Common use of Undertaking of the Collateral Agent Clause in Contracts

Undertaking of the Collateral Agent. Subject to, and in accordance with, this Agreement, the Security Documents and any written instructions delivered in accordance with this Agreement, the Collateral Agent will, as agent, for the benefit solely and exclusively of the Lenders: (a) accept, enter into, hold, maintain, administer and enforce all Security Documents, perform its obligations under the Security Documents and protect, exercise and enforce the interests, rights, powers and remedies granted or available to it under, pursuant to or in connection with the Security Documents; (b) remit all cash proceeds received by the Collateral Agent from the collection, foreclosure or enforcement of its interest in the Collateral in accordance with this Agreement and the Security Documents; (c) execute and deliver any consents, amendments, notices, agreements or documents or take any other action necessary or required to obtain any and all necessary approvals; and (d) perform all functions and take any action necessary or desirable to further or better achieve any of the above.