereof, shall constitute the Receivables Schedule as of such Removal Date after giving effect to such removal.