Term Collateral Agent Assurances Sample Clauses
The Term Collateral Agent Assurances clause establishes the obligations and commitments of the collateral agent in a financing arrangement, ensuring that the agent will act in accordance with the interests of the secured parties. Typically, this clause outlines the agent’s duties regarding the management, protection, and enforcement of collateral, and may specify standards of care or reporting requirements. Its core practical function is to provide confidence to lenders or other secured parties that the collateral will be properly handled and that their interests are safeguarded throughout the term of the agreement.
Term Collateral Agent Assurances. The Term Collateral Agent may condition its performance of any obligation set forth in this Article 4 upon its prior receipt (without cost to it) of:
Term Collateral Agent Assurances. The Term Collateral Agent may condition its performance of any obligation set forth in this Article 4 upon its prior receipt (without cost to it) of:
(a) such assurances as it may reasonably request to confirm that the performance of such obligation and all activities of the ABL Collateral Agent or its officers, employees and agents in connection therewith or incidental thereto:
(i) will be permitted, lawful and enforceable under applicable law; and
(ii) will not impose upon the Term Collateral Agent (or any Term Secured Party) any legal duty, legal liability or risk of uninsured loss; and
(b) such indemnity or insurance as the Term Collateral Agent may reasonably request in connection therewith.