Rights under Hedging Agreements. No Hedging Agreement will create (or be deemed to create) in favor of any Secured Bank Product Provider that is a party thereto any rights in connection with the management or release of any Collateral or of the obligations of any Guarantor under the Loan Documents except as expressly provided in Section 15.1.1(e) of this Agreement. By accepting the benefits of the Collateral, such Secured Bank Product Provider shall be deemed to have appointed Administrative Agent as its agent and agreed to be bound by the Loan Documents as a Secured Party, subject to the limitations set forth in this Section 13.7.3.
Appears in 4 contracts
Samples: Term Loan and Security Agreement (DXP Enterprises Inc), Term Loan and Security Agreement (DXP Enterprises Inc), Term Loan and Security Agreement (DXP Enterprises Inc)
Rights under Hedging Agreements. No Hedging Agreement will create (or be deemed to create) in favor of any Secured Bank Product Provider that is a party thereto any rights in connection with the management or release of any Collateral or of the obligations of any Guarantor under the Loan Documents except as expressly provided in Section 15.1.1(e) of this Agreement. By accepting the benefits of the Collateral, such Secured Bank Product Provider shall be deemed to have appointed Administrative Agent as its agent and agreed to be bound by the Loan Documents as a Secured Party, subject to the limitations set forth in this Section 13.7.3.. 121
Appears in 1 contract
Samples: Term Loan and Security Agreement (DXP Enterprises Inc)
