Pledgee as Agent Sample Clauses
Pledgee as Agent. (a) Pledgee has been appointed to act as Pledgee hereunder by the Secured Parties and, by countersigning Swap Counterparty Consents, the Swap Counterparties. Pledgee shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including without limitation the release or substitution of Collateral), solely in accordance with this Agreement.
(b) Pledgee shall at all times be the same Person that is administrative agent under the Credit Agreement. Written notice of resignation by the administrative agent pursuant to subsection 9.06 of the Credit Agreement shall also constitute notice of resignation as Pledgee under this Agreement; and appointment of a successor administrative agent pursuant to subsection 9.06 of the Credit Agreement shall also constitute appointment of a successor Pledgee under this Agreement. Upon the acceptance of any appointment as administrative agent under subsection 9.06 of the Credit Agreement by a successor administrative agent, that successor administrative agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Pledgee under this Agreement, and the retiring Pledgee under this Agreement shall promptly (i) transfer to such successor Pledgee all sums, securities and other items of Collateral held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Pledgee under this Agreement, and (ii) execute and deliver to such successor Pledgee such amendments to financing statements, and take such other actions, as may be necessary or appropriate in connection with the assignment to such successor Pledgee of the security interests created hereunder, whereupon such retiring Pledgee shall be discharged from all of its duties and obligations under this Agreement. After any retiring Pledgee’s resignation hereunder, the successor Pledgee hereunder shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Pledgee.
(c) Pledgee shall not be deemed to have any duty whatsoever with respect to any Swap Counterparty until it shall have received written notice in form and substance satisfactory to Pledgee from Pledgor or the Swap Counterparty as to the existence and terms of the applicable Secured Lender Swap Contract.
(d) All of the t...
Pledgee as Agent. Pledgors acknowledge that Agent has been requested to act hereunder as agent for any financial institutions which are or become Banks pursuant to the terms of the Credit Agreement, and that Agent, to the extent it may so act hereunder, shall exercise all of the rights and remedies hereunder on behalf of, and as agent for the benefit of, any such Banks, and each of them. The rights, powers, and obligations of Agent are more particularly described in the Credit Agreement and are hereby incorporated herein by reference and made a part hereof as if fully set forth herein.
Pledgee as Agent. The Pledgee will hold in accordance with this all items of the Collateral at any time received under this Agreement. It is expressly understood and agreed that the obligations of the Pledgee as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement.