Common use of Swiss Provisions Clause in Contracts

Swiss Provisions. In relation to any Second Lien Collateral Document governed by Swiss law (each a “Second Lien Swiss Transaction Security Document”): (a) the Second Lien Collateral Agent shall hold: (1) any security created or evidenced or expressed to be created or evidenced under or pursuant to a Second Lien Swiss Transaction Security Document by way of a security assignment (Sicherungsabtretung) or transfer for security purposes (Sicherungsübereignung) or any other non-acccessory (nicht akzessorische) security; (2) the benefit of this Section 13.13; and (3) any proceeds and other benefits of such security, as fiduciary (treuhänderisch) in its own name but for the account of all relevant Second Priority Notes Secured Parties which have the benefit of such security in accordance with the Intercreditor Agreements and the respective Second Lien Swiss Transaction Security Document; and (b) each present and future Second Priority Notes Secured Party, represented by the Second Lien Trustee acting for itself and in the name and for the account of each such Second Priority Notes Secured Party as a direct representative, hereby authorizes the Second Lien Collateral Agent: (1) to (x) accept and execute in the name and on behalf of each Second Priority Notes Secured Party as its direct representative (direkter Stellvertreter / représentant direct) any Swiss law pledge created or evidenced or expressed to be created or evidenced under or pursuant to any Second Lien Swiss Transaction Security Document for the benefit of the Second Priority Notes Secured Parties and (y) hold, administer and, if necessary, enforce any such security in the name and on behalf of each relevant Second Priority Notes Secured Party which has the benefit of such security; (2) to agree as its direct representative (direkter Stellvertreter / représentant direct) to any amendments and alterations to any Second Lien Swiss Transaction Security Document in accordance with Article IX of this Indenture; (3) to effect as its direct representative (direkter Stellvertreter / représentant direct) any release of a security created or evidenced or expressed to be created or evidenced under any Second Lien Swiss Transaction Security Document in accordance with the Intercreditor Agreements; and (4) to exercise as its direct representative (direkter Stellvertreter / représentant direct) such other rights granted hereunder, under the Intercreditor Agreements or under any relevant Second Lien Swiss Transaction Security Document.

Swiss Provisions. In relation to any Second First Lien Collateral Document governed by Swiss law (each a “Second First Lien Swiss Transaction Security Document”): (a) the Second First Lien Collateral Agent shall hold: (1) any security created or evidenced or expressed to be created or evidenced under or pursuant to a Second First Lien Swiss Transaction Security Document by way of a security assignment (Sicherungsabtretung) or transfer for security purposes (Sicherungsübereignung) or any other non-acccessory (nicht akzessorische) security; (2) the benefit of this Section 13.13; and (3) any proceeds and other benefits of such security, as fiduciary (treuhänderisch) in its own name but for the account of all relevant Second First Priority Notes Secured Parties which have the benefit of such security in accordance with the Intercreditor Agreements and the respective Second First Lien Swiss Transaction Security Document; and (b) each present and future Second First Priority Notes Secured Party, represented by the Second First Lien Trustee acting for itself and in the name and for the account of each such Second First Priority Notes Secured Party as a direct representative, hereby authorizes the Second First Lien Collateral Agent: (1) to (x) accept and execute in the name and on behalf of each Second First Priority Notes Secured Party as its direct representative (direkter Stellvertreter / représentant direct) any Swiss law pledge created or evidenced or expressed to be created or evidenced under or pursuant to any Second First Lien Swiss Transaction Security Document for the benefit of the Second First Priority Notes Secured Parties and (y) hold, administer and, if necessary, enforce any such security in the name and on behalf of each relevant Second First Priority Notes Secured Party which has the benefit of such security; (2) to agree as its direct representative (direkter Stellvertreter / représentant direct) to any amendments and alterations to any Second First Lien Swiss Transaction Security Document in accordance with Article IX of this Indenture; (3) to effect as its direct representative (direkter Stellvertreter / représentant direct) any release of a security created or evidenced or expressed to be created or evidenced under any Second First Lien Swiss Transaction Security Document in accordance with the Intercreditor Agreements; and (4) to exercise as its direct representative (direkter Stellvertreter / représentant direct) such other rights granted hereunder, under the Intercreditor Agreements or under any relevant Second First Lien Swiss Transaction Security Document.

Swiss Provisions. In relation to any Second Lien Collateral Document governed by Swiss law (each a “Second Lien Swiss Transaction Security Document”): (a) the Second Lien Collateral Agent shall hold: (1) any security created or evidenced or expressed to be created or evidenced under or pursuant to a Second Lien Swiss Transaction Security Document by way of a security assignment (SicherungsabtretungSicherungszession / cession à titre de sûreté) or transfer for security purposes (Sicherungsübereignung) or any other non-acccessory (nicht akzessorische) securitySicherungsübereignung / transfert à titre de sûreté); (2) the benefit of this Section 13.13; and (3) any proceeds and other benefits of such security, as fiduciary (treuhänderischtreuhänderisch / à titre fiduciaire) in its own name but for the account of all relevant Second Priority Notes Secured Parties which have the benefit of such security in accordance with the First Priority/Second Priority Intercreditor Agreements Agreement and the respective Second Lien Swiss Transaction Security Document; and (b) each present and future Second Priority Notes Secured Party, represented by the Second Lien Trustee acting for itself and in the name and for the account of each such Second Priority Notes Secured Party as a direct representative, hereby authorizes the Second Lien Collateral Agent: (1) to (x) accept and execute in the name and on behalf of each Second Priority Notes Secured Party as its direct representative (direkter Stellvertreter / représentant direct) any Swiss law pledge created or evidenced or expressed to be created or evidenced under or pursuant to any Second Lien Swiss Transaction Security Document for the benefit of the Second Priority Notes Secured Parties and (y) hold, administer and, if necessary, enforce any such security in the name and on behalf of each relevant Second Priority Notes Secured Party which has the benefit of such security; (2) to agree as its direct representative (direkter Stellvertreter / représentant direct) to any amendments and alterations to any Second Lien Swiss Transaction Security Document in accordance with Article IX of this Indenture; (3) to effect as its direct representative (direkter Stellvertreter / représentant direct) any release of a security created or evidenced or expressed to be created or evidenced under any Second Lien Swiss Transaction Security Document in accordance with the First Priority/Second Priority Intercreditor AgreementsAgreement; and (4) and to exercise as its direct representative (direkter Stellvertreter / représentant direct) such other rights granted hereunder, under the Intercreditor Agreements or under any relevant Second Lien Swiss Transaction Security Document.