Collateral Issuer definition
Examples of Collateral Issuer in a sentence
If a letter of credit is furnished as Threshold Event Collateral, such Controlling Noteholder shall replace such letter of credit with other Threshold Event Collateral within 30 days if the credit ratings of the Threshold Collateral Issuer are downgraded below the required ratings; provided, however, that, if such Threshold Event Collateral is not so replaced, the Master Servicer shall draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral.
By delivery of a copy of this Agreement to the issuer of the Collateral ("Issuer"), the Bank and you hereby advise the Issuer that you have obtained a Loan from the Bank, which Loan and related Obligations are secured by an assignment of the Collateral.
With respect to both the Obligations and the Collateral, Issuer assents to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release of Collateral, to the addition or release of any party or person primarily or secondarily liable, to the acceptance of partial payment thereon and the settlement, compromising or adjusting of any thereof, all in such manner and at such time or times as Purchaser may deem advisable.
In connection with any sale or other disposition of any Collateral, Issuer may disclaim warranties of title, possession, quiet enjoyment or the like without affecting the commercial reasonableness of such sale or other disposition.
Pending the final application of the Net Cash Proceeds of a sale of assets not constituting Collateral, Issuer may temporarily reduce revolving credit indebtedness or otherwise invest such Net Cash Proceeds in any manner that is not prohibited by this Indenture.
Without limiting the generality of the foregoing covenant, in the event at any time the Trustee shall determine that additional transfer or similar taxes are required to be paid to perfect or continue any Lien 97 -90- on any Collateral, Issuer shall pay such taxes promptly upon demand by the Trustee.
If a Servicer Event of Default arises from the failure of Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Collateral, Issuer will take all reasonable steps available to it to remedy such failure.