Rights of the Administrative Agent. Notwithstanding anything to the contrary in this Agreement, the Administrative Agent and/or the Custodian shall have the right to reject or return any Security transferred to any Collateral Account to the extent that it has determined, with the advice of its counsel (which may be in-house counsel), that acceptance of such Security as Collateral or otherwise would violate or conflict with any law, treaty, rule or regulation or determination of any Governmental Authority or other Requirements of Law binding upon the Administrative Agent or the Custodian.
Appears in 3 contracts
Samples: Pledge and Security Agreement (Allied World Assurance Co Holdings, AG), Pledge and Security Agreement (Allied World Assurance Co Holdings, AG), Pledge and Security Agreement (Allied World Assurance Co Holdings LTD)
