Collateral Beneficiary definition
Examples of Collateral Beneficiary in a sentence
In disposing of the Collateral, Beneficiary may disclaim all warranties of title, possession, quiet enjoyment and the like.
In the event of a Trustee's sale of all the Collateral, Beneficiary hereby assigns its security interest in the personal property Collateral to the Trustee.
In order to obtain performance of Grantor's obligations under the Loan Documents, without waiving its rights in the Collateral, Beneficiary may proceed against Grantor or any Borrower or may proceed against any other security or guaranty for the Secured Obligations, in such order and manner as Beneficiary may elect.
Upon the completion of any foreclosure or trustee’s sale of all or a portion of the Collateral, Beneficiary may commence an action to recover any of the Obligations that remain unpaid or unsatisfied.
Without waiving its rights in the Collateral, Beneficiary may proceed against Grantor, any other party obligated to pay or perform the Secured Obligations or against any other security or guaranty for the Secured Obligations, in such order or manner as Beneficiary may elect.
To the extent that proceeds of the Notes are used, either directly or indirectly, to pay any outstanding lien, charge or prior encumbrance against the Collateral, Beneficiary shall be subrogated to any and all rights and liens held by any owner or holder of such outstanding liens, charges and prior encumbrances, irrespective of whether said liens, charges or encumbrances are released.
The Collateral Beneficiaries are intended third party beneficiaries of this Agreement; provided, however, that a Collateral Beneficiary shall not have any rights under this Agreement from and after the date on which all of the loans made or securities (including Asset Backed Securities) issued in connection with the related Financing Transaction shall have been paid in full.
The Trustee shall have no right to be paid any compensation by, or to be reimbursed for any expenses by the Depositor, any Securitization Trust, any Securitization Trustee or any other Collateral Beneficiary.
At any time on or after the Commitment Termination Date, at the request of the Administrative Agent, the Parent (and Harbor Point Re with respect to each Investment Entity) shall cause such Pledgor (or such Pledgor’s Collateral Provider if such Pledgor is a Collateral Beneficiary) to take such actions as may be necessary to ensure that its Collateral consists solely of Cash and Cash Equivalents.
In order to obtain performance of Grantor's obligations under the Loan Documents, without waiving its rights in the Collateral, Beneficiary may proceed against Grantor or may proceed against any other security or guaranty for the Secured Obligations, in such order and manner as Beneficiary may elect.