Collateral Manager Termination Event definition

Collateral Manager Termination Event. The occurrence of any one of the following:

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Collateral Manager Termination Event means the occurrence of any of the events, acts or circumstances set forth in Section 6.03.

Examples of Collateral Manager Termination Event in a sentence

The Administrative Agent may, in its discretion after the occurrence of a Collateral Manager Termination Event or an Event of Default, send notification forms giving each relevant administrative agent or Obligor, as applicable, notice of the Secured Parties’ interest in the Collateral and the obligation to make payments as directed by the Administrative Agent.
The Collateral Custodian may rely conclusively on and shall be fully protected in acting upon (a) the written instructions of any designated officer of the Administrative Agent or, prior to the occurrence of an Event of Default or Collateral Manager Termination Event, the Borrower or the Collateral Manager or (b) the verbal instructions of the Administrative Agent or, prior to the occurrence of an Event of Default or Collateral Manager Termination Event, the Collateral Manager.
The Collateral Custodian may rely conclusively on and shall be fully protected in acting upon (a) the written instructions of any designated officer of the Administrative Agent or, prior to the occurrence of an Event of Default or Collateral Manager Termination Event, the Collateral Manager or (b) the verbal instructions of the Administrative Agent or, prior to the occurrence of an Event of Default or Collateral Manager Termination Event, the Collateral Manager.
Upon the occurrence of a Collateral Manager Termination Event, notwithstanding anything herein to the contrary, the Administrative Agent, by written notice to the Collateral Manager and a copy to the Collateral Custodian (such notice, a “Collateral Manager Termination Notice”), may, in its sole discretion, terminate all of the rights and obligations of the Collateral Manager as Collateral Manager under this Agreement.

More Definitions of Collateral Manager Termination Event

Collateral Manager Termination Event. As defined in Section 7.10.

Collateral Manager Termination Event means (a) the resignation, removal or termination of the Collateral Manager under the Collateral Management Agreement at any time for any reason; or (b) any event shall occur that shall permit the Collateral Manager to be replaced pursuant to the Collateral Management Agreement.

Collateral Manager Termination Event means the occurrence of any one or more of the following events:

Collateral Manager Termination Event hereunder:

Collateral Manager Termination Event has the meaning assigned to that term in Section 6.12. “Collateral Manager Termination Notice” has the meaning assigned to that term in Section 6.12. “Collateral Portfolio” means all right, title, and interest (whether now owned or hereafter acquired or arising, and wherever located) in all accounts, money, chattel paper, equipment, fixtures, documents, general intangibles, instruments, goods, commercial tort claims, deposit accounts, investment property (including certificated securities, uncertificated securities, financial assets and securities entitlements), letter-of-credit rights, supporting obligations (as such terms are defined in the UCC), contract rights, software and other property of the Borrower, including all rights, title and interest in and consisting of, arising out of, or related to any of the following (in each case excluding the Retained Interest and the Excluded Amounts):

Collateral Manager Termination Event. The occurrence of any one of the following: (a) any failure by the Collateral Manager to make any payment, transfer or deposit into the Collection Account as required by this Agreement, which failure continues unremedied for a period of three (3) Business Days after the Collateral Manager receives written notice or has actual knowledge of such failure; (b) any failure on the part of the Collateral Manager duly to observe or perform in any material respect any material covenants or agreements of the Collateral Manager set forth in any Transaction Document to which the Collateral Manager is a party (including any material delegation of the Collateral Manager’s duties in contravention of the terms hereof) and the same continues unremedied, to the extent capable of being cured, for a period of ten (10) days (if such failure can be remedied) after the earlier to occur of (i) the date on which written notice of such failure shall have been given to the Collateral Manager and (ii) the date on which the Collateral Manager acquires knowledge thereof; (c) the failure of the Collateral Manager to make any payment when due (after giving effect to any related grace period) with respect to any recourse debt or other obligations for borrowed money, which debt or other obligations are in excess of the Threshold in the aggregate, and such amounts remain unpaid for five (5) Business Days after the occurrence of such failure to pay, unless such failure is waived pursuant to the related agreement, or the occurrence of any event or condition that has resulted in the acceleration of such recourse debt or other obligations for borrowed money, whether or not waived; (d) an Insolvency Event shall occur with respect to the Collateral Manager; -15- [Willow Tree BDC] Amended and Restated Loan, Security and Collateral Management Agreement #506694681

Collateral Manager Termination Event wherever used herein, means any one of the following events (whatever the reason for such Collateral Manager Termination Event and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): (a) any Event of Default shall have occurred and be continuing; or (b) the Collateral Manager is required to be registered under the Investment Company Act and is not registered; or (c) except as otherwise provided in this Section 6.03, (i) a failure by the Collateral Manager to deliver (or cause to be delivered) any Monthly Report when due and such default is not cured within three Business Days; or (ii) a default in the performance or breach in a covenant by the Collateral Manager with respect to the management and distribution of funds received with respect to the Collateral Loans, and such failure or default is not cured within two Business Days; or (iii) a default in any material respect in the performance, or breach in any material respect, of any other covenant or other agreement of the Collateral Manager under this Agreement or the other Facility Documents, or the failure of any representation or warranty of the Collateral Manager made in this Agreement, in any other Facility Document or in any certificate or other writing delivered pursuant hereto or thereto or in connection herewith or therewith to be correct in each case in all material respects when the same shall have been made, and the continuation of such default, breach or failure for a period of thirty days after the earlier of (x) written notice to the Collateral Manager (which may be by email) by the Administrative Agent or the Collateral Agent (acting at the direction of the Administrative Agent), and (y) actual knowledge of the Collateral Manager; or (d) the rendering of one or more final judgments, decrees or orders against the Collateral Manager (exclusive of any amounts fully covered by insurance) by a court or arbitrator of competent jurisdiction for the payment of money in excess individually or in the aggregate of (i) at any time the Collateral Manager and the Administrator, collectively, have at least $5,000,000,00010,000,000,000 in assets under its management, $5,000,00012,500,000 or more, or (ii) at any time the Collateral Manager and the Administrator, collectively, have less than $5,000,000,00010,000,000,000 in assets under its manage...