{"component": "clause", "props": {"groups": [{"samples": [{"hash": "7mN9sefHnlT", "uri": "/contracts/7mN9sefHnlT#collateral-management", "label": "Amendment No. 2 to Facility Documents (Blue Owl Technology Income Corp.)", "score": 35.7898712158, "published": true}], "snippet_links": [{"key": "designation-of-the-collateral-manager", "type": "clause", "offset": [14, 51]}, {"key": "duties-of-the-collateral-manager", "type": "clause", "offset": [70, 102]}, {"key": "authorization-of-the-collateral-manager", "type": "clause", "offset": [121, 160]}, {"key": "separateness-provisions-of-the-borrower", "type": "clause", "offset": [179, 218]}, {"key": "the-collateral-manager-not-to-resign", "type": "clause", "offset": [312, 348]}, {"key": "appointment-of-successor-collateral-manager", "type": "clause", "offset": [379, 422]}, {"key": "designation-of-collateral-administrator", "type": "clause", "offset": [441, 480]}, {"key": "certain-duties-and-powers", "type": "clause", "offset": [499, 524]}, {"key": "certain-rights-of-collateral-administrator", "type": "clause", "offset": [543, 585]}, {"key": "compensation-and-reimbursement-of-collateral-administrator", "type": "clause", "offset": [604, 662]}, {"key": "resignation-and-removal", "type": "clause", "offset": [681, 704]}, {"key": "acceptance-and-appointment-by-successor", "type": "clause", "offset": [749, 788]}, {"key": "certain-duties-of-collateral-administrator-related-to-delayed-payment-of-proceeds", "type": "clause", "offset": [913, 994]}], "size": 8, "snippet": "Section 14.01 Designation of the Collateral Manager 186 Section 14.02 Duties of the Collateral Manager 186 Section 14.03 Authorization of the Collateral Manager 188 Section 14.04 Separateness Provisions of the Borrower 189 Section 14.05 Compensation 189 Section 14.06 Expenses; Indemnification 189 Section 14.07 The Collateral Manager Not to Resign; Assignment 190 Section 14.08 Appointment of Successor Collateral Manager 190 Section 15.01 Designation of Collateral Administrator 192 Section 15.02 Certain Duties and Powers 192 Section 15.03 Certain Rights of Collateral Administrator 195 Section 15.04 Compensation and Reimbursement of Collateral Administrator 197 Section 15.05 Resignation and Removal; Appointment of Successor 198 Section 15.06 Acceptance and Appointment by Successor 199 Section 15.07 Merger, Conversion, Consolidation or Succession to Business of Collateral Administrator 199 Section 15.08 Certain Duties of Collateral Administrator Related to Delayed Payment of Proceeds 199", "hash": "5c1e023a1a46d586012bc8e040d42106", "id": 1}, {"samples": [{"hash": "8J8tODXJbPv", "uri": "/contracts/8J8tODXJbPv#collateral-management", "label": "Credit Agreement (MSX International Inc)", "score": 18.0, "published": true}, {"hash": "6hUy5b3a1mI", "uri": "/contracts/6hUy5b3a1mI#collateral-management", "label": "Credit Agreement (MSX International Business Services Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "on-behalf-of", "type": "clause", "offset": [31, 43]}, {"key": "the-lenders", "type": "clause", "offset": [51, 62]}, {"key": "further-consent", "type": "clause", "offset": [93, 108]}, {"key": "from-time-to-time", "type": "clause", "offset": [126, 143]}, {"key": "prior-to-an-event-of-default", "type": "clause", "offset": [144, 172]}, {"key": "any-action", "type": "definition", "offset": [182, 192]}, {"key": "with-respect-to", "type": "clause", "offset": [193, 208]}, {"key": "the-collateral", "type": "clause", "offset": [209, 223]}, {"key": "the-security-documents", "type": "clause", "offset": [227, 249]}, {"key": "collateral-granted", "type": "clause", "offset": [355, 373]}, {"key": "pursuant-to-the-security", "type": "clause", "offset": [374, 398]}, {"key": "security-interests-and-liens", "type": "clause", "offset": [466, 494]}, {"key": "in-connection-with", "type": "clause", "offset": [529, 547]}, {"key": "in-the-event", "type": "clause", "offset": [618, 630]}, {"key": "the-borrowers", "type": "clause", "offset": [636, 649]}, {"key": "the-guarantors", "type": "clause", "offset": [653, 667]}, {"key": "to-sell", "type": "clause", "offset": [675, 682]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [686, 706]}, {"key": "sale-or-disposition", "type": "clause", "offset": [727, 746]}, {"key": "the-agent-shall", "type": "clause", "offset": [768, 783]}, {"key": "notice-from-the-company", "type": "clause", "offset": [797, 820]}, {"key": "proposed-sale", "type": "clause", "offset": [1053, 1066]}, {"key": "provided-that", "type": "clause", "offset": [1083, 1096]}, {"key": "prior-to-the", "type": "clause", "offset": [1103, 1115]}, {"key": "default-shall", "type": "definition", "offset": [1189, 1202]}, {"key": "without-limitation", "type": "clause", "offset": [1247, 1265]}, {"key": "consummation-of", "type": "clause", "offset": [1329, 1344]}, {"key": "for-purposes-of-the", "type": "clause", "offset": [1371, 1390]}, {"key": "the-company-shall", "type": "clause", "offset": [1411, 1428]}, {"key": "days-prior", "type": "definition", "offset": [1479, 1489]}, {"key": "date-of", "type": "clause", "offset": [1497, 1504]}, {"key": "furnish-to-the-agent", "type": "clause", "offset": [1549, 1569]}, {"key": "an-officers", "type": "clause", "offset": [1570, 1581]}], "size": 7, "snippet": "The Agent is hereby authorized on behalf of all of the Lenders, without the necessity of any further consent from any Lender, from time to time prior to an Event of Default, to take any action with respect to the collateral or the Security Documents which may be necessary (i) to perfect and maintain perfected the security interest in and liens upon the collateral granted pursuant to the Security Documents; and (ii) to release portions of the collateral from the security interests and liens imposed by the Security Documents in connection with any dispositions of such portions of the collateral permitted hereby. In the event that the Borrowers or the Guarantors desire to sell or otherwise dispose of any assets and such sale or disposition is permitted hereby, the Agent shall, upon timely notice from the Company, release such portions of the collateral from the security interests and liens imposed by the Security Documents as may be specified by the Borrowers or the Guarantors in order for the Borrowers or the Guarantors to consummate such proposed sale or disposition, provided that at or prior to the time of such proposed sale or disposition no Unmatured Event or Event of Default shall have occurred and be continuing, including, without limitation, any Unmatured Event or Event of Default that would arise upon consummation of such sale or disposition. For purposes of the preceding sentence, the Company shall give timely notice if, not less than two Business Days prior to the date of such proposed sale or disposition, it shall furnish to the Agent an officers' certificate setting forth in reasonable detail the circumstances of such proposed sale or disposition.", "hash": "e3d5e0e9ec5f6ad27f3e0a91b7b26b96", "id": 2}, {"samples": [{"hash": "cuqglOhYdZ8", "uri": "/contracts/cuqglOhYdZ8#collateral-management", "label": "Trust Agreement", "score": 23.8528404236, "published": true}, {"hash": "e3Iw3mscRlr", "uri": "/contracts/e3Iw3mscRlr#collateral-management", "label": "Trust Agreement", "score": 23.6433944702, "published": true}], "snippet_links": [{"key": "otc-transactions", "type": "clause", "offset": [23, 39]}, {"key": "exposed-to", "type": "definition", "offset": [51, 61]}, {"key": "in-connection-with", "type": "clause", "offset": [68, 86]}, {"key": "forward-contracts", "type": "clause", "offset": [161, 178]}, {"key": "swap-transactions", "type": "clause", "offset": [192, 209]}, {"key": "the-risk", "type": "definition", "offset": [267, 275]}, {"key": "counterparty-risk", "type": "clause", "offset": [365, 382]}, {"key": "terms-of", "type": "definition", "offset": [508, 516]}, {"key": "the-account", "type": "clause", "offset": [559, 570]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [582, 600]}, {"key": "the-depositary", "type": "clause", "offset": [601, 615]}, {"key": "events-affecting", "type": "clause", "offset": [661, 677]}, {"key": "correspondent-bank", "type": "clause", "offset": [733, 751]}, {"key": "in-respect-of", "type": "definition", "offset": [808, 821]}, {"key": "collateral-being", "type": "clause", "offset": [826, 842]}, {"key": "other-manner", "type": "clause", "offset": [874, 886]}, {"key": "the-applicable-legislation", "type": "clause", "offset": [894, 920]}, {"key": "require-the", "type": "clause", "offset": [948, 959]}, {"key": "collateral-shall", "type": "definition", "offset": [1018, 1034]}, {"key": "as-agreed", "type": "clause", "offset": [1076, 1085]}, {"key": "the-rights", "type": "clause", "offset": [1309, 1319]}, {"key": "recognition-of", "type": "clause", "offset": [1327, 1341]}, {"key": "obligations-under-the", "type": "clause", "offset": [1476, 1497]}, {"key": "without-recourse", "type": "clause", "offset": [1514, 1530]}], "size": 4, "snippet": "If the AIF carries out OTC transactions, it may be exposed to risks in connection with the cre- ditworthiness of the OTC counterparties since, when it concludes forward contracts, options and swap transactions or uses other derivatives-based techniques, the AIF runs the risk of an OTC counterparty failing to meet its obligations under one or more contracts. This counterparty risk may be reduced if collateral is furnished. Where collateral is provided to the AIF under the ap- plicable legislation or the terms of a contract, it is held in safekeeping for the account of the AIF by or on behalf of the Depositary. Cases of insolvency or other credit default events affecting the Depositary or entities within its sub-depositary / correspondent bank network can result in the AIF's rights and entitlements in respect of the collateral being deferred or restricted in some other manner. Where the applicable legislation or the terms of a contract require the AIF to furnish the OTC counterparty with collateral, that collateral shall be transferred to the OTC coun- terparty as agreed between the AIF and the OTC counterparty. Cases of insolvency or other credit default events affecting the OTC counterparty, the Depositary or entities within its sub- depositary or correspondent bank network can result in the rights or the recognition of the AIF in respect of the collateral being delayed, restricted or even excluded, in which case the AIF would be compelled to meet its obligations under the OTC transaction without recourse to any collateral initially furnished to cover those obligations.", "hash": "2b0780089463ce4092b1dc624a6809da", "id": 3}, {"samples": [{"hash": "bwxN7Q42UUH", "uri": "/contracts/bwxN7Q42UUH#collateral-management", "label": "Loan Agreement (Myers Industries Inc)", "score": 18.0, "published": true}, {"hash": "2pRYexpIG6q", "uri": "/contracts/2pRYexpIG6q#collateral-management", "label": "Loan Agreement (Myers Industries Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "on-behalf-of", "type": "clause", "offset": [31, 43]}, {"key": "the-lenders", "type": "clause", "offset": [48, 59]}, {"key": "further-consent", "type": "clause", "offset": [90, 105]}, {"key": "from-time-to-time", "type": "clause", "offset": [123, 140]}, {"key": "prior-to-a-default", "type": "clause", "offset": [141, 159]}, {"key": "any-action", "type": "definition", "offset": [169, 179]}, {"key": "with-respect-to", "type": "clause", "offset": [180, 195]}, {"key": "the-collateral-documents", "type": "clause", "offset": [214, 238]}, {"key": "collateral-granted", "type": "clause", "offset": [344, 362]}, {"key": "pursuant-to-the", "type": "clause", "offset": [363, 378]}, {"key": "security-interests-and-liens", "type": "clause", "offset": [457, 485]}, {"key": "in-connection-with", "type": "clause", "offset": [522, 540]}, {"key": "by-this-agreement", "type": "clause", "offset": [603, 620]}, {"key": "in-the-event", "type": "clause", "offset": [622, 634]}, {"key": "to-sell", "type": "clause", "offset": [660, 667]}, {"key": "otherwise-dispose-of", "type": "definition", "offset": [671, 691]}, {"key": "sale-or-disposition", "type": "clause", "offset": [712, 731]}, {"key": "the-agent-shall", "type": "clause", "offset": [764, 779]}, {"key": "payment-to-the-agent", "type": "clause", "offset": [825, 845]}, {"key": "net-cash-proceeds", "type": "definition", "offset": [853, 870]}, {"key": "to-the-extent", "type": "clause", "offset": [899, 912]}, {"key": "company-in", "type": "clause", "offset": [1085, 1095]}, {"key": "for-the-company", "type": "clause", "offset": [1102, 1117]}, {"key": "proposed-sale", "type": "clause", "offset": [1157, 1170]}, {"key": "provided-that", "type": "clause", "offset": [1187, 1200]}, {"key": "prior-to-the", "type": "clause", "offset": [1207, 1219]}, {"key": "default-shall", "type": "definition", "offset": [1286, 1299]}, {"key": "without-limitation", "type": "clause", "offset": [1344, 1362]}, {"key": "consummation-of", "type": "clause", "offset": [1419, 1434]}, {"key": "for-purposes-of-the", "type": "clause", "offset": [1461, 1480]}, {"key": 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[2208, 2219]}, {"key": "the-price", "type": "clause", "offset": [2220, 2229]}, {"key": "the-fair-market-value", "type": "clause", "offset": [2249, 2270]}, {"key": "deliver-to", "type": "definition", "offset": [2339, 2349]}, {"key": "the-borrowers", "type": "clause", "offset": [2350, 2363]}, {"key": "financing-statements", "type": "definition", "offset": [2421, 2441]}, {"key": "releases-of-collateral", "type": "clause", "offset": [2798, 2820]}, {"key": "the-terms", "type": "clause", "offset": [2849, 2858]}, {"key": "loan-document", "type": "clause", "offset": [2882, 2895]}, {"key": "approved-by", "type": "definition", "offset": [2931, 2942]}, {"key": "the-required-lenders", "type": "clause", "offset": [2943, 2963]}, {"key": "required-by", "type": "definition", "offset": [2972, 2983]}, {"key": "terms-of", "type": "definition", "offset": [2988, 2996]}, {"key": "section-82", "type": "clause", "offset": [2997, 3008]}, {"key": "in-writing", "type": "clause", "offset": [3030, 3040]}], "size": 4, "snippet": "The Agent is hereby authorized on behalf of all the Lenders, without the necessity of any further consent from any Lender, from time to time prior to a Default, to take any action with respect to the Collateral or the Collateral Documents which may be necessary (i) to perfect and maintain perfected the security interest in and liens upon the Collateral granted pursuant to the Collateral Documents; and (ii) to release portions of the Collateral from the security interests and liens imposed by the Collateral Documents in connection with any dispositions of such portions of the Collateral permitted by this Agreement. In the event that the Company desires to sell or otherwise dispose of any assets and such sale or disposition is permitted by this Agreement, the Agent shall, upon timely notice from the Company and the payment to the Agent of the Net Cash Proceeds of such sale or disposition to the extent required under this Agreement, release such portions of the Collateral from the security interests and liens imposed by the Collateral Documents as may be specified by the Company in order for the Company or its Subsidiaries to consummate such proposed sale or disposition, provided that at or prior to the time of such proposed sale or disposition no Default or Unmatured Default shall have occurred and be continuing, including, without limitation, any Unmatured Default or Default that would arise upon consummation of such sale or disposition. For purposes of the preceding sentence, the Company shall give timely notice to the Agent of such sale or disposition, not less than ten Business Days prior to the date of such proposed sale or disposition. If such sale or disposition would cause a prepayment under this Agreement, the Company shall furnish to the Agent an Officers' Certificate setting forth in reasonable detail the circumstances of such proposed sale or disposition (including a description of the Collateral to be sold or otherwise disposed of, the consideration (if any) to be received and such information as may be required regarding compliance with the relevant provisions of this Agreement, including the amount of any required prepayment hereunder and (if relevant) the approval of the price of such sale as to the fair market value). The Lenders hereby empower and authorize the Agent to execute and deliver to the Borrowers on their behalf the Collateral Documents and all related financing statements and any financing statements, agreements, documents or instructions as shall be necessary or appropriate to effect the purposes of the Collateral Documents. The Lenders hereby empower and authorize the Agent to execute and deliver to the Borrowers on their behalf any agreements, documents or instruments as shall be necessary or appropriate to effect any releases of Collateral which shall be permitted by the terms hereof or of any other Loan Document or which shall otherwise have been approved by the Required Lenders (or, if required by the terms of Section 8.2, all of the Lenders) in writing.", "hash": "f6c7e77844892cf4eccdbcac5976905f", "id": 4}, {"samples": [{"hash": "d1o7M5IzTf0", "uri": "/contracts/d1o7M5IzTf0#collateral-management", "label": "Loan, Security and Collateral Management Agreement (Willow Tree Capital Corp)", "score": 35.8528404236, "published": true}], "snippet_links": [{"key": "section-61", "type": "clause", "offset": [0, 11]}, {"key": "designation-of-the-collateral-manager", "type": "clause", "offset": [12, 49]}], "size": 4, "snippet": "Section 6.1 Designation of the Collateral Manager. 136", "hash": "e25c53166fa83c7fe7c7ba905c11d104", "id": 5}, {"samples": [{"hash": "2UXe29gX0fz", "uri": "/contracts/2UXe29gX0fz#collateral-management", "label": "Loan and Security Agreement (New Mountain Guardian IV BDC, L.L.C.)", "score": 32.6146469116, "published": true}], "snippet_links": [{"key": "section-61", "type": "clause", "offset": [4, 15]}, {"key": "designation-of-the-collateral-manager", "type": "clause", "offset": [17, 54]}, {"key": "section-62", "type": "clause", "offset": [117, 128]}, {"key": "duties-of-the-collateral-manager", "type": "clause", "offset": [130, 162]}, {"key": "section-63", "type": "clause", "offset": [234, 245]}, {"key": "authorization-of-the-collateral-manager", "type": "clause", "offset": [247, 286]}, {"key": "section-64", "type": "clause", "offset": [346, 357]}, {"key": "collection-of-payments", "type": "clause", "offset": [359, 381]}, {"key": "section-65", "type": "clause", "offset": [461, 472]}, {"key": "realization-upon-defaulted-or-delinquent-loans", "type": "clause", "offset": [474, 520]}, {"key": "section-66", "type": "clause", "offset": [566, 577]}, {"key": "section-67", "type": "clause", "offset": [696, 707]}, {"key": "payment-of-certain-expenses-by-collateral-manager", "type": "clause", "offset": [709, 758]}, {"key": "section-68", "type": "clause", "offset": [798, 809]}, {"key": "section-69", "type": "clause", "offset": [930, 941]}, {"key": "annual-statement-as-to-compliance", "type": "clause", "offset": [943, 976]}], "size": 4, "snippet": "109 Section 6.1. Designation of the Collateral Manager. .........................................................109 Section 6.2. Duties of the Collateral Manager. ..................................................................109 Section 6.3. Authorization of the Collateral Manager. ......................................................111 Section 6.4. Collection of Payments; Accounts. ................................................................111 Section 6.5. Realization Upon Defaulted or Delinquent Loans. ........................................112 Section 6.6. [Reserved]. .....................................................................................................113 Section 6.7. Payment of Certain Expenses by Collateral Manager. ..................................113 Section 6.8. Reports. ..........................................................................................................113 Section 6.9. Annual Statement as to Compliance. .............................................................", "hash": "74e1d87b714d0124f084c1350e69dac4", "id": 6}, {"samples": [{"hash": "kMDBBuu2LCf", "uri": "/contracts/kMDBBuu2LCf#collateral-management", "label": "Loan and Security Agreement (Stepstone Private Credit Fund LLC)", "score": 35.8336753845, "published": true}], "snippet_links": [{"key": "section-61", "type": "clause", "offset": [0, 11]}, {"key": "appointment-of-the-collateral-manager", "type": "clause", "offset": [12, 49]}, {"key": "section-62", "type": "clause", "offset": [54, 65]}, {"key": "duties-of-the-collateral-manager", "type": "clause", "offset": [66, 98]}, {"key": "section-63", "type": "clause", "offset": [103, 114]}, {"key": "authorization-of-the-collateral-manager", "type": "clause", "offset": [115, 154]}, {"key": "section-64", "type": "clause", "offset": [159, 170]}, {"key": "collection-of-payments", "type": "clause", "offset": [171, 193]}, {"key": "section-65", "type": "clause", "offset": [208, 219]}, {"key": "realization-upon-defaulted-loans", "type": "clause", "offset": [220, 252]}, {"key": "section-66", "type": "clause", "offset": [257, 268]}, {"key": "collateral-manager-compensation", "type": "clause", "offset": [269, 300]}, {"key": "section-67", "type": "clause", "offset": [305, 316]}, {"key": "expense-reimbursement", "type": "clause", "offset": [317, 338]}, {"key": "section-68", "type": "clause", "offset": [343, 354]}, {"key": "section-69", "type": "clause", "offset": [380, 391]}, {"key": "annual-statement-as-to-compliance", "type": "clause", "offset": [392, 425]}, {"key": "the-collateral-manager-not-to-resign", "type": "clause", "offset": [443, 479]}, {"key": "collateral-manager-termination-events", "type": "clause", "offset": [497, 534]}], "size": 3, "snippet": "Section 6.1 Appointment of the Collateral Manager 110 Section 6.2 Duties of the Collateral Manager 110 Section 6.3 Authorization of the Collateral Manager 116 Section 6.4 Collection of Payments; Accounts 117 Section 6.5 Realization Upon Defaulted Loans 118 Section 6.6 Collateral Manager Compensation 118 Section 6.7 Expense Reimbursement 118 Section 6.8 Reports; Information 119\nSection 6.9 Annual Statement as to Compliance 121\nSection 6.10 The Collateral Manager Not to Resign 121 Section 6.11 Collateral Manager Termination Events 121", "hash": "eb1e51d81841b427430704d703f81667", "id": 7}, {"samples": [{"hash": "6bHNBLDGVhj", "uri": "/contracts/6bHNBLDGVhj#collateral-management", "label": "Trust Agreement", "score": 29.8737468719, "published": true}], "snippet_links": [{"key": "the-ucits", "type": "clause", "offset": [3, 12]}, {"key": "otc-transactions", "type": "clause", "offset": [22, 38]}, {"key": "futures-contracts", "type": "definition", "offset": [157, 174]}, {"key": "swap-transactions", "type": "clause", "offset": [188, 205]}, {"key": "the-risk", "type": "definition", "offset": [268, 276]}, {"key": "arising-out-of", "type": "definition", "offset": [352, 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"size": 3, "snippet": "If the UCITS conducts OTC transactions, then this may expose it to risks in conjunction with the creditworthiness of the OTC counterparties: when concluding futures contracts, options and swap transactions, or using other derivative meth- ods, the UCITS is subject to the risk of an OTC counterparty failing (or being unable) to fulfil its obligations arising out of a specific contract or several contracts. The counterparty risk may be reduced by the deposition of a security. If the UCITS is owed collateral in accordance with applicable agreements, then this shall be held for safekeeping by the or for the Custodian on behalf of the UCITS. Incidents of bankruptcy and insolvency or other credit default events at the Custo- \u2587\u2587\u2587\u2587 or within its sub-custodians or network of correspondence banks may cause the rights of the UCITS in conjunction with the security to be shifted or limited in another manner. If the UCITS owes the OTC counterparty a security in accord- ance with the applicable agreements, then a security of this nature must be assigned, as agreed between the UCITS and the OTC counterparty, to the OTC counterparty. Cases of bankruptcy and insolvency or other credit default events affect- ing the OTC counterparty, the Custodian or within its network of sub-custodians or correspondence banks may cause the rights or the recognition of the UCITS to be delayed, restricted or even excluded in respect of the security, thus obliging the UCITS to fulfil its obligations within the framework of the OTC transaction irrespective of any possible securities that were provided to cover an obligation of this nature. The deterioration in the solvency or indeed the bankruptcy of an issuer may result in at least a partial loss for the assets. The risk consists of the fact that the fulfilment of transactions that are concluded for the account of the assets are jeop- ardised by liquidity difficulties or the bankruptcy of the corresponding counterparty. Inflation can reduce the value of the investments of the assets. The purchasing power of the invested capital sinks if the inflation rate is higher than the returns generated by the investments. This is the risk of price losses brought about by a failure to take proper or correct account of economic developments at the time of the investment decision, resulting in investments being made in securities at the wrong time, or in securities being held during an unfavourable economic phase. Country risk refers to circumstances when a non-domestic debtor is unable to render his performances within the dead- line or not at all, despite being solvent, on account of his domiciliary country being unwilling or unable to perform the transfer (e.g. on the grounds of currency restrictions, transfer risks, moratoriums or embargoes). This means, e.g. that payments to which the UCITS is entitled may remain unpaid, or may be performed in a currency that is no longer trans- ferable on account of currency restrictions. Investments in unlisted securities, in particular, entail the risk of the settlement being executed by a transfer system in a manner contrary to expectations on account of a payment or delivery being delayed or performed in a manner other than that which had been agreed. For the UCITS, assets may also be acquired that are not licensed on a stock exchange or included in another organised market. The acquisition of such assets entails the risk that problems may arise in particular when reselling the assets to third parties. In the case of stocks of smaller companies (small caps), there is a risk of the market not being liquid during certain phases. A possible consequence of this may be that the stock cannot be traded at the desired time and/or not in the de- sired quantity and/or not at the expected price. Taking account of the investment principles and investment limits stipulated by the UCITSG and the Trust Agreement, which specify a very broad scope for the UCITS, the actual investment policy may also aim to acquire predominantly specific types of assets, e.g. in only a small number of sectors, markets or regions/countries. This concentration on a small number of specific investment sectors may generate special opportunities, although these will also be offset by corresponding risks (e.g. market constraints, high fluctuation bands within specific economic cycles). The annual report provides retrospective information about the investment policy for the past financial year. Further risks may be caused by the fact that the investments are concentrated in specific assets or markets. In this case the UCITS may be particularly heavily dependent upon the performance of these assets or markets. This is a general risk associated with all investments, consisting of the fact that the value of a specific investment may change in a manner contrary to the interests of the UCITS. Sentiment, opinions and rumour can trigger significant price falls, even though the profitability and the prospects of the companies in which investments have been made need not necessarily have undergone any lasting changes. Equities are particularly susceptible to psychological market risk. This is the loss risk of the UCITS resulting from the fact that a concluded transaction cannot be fulfilled as expected be- cause a counterparty has failed to pay or to deliver, or because losses can arise due to errors at the operational level within the framework of the settlement of a transaction. The buying, holding or sale of UCITS investments may be subject to statutory fiscal regulations (e.g. deduction of with- holding tax) outside the country of domicile of the UCITS. Furthermore, the legal and tax treatment of the UCITS may change in an unforeseen and uncontrollable manner. A change in incorrectly ascertained UCITS taxation principles for past financial years (e.g. on the basis of external tax audits) may, in the case of an essentially disadvantageous tax cor- rection for the investor, mean that the investor is required to bear the tax burden for past financial years arising out of the correction, even though he might not have even been invested in the UCITS at this time. On the other hand, it may be the case that the investor, in the event of an essentially beneficial tax correction for the current and for past financial years in which he had an interest in the UCITS, may no longer be able to benefit from the tax correction arising out of the redemption or alienation of the units before the implementation of the corresponding correction. In addition, a correction of tax data may mean that taxable earnings or taxable benefits may be assessed in an assessment period other than that in which they were actually attributed, which could have a negative impact on the individual investor. Investments in equities represent a direct participation in the economic success or failure of a company. In extreme cir- cumstances \u2013 e.g. bankruptcy \u2013 this may mean the complete loss of the value of the corresponding investment. If the UCITS holds assets that are denominated in a foreign currency or foreign currencies, these will be exposed to a direct currency risk (insofar as foreign currency positions have not been hedged). Falling exchange rates reduce the value of foreign currency assets. On the other hand, the currency market also offers opportunities for profits. In addition to direct currency risks, there are also indirect currency risks. Internationally-active companies are dependent, to a greater or lesser extent, on exchange rate developments. This can also have an indirect impact on the performance of investments. A change of the investment policy within the statutory and contractually permitted investment spectrum could change the content of the risk associated with the UCITS. The Management Company may change the investment policy of the UCITS within the applicable Trust Agreement by changing the Prospectus and the Trust Agreement including Appendix A at any time and to a significant extent. In the Trust Agreement the Management Company reserves the right to amend the trust conditions at any time. Further- more, pursuant to the Trust Agreement it may comprehensively dissolve the UCITS or merge it with another UCITS. This consequently means that for investors there is a risk that the holding period they had planned cannot be realised. It is essentially the case that investors may demand from the Management Company the redemption of their units in ac- cordance with the valuation interval of the UCITS. The Management Company may however temporarily suspend the redemption of the units in the event of exceptional circumstances, and may then redeem the units only at a later date and in accordance with the then valid price (also see in detail \"Suspension of the calculation of the net asset value and the issue, the redemption and the conversion of units\"). This price may be lower than that prior to the suspension of the re- demption. UCITSs whose investment result is very positive during a specific period also owe this success to the suitability of the acting persons and consequently the correct decisions of their management. The composition of the personnel of the fund management may however change. It is possible that new decision-makers may not act so successfully. Insofar as the UCITS invests in interest-bearing securities, it will be exposed to interest rate change risks. If the market interest rate rises, the market value of the interest-bearing securities can fall substantially. This applies in particular to the extent that the assets also include interest-bearing securities with longer residual maturities and low nominal interest re- turns.", "hash": "bdb61c20244aeace5f393e9502e04e60", "id": 8}, {"samples": [{"hash": "f2AD32LMkTt", "uri": "/contracts/f2AD32LMkTt#collateral-management", "label": "Loan and Security Agreement (Siebert Financial Corp)", "score": 35.6338119507, "published": true}], "snippet_links": [{"key": "continuance-of-an-event-of-default", "type": "clause", "offset": [29, 63]}, {"key": "borrower-shall", "type": "clause", "offset": [65, 79]}, {"key": "to-receive", "type": "definition", "offset": [97, 107]}, {"key": "provided-that", "type": "clause", "offset": [156, 169]}, {"key": "distributions-received", "type": "definition", "offset": [197, 219]}, {"key": "a-separate", "type": "definition", "offset": [245, 255]}, {"key": "deposit-account", "type": "clause", "offset": [256, 271]}, {"key": "at-bank", "type": "clause", "offset": [283, 290]}, {"key": "other-funds", "type": "clause", "offset": [305, 316]}, {"key": "the-distribution-account", "type": "definition", "offset": [386, 410]}, {"key": "the-funds", "type": "clause", "offset": [423, 432]}, {"key": "ordinary-course", "type": "definition", "offset": [448, 463]}, {"key": "date-hereof", "type": "clause", "offset": [500, 511]}, {"key": "to-exercise", "type": "clause", "offset": [535, 546]}, {"key": "voting-rights", "type": "definition", "offset": [551, 564]}, {"key": "with-respect-to", "type": "clause", "offset": [565, 580]}, {"key": "interests-in-borrower", "type": "clause", "offset": [592, 613]}, {"key": "no-vote", "type": "clause", "offset": [711, 718]}, {"key": "action-taken", "type": "clause", "offset": [777, 789]}, {"key": "agreement-or", "type": "definition", "offset": [848, 860]}, {"key": "following-the", "type": "definition", "offset": [934, 947]}, {"key": "all-of-borrower", "type": "definition", "offset": [1053, 1068]}, {"key": "without-bank", "type": "definition", "offset": [1145, 1157]}, {"key": "further-action", "type": "clause", "offset": [1177, 1191]}, {"key": "any-notice", "type": "clause", "offset": [1209, 1219]}, {"key": "any-other-person", "type": "definition", "offset": [1260, 1276]}, {"key": "the-obligations", "type": "clause", "offset": [1355, 1370]}, {"key": "in-accordance-with", "type": "clause", "offset": [1371, 1389]}, {"key": "section-63", "type": "clause", "offset": [1494, 1505]}, {"key": "notice-to-the-bank", "type": "clause", "offset": [1543, 1561]}, {"key": "upon-the-occurrence-and-during", "type": "clause", "offset": [1624, 1654]}, {"key": "borrower-hereby", "type": "definition", "offset": [1695, 1710]}, {"key": "designated-officers", "type": "clause", "offset": [1756, 1775]}, {"key": "true-and-lawful-attorney", "type": "clause", "offset": [1805, 1829]}, {"key": "the-subsidiaries", "type": "clause", "offset": [1895, 1911]}, {"key": "applicable-law", "type": "clause", "offset": [1939, 1953]}, {"key": "the-foregoing", "type": "definition", "offset": [1983, 1996]}, {"key": "appointment-of-bank", "type": "clause", "offset": [1997, 2016]}, {"key": "rights-and-powers", "type": "clause", "offset": [2082, 2099]}, {"key": "in-this-clause", "type": "clause", "offset": [2100, 2114]}, {"key": "coupled-with-an-interest", "type": "clause", "offset": [2126, 2150]}, {"key": "obligation-to", "type": "clause", "offset": [2245, 2258]}, {"key": "loans-hereunder", "type": "clause", "offset": [2269, 2284]}], "size": 3, "snippet": "(a) Until the occurrence and continuance of an Event of Default, Borrower shall:\n(i) be entitled to receive and retain Distributions from its Subsidiaries, provided that Borrower shall deposit all Distributions received from its Subsidiaries in a separate deposit account maintained at Bank into which no other funds shall be deposited (the \u201cDistribution Account\u201d);\n(ii) have access to the Distribution Account and may use the funds therein in the ordinary course of its business as conducted on the date hereof; and\n(iii) be entitled to exercise any voting rights with respect to the Equity Interests in Borrower\u2019s Subsidiaries and to give consents, waivers and ratifications in respect thereof, provided that no vote shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Agreement or which would constitute or create any violation of any of such terms.\n(b) Following the occurrence and during the continuance of an Event of \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 acknowledges and agrees that:\n(i) all of Borrower\u2019s rights under Section 4.3(b) shall immediately and automatically terminate without Bank\u2019s need to take any further action or give Borrower any notice; and\n(ii) Bank may block Borrower\u2019s and any other Person\u2019s access to the Distribution Account, and Bank may apply the funds therein to the Obligations in accordance with this Agreement; provided that Borrower shall not be restricted from paying its taxes in accordance with Section 6.3 so long as it provides prior written notice to the Bank describing such taxes required to be paid.\n(c) Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank\u2019s designated officers, or employees) as Borrower\u2019s true and lawful attorney to direct Borrower\u2019s Subsidiaries to make any Distributions that the Subsidiaries are entitled to make under applicable Law to the Distribution Account. The foregoing appointment of Bank as \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2019s attorney in fact, and each and every one of Bank\u2019s rights and powers in this clause (d), being coupled with an interest, are irrevocable until all of the Obligations have been fully repaid and performed and Bank\u2019s obligation to make Term Loans hereunder is terminated.", "hash": "400b87b9e206422302ba7426f9841a0c", "id": 9}, {"samples": [{"hash": "hCrSyOSqo98", "uri": "/contracts/hCrSyOSqo98#collateral-management", "label": "Collateral Administration Agreement (MSP Recovery, Inc.)", "score": 34.5660514832, "published": true}], "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [3, 20]}, {"key": "expected-proceeds", "type": "definition", "offset": [69, 86]}, {"key": "the-claims", "type": "clause", "offset": [90, 100]}, {"key": "expected-return", "type": "definition", "offset": [158, 173]}, {"key": "the-majority", "type": "clause", "offset": [224, 236]}, {"key": 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"offset": [6340, 6357]}, {"key": "the-company-has", "type": "definition", "offset": [6359, 6374]}, {"key": "entered-into", "type": "clause", "offset": [6375, 6387]}, {"key": "lead-counsel", "type": "definition", "offset": [6424, 6436]}, {"key": "company-in", "type": "clause", "offset": [6530, 6540]}, {"key": "legal-committee", "type": "definition", "offset": [6607, 6622]}, {"key": "comprised-of", "type": "definition", "offset": [6624, 6636]}, {"key": "limitation-of-the", "type": "clause", "offset": [6853, 6870]}, {"key": "legal-services-agreement", "type": "definition", "offset": [6871, 6895]}, {"key": "the-litigation", "type": "definition", "offset": [6969, 6983]}, {"key": "material-filings", "type": "clause", "offset": [7055, 7071]}, {"key": "material-decisions", "type": "definition", "offset": [7082, 7100]}, {"key": "related-to", "type": "clause", "offset": [7101, 7111]}, {"key": "decision-making", "type": "definition", "offset": [7169, 7184]}, {"key": "as-agreed", "type": "clause", "offset": [7274, 7283]}, {"key": "with-respect-to-the-company", "type": "clause", "offset": [7349, 7376]}, {"key": "settlement-discussions", "type": "clause", "offset": [7523, 7545]}, {"key": "subject-to-the", "type": "definition", "offset": [7742, 7756]}, {"key": "replaced-with", "type": "clause", "offset": [7808, 7821]}, {"key": "the-parties-shall", "type": "clause", "offset": [7901, 7918]}, {"key": "consent-of-the", "type": "clause", "offset": [7949, 7963]}, {"key": "costs-of", "type": "definition", "offset": [8029, 8037]}, {"key": "contingency-fees", "type": "clause", "offset": [8066, 8082]}, {"key": "available-funds", "type": "clause", "offset": [8213, 8228]}], "size": 2, "snippet": "1) The Company shall be operated with the sole aim of maximizing the expected proceeds of the Claims, after taking into account costs (including a reasonable expected return on such costs given recovery risks) and achieving the majority of recoveries within three (3) years of the date hereof or as otherwise extended, and, except as otherwise agreed by the Operating Committee, shall ensure that the proceeds of the Credit Facilities are used for such purposes or otherwise in compliance with the terms of the New Money Loan Agreement and the HHI Loan Agreement.\n2) The following administration and management structure and rights in respect of the Company shall be effective for the period beginning on the date hereof until the date on which the \"Obligations\" (as defined in the New Money Loan Agreement and the HHI Loan Agreement, as applicable) under the Credit Facilities (other than un-asserted contingent obligations) are paid in full by MSP, the Company and/or their Affiliates under each of the New Money Loan Agreement and HHI Loan Agreement (such date being referred to as the \u201cCredit Facilities Payoff\u201d).\na) The Company shall be governed by the manager pursuant to, and in accordance with, the terms of the Operating Agreement, which manager shall be directed by a three (3) person operating committee (the \u201cOperating Committee\u201d). H\u2587\u2587\u2587\u2587 shall have the right to appoint one (1) representative to the Operating Committee. MSP shall have the right to appoint one (1) representative to the Operating Committee. The third representative of the Operating Committee shall be an Independent Representative appointed jointly by H\u2587\u2587\u2587\u2587 and MSP. The parties have agreed that the initial Independent Representative shall be the candidate set out in Schedule C, subject to negotiation of economic terms with the Independent Representative that are acceptable to H\u2587\u2587\u2587\u2587 (it being understood and agreed that any such fees and expenses of the Independent Representative shall be for the account of H\u2587\u2587\u2587\u2587). Solely upon the occurrence of an Event of Default as set forth in Sections 9.1(a), 9.1(b), 9.1(g), 9.1(h) and 9.1(l) of the New Money Loan Agreement or Sections 9.1(a), 9.1(b), 9.1(g), 9.1(h) and 9.1(l) of HHI Loan Agreement, the Company shall effect the Specified Governance.\nb) Each of MSP, H\u2587\u2587\u2587\u2587 and the Company shall cause each individual designated pursuant to Section 2(a) to be nominated to serve as a representative on the Operating Committee, and to take all other necessary actions to ensure that the composition of the Operating Committee is as set forth in Section 2(a).\nc) Notwithstanding the terms of any other limited liability company agreement or other similar governance agreement or instrument of any Subsidiary of the Company (if any) to the contrary, the Operating Committee shall also direct the management of Claims Vehicle and each other Subsidiary (if any) of the Company, either directly or indirectly. In the case of the Claims Vehicle, the Company shall be the manager of the Claims Vehicle, and the Operating Committee shall direct the management of the Claims Vehicle through its direction of the manager of the Company.\n3) All decisions of the Operating Committee shall require the vote or consent of a majority of the members of the Operating Committee, except for those matters set forth on Schedule A designated as requiring approval of the members of the Operating Committee appointed by each of MSP and H\u2587\u2587\u2587\u2587 pursuant to Section 2(a) above unless such matter results in a Credit Facility Payoff. Notwithstanding anything to the contrary contained in the Operating Agreement, subject to Section 2(a), for the period beginning on the date hereof until the Credit Facilities Payoff, the Operating Committee shall cause the Company to be operated in the ordinary course and in compliance with the obligations under the Credit Facilities.\n4) The Company shall, and shall cause each of its Subsidiaries to, take any and all actions reasonably necessary to ensure continued compliance by the Company and its Subsidiaries with the provisions of the Transaction Documents to which the Company is a party and this Agreement. The Company shall notify H\u2587\u2587\u2587\u2587 in writing promptly after becoming aware of any act or activity taken or proposed to be taken by the Company or any of its Subsidiaries which resulted or would result in non-compliance with any such Transaction Documents, including this Agreement.\n5) Until the Credit Facility Payoff, the Company shall at all times have at least one Independent Representative. To the fullest extent permitted by law, including Section 18-1101(c) of the Act, the Independent Representative shall consider only the interests of the Company, including its respective creditors, in acting or otherwise voting on Company matters. No registration or removal of an Independent Representative, and no appointment of a successor Independent Representative, shall be effective until such successor shall have accepted his or her appointment as an Independent Representative by a written instrument. In the event of a vacancy in the position of Independent Representative, a successor Independent Representative shall be appointed as soon as practicable by the joint written agreement of the remaining members of the operating Committee. All right, power and authority of the Independent Representative shall be limited to the extent necessary to exercise those rights and perform those duties specifically set forth in this Agreement. No Independent Representative shall at any time serve as trustee in bankruptcy for the Company or any Affiliate of the Company.\n6) Each representative on the Operating Committee elected, designated or appointed shall hold office until a successor is elected and qualified pursuant to this Agreement or until such representative\u2019s earlier death, resignation, expulsion or removal. The Operating Committee shall establish such procedures necessary to replace any vacancies on the Operating Committee; provided that no such procedures alter the criteria for the Independent Representative.\n7) In furtherance and by way of limiting the rights of H\u2587\u2587\u2587\u2587 in Section 2 above, the Parties agree as follows in respect to certain engagements of law firm and recovery service providers for the Company and in respect of the Claims:\na) As set out in the Legal Service Agreement, the Company has entered into arrangements by which M\u2587\u2587\u2587\u2587\u2587\u2587 (the \u201cLead Counsel\u201d) and the MSP Law Firm (together, the \u201cLegal Servicers\u201d) shall provide legal services to the Company in respect of the Claims.\nb) The Operating Committee shall appoint a Legal Committee, comprised of one (1) representative appointed by H\u2587\u2587\u2587\u2587, one (1) representative appointed by MSP and one (1) chairman appointed by a majority of the Operating Committee (the \u201cLegal Committee\u201d).\nc) In furtherance and not by way of limitation of the Legal Services Agreement, the Legal Servicers shall regularly consult with the Legal Committee on the litigation strategy and case progress , and the Legal Committee shall approve any material filings and other material decisions related to the legal strategy. The Operating Committee may delegate decision making on matters related to overall litigation strategy to the Legal Committee or Lead Counsel as agreed, and the Legal Committee or Lead Counsel shall give instructions with respect to the Company with respect to such delegated matters. The Operating Committee shall retain authority over all decision making related to settlement strategy or settlement discussions, and only the Operating Committee shall give instructions with respect to the Company unless otherwise delegated.\nd) The Operating Committee shall be able to replace or add other legal servicers, subject to the following limitations:\ni) MSP Law Firm can only be replaced with agreement of MSP;\nii) M\u2587\u2587\u2587\u2587\u2587\u2587 can only be replaced with agreement of H\u2587\u2587\u2587\u2587 and the Parties shall work together in securing any consent of the 2022 Lender as necessary in respect thereof;\niii) Any additional costs of Legal Servicers (other than contingency fees) under the Legal Services Agreement shall be funded by H\u2587\u2587\u2587\u2587 on a similar structure as provided under the New Money Loan, or from available funds thereof, as agreed by H\u2587\u2587\u2587\u2587.", "hash": "279fe4a30bc918250c700cf22dbde3d7", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5jb2xsYXRlcmFsLW1hbmFnZW1lbnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["duties-of-the-collateral-manager", "Duties of the Collateral Manager"], ["authorization-of-the-collateral-manager", "Authorization of the Collateral Manager"], ["duties", "Duties"], ["designation-of-the-collateral-manager", "Designation of the Collateral Manager"], ["subcontracts", "Subcontracts"]], "size": 91, "title": "Collateral Management", "parents": [["miscellaneous", "Miscellaneous"], ["the-agent-and-the-lenders", "The Agent and the Lenders"], ["headings", "Headings"], ["general", "General"], ["creation-of-security-interest", "Creation of Security Interest"]], "id": "collateral-management", "related": [["collateral-management-fee", "Collateral Management Fee", "<strong>Collateral Management</strong> Fee"], ["netlink-management-pte", "NETLINK MANAGEMENT PTE", "NETLINK MANAGEMENT PTE"], ["security-management", "Security Management", "Security Management"], ["general-management", "General Management", "General Management"], ["patch-management", "Patch Management", "Patch Management"]], "related_snippets": [], "updated": "2026-03-26T04:21:01+00:00"}, "json": true, "cursor": ""}}