Credit Agreement Representative definition
Examples of Credit Agreement Representative in a sentence
All obligations of the Borrower and the other Grantors hereunder will inure to the sole and exclusive benefit of, and be enforceable by, the Collateral Agent, each Credit Agreement Representative and each present and future holder of Pari Passu Guaranteed Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns.
If the Collateral Agent at any time receives written notice from the Directing Credit Agreement Representative that any Triggering Event has occurred entitling the Collateral Agent to foreclose upon, collect or otherwise enforce its Liens on the Collateral under any Credit Agreement Security Document, the Collateral Agent will promptly deliver written notice thereof to each Credit Agreement Representative.
All communications and notices hereunder to the New Credit Agreement Representative shall be given to it at its address set forth below its signature hereto.
In no event will any Credit Agreement Representative be liable for any act or omission on the part of the Grantors or the Collateral Agent hereunder.
The Collateral Agent will permit each Credit Agreement Representative and each holder of Pari Passu Guaranteed Obligations upon reasonable written notice from time to time to inspect and copy, at the cost and expense of the party requesting such copies, any and all Credit Agreement Security Documents and other documents, notices, certificates, instructions or communications received by the Collateral Agent in its capacity as such.
All obligations of the Collateral Agent hereunder will inure to the sole and exclusive benefit of, and be enforceable by, each Credit Agreement Representative and each present and future holder of Pari Passu Guaranteed Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns.
The Borrower shall promptly provide each Credit Agreement Representative with a copy of each Joinder executed and delivered pursuant to this Section 8.18.
Following and in accordance with the outcome of the applicable vote under its Credit Agreement Documents, the Credit Agreement Representative of each Series of Credit Agreement Debt will cast all of its votes as a block in respect of any vote under this Agreement.
Therefore, each Secured Party agrees not to charge or offset any amount owed to it by any Grantor against any of the accounts, property or assets of any Grantor or any of its affiliates held by such Secured Party without the prior written approval of each Credit Agreement Representative and the Specified Lenders.
Each Credit Agreement Representative shall have all of the rights, protections, immunities and indemnities set forth in the Credit Agreement Documents and other agreements governing the applicable Pari Passu Obligations with respect to which such Person will act as representative, in each case as if specifically set forth herein.