Senior Collateral Agent Sample Clauses
The Senior Collateral Agent clause designates a specific party responsible for holding and managing collateral on behalf of senior lenders in a financing arrangement. This agent acts as the intermediary between the borrowers and the senior lenders, ensuring that the collateral is properly maintained, released, or enforced according to the terms of the agreement. By centralizing the management of collateral, this clause streamlines communication and enforcement actions, reducing the risk of conflicting claims and ensuring that senior lenders' interests are protected in the event of borrower default.
Senior Collateral Agent. It is understood and agreed that the Senior Collateral Agent is entering into this Agreement in (a) its capacities as Administrative Agent and Collateral Agent under the Credit Agreement and the provisions of Article VIII of the Credit Agreement applicable to it as administrative agent and collateral agent thereunder shall also apply to it as Senior Collateral Agent hereunder and (b) its capacity as Collateral Agent under the First Lien Intercreditor Agreement (if applicable), and the provisions of Article IV of the First Lien Intercreditor Agreement applicable to it as collateral agent thereunder shall also apply to it as Senior Collateral Agent hereunder.
Senior Collateral Agent. The Senior Collateral Agent’s actions pursuant hereto are solely in its capacity as Senior Collateral Agent under the Senior Loan Documents, and are subject to the provisions of Article V and VII of the Senior Security Agreement and Article 8 and Section 9.16
Senior Collateral Agent. The Senior Collateral Agent, on behalf of the Senior Secured Parties, at the direction of the Senior Secured Parties hereby acknowledges that (a) it has received and reviewed and, subject to the terms and conditions of this Agreement, hereby consents to and approves of the issuance of the Subordinated Note and the granting of Liens contemplated by the Subordinated Note Documents and, subject to the terms and provisions of this Agreement, all of the terms and provisions of the Subordinated Note Documents; (b) the execution, delivery and performance of the Subordinated Note Documents will not constitute a default or an event which, with the giving of notice or the lapse of time, or both, would constitute a default under the Senior Secured Debt Documents; and (c) any conditions precedent to the Senior Collateral Agent’s consent to the Subordinated Note as set forth in the Senior Secured Debt Documents or any other agreements with the Debtors, as they apply to any Subordinated Note Documents or the issuance of the Subordinated Note, have been either satisfied or waived.
Senior Collateral Agent. It is understood and agreed that (a) the Senior Collateral Agent is entering into this Agreement in (i) its capacities as Administrative Agent under the Credit Agreement and the provisions of Article VIII of the Credit Agreement applicable to it as administrative agent thereunder shall also apply to it as Senior Collateral Agent hereunder and (ii) its capacity as collateral agent under the Pari Passu Intercreditor Agreement (if applicable), and the provisions of Article IV of the Pari Passu Intercreditor Agreement applicable to it as collateral agent thereunder shall also apply to it as Senior Collateral Agent hereunder and (b) the Initial Second Priority Representative is entering into this Agreement in its capacity as Representative for the Initial Second Priority Debt Parties and the provisions of Article VIII of the Initial Second Priority Credit Agreement applicable to it as administrative agent thereunder shall also apply to it as Representative for the Initial Second Priority Debt Parties hereunder.
Senior Collateral Agent. The Senior Collateral Agent’s actions pursuant hereto are solely in its capacity as Senior Collateral Agent under the Senior Loan Documents, and are subject to the provisions of Article V and VII of the Senior Security Agreement and Article 8 and Section 9.16 of the Senior Loan Agreement. The Senior Collateral Agent shall have no obligations with respect to any Junior Secured Party or Junior Lien other than to distribute funds in accordance with Section 2(b). The Senior Collateral Agent shall have no obligations under this Agreement with respect to any Intercompany Lender other than as provided in the Senior Loan Documents and other than to distribute funds as provided therein. In no event will the Senior Collateral Agent or any Senior Secured Party be liable whatsoever for any act or omission on the part of Grandparent Holdco, any Junior Secured Party hereunder or any Intercompany Lender.
Senior Collateral Agent. The Senior Collateral Agent’s actions pursuant hereto are solely in its capacity as Collateral Agent under the Senior Loan Documents, and are subject to the provisions of Article V and VII of the Senior Security Agreement and Article 8 and Section 9.16 of the Senior Loan Agreement. The Senior Collateral Agent shall have no obligations with respect to any Junior Secured Party or Junior Lien, other than to distribute funds in accordance with Section 2(b). In no event will the Senior Collateral Agent or any Senior Secured Party be liable whatsoever for any act or omission on the part of the Company or any Junior Secured Party hereunder.
Senior Collateral Agent. Section 6.01 Concerning the Senior Collateral Agent Section 6.02 Appointment of Co-Collateral Agent