Authorized Collateral Agent definition

Authorized Collateral Agent as defined in the Guarantee and Collateral Agreement.

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Authorized Collateral Agent has the meaning specified in the Intercreditor Agreement.

Authorized Collateral Agent means, as the context requires, the Authorized Pari Passu Collateral Agent or the Authorized Subordinated Collateral Agent.

Examples of Authorized Collateral Agent in a sentence

• The exculpatory provisions of this Article shall apply to any such sub-agent and to the Affiliates of the Authorized Collateral Agent and any such sub-agent.

• The Authorized Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.

• Each Authorized Collateral Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it in good faith to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.

• As between the First Lien Secured Parties, the Authorized Collateral Agent shall have the right to adjust or settle any insurance policy or claim covering or constituting Common Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral.

• Each Authorized Collateral Agent may consult with legal counsel (who may include, but shall not be limited to counsel for the Parent Borrower or counsel for any Secured Debt Representative), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in good faith in accordance with the advice of any such counsel, accountants or experts.

• Each Authorized Collateral Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Security Document by or through any one or more sub-agents appointed by such Authorized Collateral Agent.

• Each Authorized Collateral Agent and each Secured Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any holder of Secured Obligations or any other Person as a result of such determination.

• The exculpatory provisions of this Article shall apply to any such sub-agent and to the Affiliates of either Authorized Collateral Agent and any such sub-agent.

• The Authorized Collateral Agent and each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any First Lien Secured Party or any other person as a result of such determination.

• Each Authorized Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it in good faith to have been made by the proper Person, and shall not incur any liability for relying thereon.

More Definitions of Authorized Collateral Agent

Authorized Collateral Agent means, with respect to any Common Collateral, (i) until the earlier of (x) the Discharge of Term Loan Credit Facility Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Term Loan Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Term Loan Credit Facility Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Major Non-Controlling Authorized Representative.

Authorized Collateral Agent at any time an Applicable Intercreditor Agreement is in effect, the agent authorized under such Applicable Intercreditor Agreement to act on behalf of all parties secured by the Common Collateral (which may, for the avoidance of doubt, be the Collateral Agent if so authorized under the Applicable Intercreditor Agreement) and, at any other time, the Collateral Agent.

Authorized Collateral Agent means, with respect to any Common Collateral,

Authorized Collateral Agent has the meaning specified therefor in the Pari Passu Intercreditor Agreement.

Authorized Collateral Agent in the Shared Collateral Intercreditor Agreement.

Authorized Collateral Agent unless specified otherwise in the First Lien Financing Documents, Second Lien Financing Documents or Third Lien Financing Documents, as applicable, means the Person or Persons authorized by the related Secured Parties to act on their behalf with respect to their Liens or the obligations owed to them under such Secured Parties’ respective agreements.