Collateral Obligation Schedule Sample Clauses
A Collateral Obligation Schedule is a section in a contract that outlines the specific assets or securities that a party must provide as collateral to secure its obligations. This schedule typically lists the types, amounts, and conditions of the collateral, such as cash, bonds, or other financial instruments, and may specify how and when collateral must be delivered or substituted. Its core practical function is to clearly define the collateral requirements, thereby reducing uncertainty and mitigating credit risk between the parties involved.
Collateral Obligation Schedule. As of the end of each March, June, September and December of each year, the Borrower shall deliver an update of the Collateral Obligation Schedule to the Facility Agent (with a copy to the Collateral Agent and each Agent), certified true and correct by each of the Borrower and the Servicer. The Borrower hereby authorizes a UCC-3 amendment to be filed quarterly attaching each such updated Collateral Obligation Schedule and shall file such UCC-3 amendment at the request of the Facility Agent. Upon filing, a copy of such UCC-3 shall be provided to the Collateral Agent and Facility Agent.
Collateral Obligation Schedule. As of the end of each March, June, September and December of each year, the Borrower shall deliver an update of the Collateral Obligation Schedule to the Facility Agent (with a copy to the Collateral Agent), certified true and correct by each of the Borrower and the Servicer.
Collateral Obligation Schedule. The Borrower hereby authorizes a UCC-3 amendment to be filed quarterly attaching each such updated Collateral Obligation Schedule and shall file such UCC-3 amendment at the request of the Facility Agent. Upon filing, a copy of such UCC-3 shall be provided to the Collateral Agent, the Collateral Custodian and the Facility Agent.