Treatment of Collateral Sample Clauses

Treatment of Collateral. (a) Neither the Collateral Agent nor any of its any of its co-agents, sub-agents or attorneys-in-fact, including, without limitation, the Sub-Collateral Agents, shall be responsible for insuring the Collateral or for the payment of Taxes (and shall not be responsible for any Tax reporting in connection with this Agreement), charges, assessments or liens upon the Collateral. Neither the Collateral Agent nor any of its co-agents, sub-agents or attorneys-in-fact, including, without limitation, the Sub-Collateral Agents, shall be under any obligation independently to request or examine insurance coverage with respect to any Collateral. Neither the Collateral Agent nor any of its co-agents, sub-agents and attorneys-in-fact, including, without limitation, the Sub-Collateral Agents, shall be responsible for the maintenance of the Collateral, except as expressly provided herein when the Collateral Agent or any such co-agent, sub-agent or attorney-in-fact has possession of the Collateral. (b) In connection with the exercise of any rights or remedies in respect of, or foreclosure or realization upon, any Collateral pursuant to this Agreement or any other Security Document or any other Secured Transaction Document, the Collateral Agent shall not be obligated to take title to or possession of any item of Collateral in its own name, or otherwise in a form or manner that may, in its reasonable judgment, expose it to liability. In the event that the Collateral Agent deems that it may be considered an “owner or operator” under any Environmental Laws or otherwise cause the Collateral Agent to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, the Collateral Agent reserves the right, instead of taking such action, either to resign as the Collateral Agent subject to the terms and conditions hereof or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Collateral Agent will not be liable to any Person for any environmental liability or any Environmental Claims or contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Agent’s actions and conduct as authorized, empowered or directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment. (c) The Collateral Agent and each of the LC Facility Agent and Xxxx in its capacity as Sub-Colla...
Sample 1
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Treatment of Collateral. Lender shall be under no duty to: (i) collect or protect the Collateral or any proceeds thereof or give any notice with respect thereto; (ii) sell or otherwise realize upon the Collateral; or (iii) seek payment from any particular source. Without limiting the generality of the foregoing, Lender shall not be obligated to take any action in connection with any conversion, call, redemption, retirement or any other event relating to any of the Collateral. After payment of part of the Obligations, Lender may, at its option, retain all or any portion of the Collateral as security for any remaining Obligations and retain this Agreement as evidence of such security. The Borrower agrees to reimburse Lender, on demand, for any amounts paid or advanced by Lender from and after the occurrence of a breach of this Agreement by Borrower until cured for the purposes of preserving the Collateral or any part thereof and any liabilities or expenses incurred by Lender as the transferee or holder of the Collateral. During any period in which there are no uncured breaches of this Agreement by Borrower, nothing contained in this Section 4 shall be construed to limit the ability of the Borrower to use the IP in the ordinary course of business consistent with past practices.
Sample 1
Treatment of Collateral. For the avoidance of doubt, the voting rights of the Securities and Intermediated Securities being subject to this Agreement shall always remain with the Xxxxxxx. However, the Bank shall be entitled but not obliged to represent the Xxxxxxx with regard to the pledged securities and to exercise any possible membership rights. In the event that the Collateral shall be transferred to a new owner, the Xxxxxxx agrees to cooperate and to issue upon request any declarations, endorsements or assignments reasonably necessary for the enforcement of the Collateral. The Xxxxxxx authorises the Bank to take all steps which the Bank considers reasonably necessary for the creation, perfection, preservation and realisation of the Collateral and agree to immediately fulfil all formalities which the Bank may reasonably require. The Bank is authorised, but not obliged, to call in and to collect pledged and/or assigned securities, bills of exchange, claims and the like, as well as to collect interest, dividends, etc. It shall, however, not be obliged to file claims against the Xxxxxxx in the event of bankruptcy, death, public notice to creditors, judicial inventory, etc. of the Xxxxxxx itself. The Xxxxxxx is exclusively responsible for the preservation of the value of the Collateral. In addition, and irrespective of any measures taken by the Xxxxxxx, the Bank may take but is not obliged to take any such measures it deems necessary in order to protect its own interests in the Collateral.
Sample 1

Related to Treatment of Collateral

  • Impairment of Collateral Not use any material portion of the Collateral, or permit the same to be used, for any unlawful purpose, in any manner that is reasonably likely to materially adversely impair the value or usefulness of the Collateral, or in any manner inconsistent with the provisions or requirements of any policy of insurance thereon nor affix or install any accessories, equipment, or device on the Collateral or on any component thereof if such addition will materially impair the original intended function or use of the Collateral or such component.

  • Protection of Collateral (a) The Issuer will (i) execute and deliver all such supplements and amendments to this Indenture and instruments of further assurance and other instruments, (ii) file or authorize and cause to be filed all such financing statements and amendments and continuations of such financing statements and (iii) take such other action, in each case necessary or advisable to: (A) maintain or preserve the Lien and security interest (and the priority of such security interest) of this Indenture or carry out more effectively the purposes of this Indenture; (B) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; (C) enforce any of the Collateral; or (D) preserve and defend title to the Collateral and the rights of the Indenture Trustee and the Secured Parties in the Collateral against the claims of all Persons. (b) The Issuer authorizes the Administrator and the Indenture Trustee to file any financing or continuation statements, and amendments to such statements, in all jurisdictions and with all filing offices as are necessary or advisable to preserve, maintain and protect the interest of the Indenture Trustee in the Collateral. Such financing and continuation statements may describe the Collateral in any manner as the Administrator or the Indenture Trustee may reasonably determine to ensure the perfection of the interest of the Indenture Trustee in the Collateral (including describing the Collateral as “all assets” of the Issuer). The Administrator or the Indenture Trustee, as applicable, will deliver to the Issuer file-stamped copies of, or filing receipts for, any such financing statement and continuation statement promptly upon such document becoming available following filing. (c) The Indenture Trustee is under no obligation (i) to make any determination of whether any such financing or continuation statements, and amendments to such statements, are required to be filed pursuant to this Section 3.5 or (ii) to file any such financing or continuation statements, or amendment to such statements, and will not be liable for failure to do so.

  • Preservation of Collateral Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Pledged Collateral pledged by the Pledgors shall be applied by the Secured Party as set forth in Section 7.06 of the Credit Agreement.

  • Assignment of Collateral There is no material collateral securing any Mortgage Loan that has not been assigned to the Purchaser.

  • Loss of Collateral There occurs any uninsured loss to any material portion of the Collateral; or

  • Types of Collateral None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes or standing timber.

  • Disposition of Collateral Such Grantor will not sell, lease or otherwise dispose of the Collateral owned by it except for dispositions specifically permitted pursuant to Section 6.05 of the Credit Agreement.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Assembly of Collateral Assemble and make available to the Administrative Agent the Collateral and all records relating thereto at any place or places specified by the Administrative Agent.

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