Secured Party as Agent. (a) Secured Party has been appointed to act as Secured Party hereunder by Lenders and, by their acceptance of the benefits hereof, Swap Counterparties. Secured Party 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 and the Credit Agreement; provided that Secured Party shall exercise, or refrain from exercising, any remedies provided for in Section 15 hereof in accordance with the instructions of Requisite Obligees. In furtherance of the foregoing provisions of this Section 20(a), each Swap Counterparty, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the Collateral hereunder, it being understood and agreed by such Swap Counterparty that all rights and remedies hereunder may be exercised solely by Secured Party for the benefit of Lenders and Swap Counterparties in accordance with the terms of this Section 20(a).
(b) Secured Party shall at all times be the same Person that is Administrative Agent under the Credit Agreement. Written notice of resignation by Administrative Agent pursuant to subsection 9.5 of the Credit Agreement shall also constitute notice of resignation as Secured Party under this Agreement; and appointment of a successor Administrative Agent pursuant to subsection 9.5 of the Credit Agreement shall also constitute appointment of a successor Secured Party under this Agreement. Upon the acceptance of any appointment as Administrative Agent under subsection 9.5 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 Secured Party under this Agreement, and the retiring Secured Party under this Agreement shall promptly (i) transfer to such successor Secured Party 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 Secured Party under this Agreement, and (ii) execute (if necessary) and deliver to such successor Secured Party such amendments to financing statements, and take such other actions, as may be necessary or appropriate in con...
Secured Party as Agent. Secured Party has been appointed to act as Secured Party hereunder by Lenders. Secured Party 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 and the Credit Agreement.
Secured Party as Agent. Each reference herein to any right granted to, benefit conferred upon, or power exercisable, exercised, or action taken by, the Secured Party shall be deemed to be a reference to the right granted to, benefit conferred upon, and power exercisable, exercised, and action taken by, the Secured Party in its capacity as agent for the benefit of the Beneficiaries all as more fully set forth in the Credit Agreement.
Secured Party as Agent. (a) Secured Party has been appointed to act as Secured Party hereunder by the Holders, subject to the Collateral Agency Agreement, the Exchange Agreement and the Intercreditor Agreement. The actions of the Secured Party hereunder are subject to the provisions of the Collateral Agency Agreement, the Exchange Agreement and the Intercreditor Agreement. Secured Party shall make demands, give notices, 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, the Collateral Agency Agreement and the Exchange Agreement and subject to the Intercreditor Agreement.
(b) The Secured Party shall be entitled to all the same rights, privileges, protections, immunities and indemnities in this Agreement as are contained in the Collateral Agency Agreement, the Intercreditor Agreement and the other Notes Documents for the benefit of the Secured Party, all of which are incorporated herein mutatis mutandis, in addition to any such rights, privileges, protections, immunities and indemnities contained herein. In the administration of this Agreement and performance of its powers hereunder, the Secured Party shall not be required to act hereunder unless it shall have received appropriate direction from the applicable Holders of Notes, as provided in the Collateral Agency Agreement, the Intercreditor Agreement and the other Notes Documents.
Secured Party as Agent. In acting under or by virtue of this Agreement, the Secured Party, acting as administrative agent, shall be entitled to all the rights, authority, privileges and immunities provided in the Credit Agreement, all of which provisions of said Credit Agreement (including Article 9 thereof) are incorporated by reference herein with the same force and effect as if set forth herein in their entirety. The Secured Party disclaims any representation or warranty to the Lenders or any other holders of the Obligations concerning the grant, maintenance or perfection of the liens and security interested granted hereunder or under any other Security Document, or in the existence or value of any of the Collateral.
Secured Party as Agent. (a) Secured Party has been appointed to act as Secured Party hereunder by Lenders. Secured Party 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) Secured Party shall have the right to resign its duties hereunder by giving Grantor and the Lenders fifteen (15) days written notice. Upon notice of any Secured Party's resignation, the Lenders shall appoint a successor to the Secured Party who shall be a commercial bank or trust company reasonably acceptable to Grantor. If no successor is appointed by the Lenders and found acceptable to Grantor by the twentieth (20th) business day after the date of such notice of resignation, the Secured Party's resignation shall become effective and the Lenders shall thereafter perform all the duties of the Secured Party hereunder until such time, if any, as the Lenders appoint a successor to the Secured Party as provided above and provided further that Lenders' collective expenses, costs and fees payable by Grantor while acting as Secured Party hereunder may not materially exceed those of the initial Secured Party.
Secured Party as Agent. Secured Party has been appointed to act as Secured Party hereunder by Lenders and, by their acceptance of the benefits of this Agreement and the other Loan Documents, by each Interest Rate Exchanger. Secured Party 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 and the Credit Agreement and upon the instructions of Requisite Lenders, and the Interest Rate Exchangers, by their acceptance of the benefits of this Agreement and the other Loan Documents, hereby agree to be bound by such instructions.
Secured Party as Agent. If this Agreement is granted to the Secured Party in its capacity as agent for one or more other Persons, the Debtor agrees that all:
(a) Encumbrances;
(b) representations, warranties, covenants and agreements; and
(c) obligations and liabilities, created, made, assumed or incurred hereunder by the Debtor in favour of the Secured Party are also created, made, assumed or incurred hereunder by the Debtor in favour of those Persons. The Debtor further agrees that each of those Persons will be entitled to the benefit of all rights and remedies of the Secured Party as if it had been named Secured Party hereunder.
Secured Party as Agent. If this Agreement is granted to the Secured Party in its capacity as agent for one or more other Persons, the Debtor agrees that all:
(a) grants, mortgages, assignments, charges and security interests;
(b) representations, warranties, covenants and agreements; and
(c) obligations and liabilities, created, made, assumed or incurred hereunder by the Debtor in favour of the Secured Party are also created, made, assumed or incurred hereunder by the Debtor in favour of the Secured Party and those Persons.
Secured Party as Agent. Secured Party has been appointed to act as Administrative Agent hereunder by the Lenders and Grantor and all other Persons shall be entitled to rely on releases, waivers, consents, approvals, notifications and other acts of Secured Party, without inquiry into the existence of required consents or approvals of the Lenders therefor.
