The Collateral Agent and the Purchase Contract Agent Sample Clauses

This clause defines the roles and responsibilities of the Collateral Agent and the Purchase Contract Agent within the agreement. It typically outlines how each agent acts on behalf of the parties, manages collateral, and administers purchase contracts, including holding security interests or facilitating contract performance. By clearly delineating the duties and authority of each agent, the clause ensures proper administration of collateral and contract obligations, reducing confusion and mitigating the risk of disputes between parties.