Common use of Concerning Collateral Agent Clause in Contracts

Concerning Collateral Agent. Collateral Agent shall act in accordance with the terms of the Purchase Agreement. The Collateral Agent may exercise or refrain from exercising any rights (including making demands and giving notices) and take or refrain from taking any action, in accordance with this Agreement and the Purchase Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by the Purchasers in consultation with Company. On the acceptance of appointment as the successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 4 contracts

Samples: Security Agreement (Medite Cancer Diagnostics, Inc.), Security Agreement (Medite Cancer Diagnostics, Inc.), Security Agreement (Medite Cancer Diagnostics, Inc.)

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Concerning Collateral Agent. Collateral Agent shall act in accordance with the terms of the Purchase Agreement. The Collateral Agent may exercise or refrain from exercising any rights (including making demands and giving notices) and take or refrain from taking any action, in accordance with this Agreement and the Purchase Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by the Purchasers in consultation with CompanyPurchaser. On the acceptance of appointment as the successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's ’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 3 contracts

Samples: Security Agreement, Security Agreement (Emmaus Life Sciences, Inc.), Security Agreement (Health-Right Discoveries, Inc.)

Concerning Collateral Agent. Collateral Agent has been appointed as Collateral Agent pursuant to Article IX of the Credit Agreement. The actions of Collateral Agent hereunder are subject to the provisions of the Credit Agreement. Collateral Agent shall act in accordance with have the terms of the Purchase Agreement. The Collateral Agent may right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights (including making demands rights, and giving notices) and to take or refrain from taking any actionaction (including the release or substitution of the Security Agreement Collateral), in accordance with this Agreement and the Purchase Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faithherewith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by in the Purchasers manner provided in consultation with Companythe Credit Agreement. On Upon the acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's ’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (Herbalife Ltd.), Credit Agreement (Herbalife Ltd.)

Concerning Collateral Agent. The Collateral Agent shall act in accordance with has been appointed as collateral agent pursuant to the terms Credit Agreement. The actions of the Purchase Collateral Agent hereunder are subject to the provisions of the Credit Agreement. The Collateral Agent may shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights (including making demands rights, and giving notices) and to take or refrain from taking any actionaction (including the release or substitution of the Pledged Collateral), in accordance with this Agreement and the Purchase Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by in the Purchasers manner provided in consultation with Companythe Credit Agreement. On Upon the acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (Ionics Inc), Credit Agreement (SFBC International Inc)

Concerning Collateral Agent. The Collateral Agent shall act in accordance with has been appointed as administrative agent and collateral agent pursuant to the terms Credit Agreement. The actions of the Purchase Collateral Agent hereunder are subject to the provisions of the Credit Agreement. The Collateral Agent may shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights (including making demands rights, and giving notices) and to take or refrain from taking any actionaction (including the release or substitution of the Pledged Collateral), in accordance with this Agreement and the Purchase Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faithwith reasonable care. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by in the Purchasers manner provided in consultation with Companythe Credit Agreement. On Upon the acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's ’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 2 contracts

Samples: Revolving Credit and Guaranty Agreement (Philadelphia Energy Solutions Inc.), Revolving Credit and Guaranty Agreement (Philadelphia Energy Solutions Inc.)

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Concerning Collateral Agent. (a) Collateral Agent has been appointed as Collateral Agent pursuant to Article VIII of the Credit Agreement. The actions of Collateral Agent hereunder are subject to the provisions of the Credit Agreement. Collateral Agent shall act in accordance with have the terms of the Purchase Agreement. The Collateral Agent may right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights (including making demands rights, and giving notices) and to take or refrain from taking any actionaction (including the release or substitution of the Security Agreement Collateral), in accordance with this Agreement and the Purchase Credit Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faithherewith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by in the Purchasers manner provided in consultation with Companythe Credit Agreement. On Upon the acceptance of any appointment as the Collateral Agent by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's ’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 1 contract

Samples: Credit Agreement (Herbalife Nutrition Ltd.)

Concerning Collateral Agent. Collateral Agent shall act in accordance with the terms of the Purchase Agreement. The Collateral Agent may exercise or refrain from exercising any rights (including making demands and giving notices) and take or refrain from taking any action, in accordance with this Agreement and the Purchase Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by the Purchasers Purchaser in consultation with Company. On the acceptance of appointment as the successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Medite Cancer Diagnostics, Inc.)

Concerning Collateral Agent. Collateral Agent shall act in accordance with the terms of this Agreement and the Purchase Agreementother Security Documents and Transaction Documents. The Collateral Agent may exercise or refrain from exercising any rights (including making demands and giving notices) and take or refrain from taking any action, in accordance with this Agreement and the Purchase Agreementother Security Documents and Transaction Documents. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith. The Collateral Agent may resign with 10 days’ written notice to Company and a successor Collateral Agent may be appointed by the Purchasers in consultation with CompanyPurchaser. On the acceptance of appointment as the successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement, and the retiring Collateral Agent shall thereupon be discharged from its duties and obligations under this Agreement. After any retiring Collateral Agent's ’s resignation, the provisions hereof shall inure to its benefit as to any actions taken or omitted to be taken by it under this Agreement while it was the Collateral Agent.

Appears in 1 contract

Samples: Security Agreement (Health-Right Discoveries, Inc.)

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