Collateral Agent definition
Examples of Collateral Agent in a sentence
In connection with any such distribution of payments or proceeds of Collateral, Agent shall be entitled to assume no amounts are due or owing to any Bank Product Provider unless such Bank Product Provider has provided a written certification (setting forth a reasonably detailed calculation) to Agent as to the amounts that are due and owing to it and such written certification is received by Agent a reasonable period of time prior to the making of such distribution.
No failure on the part of any Secured Party or the Collateral Agent to exercise, and no delay in exercising, any right, remedy, power or privilege under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.
As security for the due and punctual payment of all of the Obligations, the Borrower Group Members shall grant a continuing security interest and a first-ranking Lien in favour of the Collateral Agent (for the benefit of the Secured Parties) over all of the Collateral (subject only to Permitted Liens), and in furtherance thereof shall deliver or cause to be delivered to the Collateral Agent, for the benefit of the Secured Parties, in form and substance satisfactory to the Lenders, acting reasonably.
Any representation or warranty made, or any financial statement or certificate furnished to Secured Parties and the Collateral Agent, by the BorrowerBorrowers or any other Borrower Group Member under or in connection with the Loan Documents shall prove to have been incorrect or misleading in any material respect when made or deemed made.
TheEach B▇▇▇▇▇▇▇ also agrees to timely pay to the relevant Governmental Body in accordance with Applicable Law, or at the option of the Secured Parties or the Collateral Agent timely reimburse the Secured Parties or the Collateral Agent (as applicable) for the payment of, any Other Taxes and other charges made by any jurisdiction by reason of the execution, delivery, performance and enforcement of the Loan Documents.