Designated Collateral Agent definition

Designated Collateral Agent means (i) initially, the Initial Credit Agreement Collateral Agent until the earliest to occur of (x) Discharge of all Initial Credit Agreement Obligations and (y) the Non-Controlling Senior Representative Enforcement Date, and (ii) from and after the earlier of (x) the Discharge of all Initial Credit Agreement Obligations and (y) the Non-Controlling Senior Representative Enforcement Date, the Collateral Agent for the Series of Senior Obligations represented by the Major Non-Controlling Senior Representative; provided, in each case, that if there shall occur one or more Non-Controlling Senior Representative Enforcement Dates, the Designated Collateral Agent shall be the Collateral Agent for the Series of Senior Obligations represented by the Major Non-Controlling Senior Representative in respect of the most recent Non-Controlling Senior Representative Enforcement Date.
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Designated Collateral Agent means Victory Park Management, LLC, in its capacity as the Collateral Agent on behalf of each of the Secured Parties.
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Examples of Designated Collateral Agent in a sentence

  • Without limitation to the foregoing, each Grantor agrees to take, and to cause each other Grantor to take, such further action and to execute and deliver such additional documents and instruments (in recordable form, if requested) as the Designated Collateral Agent may reasonably request to effectuate the terms of and the lien priorities contemplated by the Intercreditor Agreement.

  • As between the Senior Secured Parties, the Designated Collateral Agent (acting at the direction of the Designated Senior Representative) shall have the right, but no obligation, to adjust or settle any insurance policy or claim covering or constituting Shared Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral.

  • No Non-Controlling Senior Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Designated Collateral Agent, the Designated Senior Representative or any Controlling Secured Party or any other exercise by the Designated Collateral Agent, the Designated Senior Representative or any Controlling Secured Party of any rights and remedies relating to the Shared Collateral, or to cause the Designated Collateral Agent to do so.

  • The provisions of this Article 8 are solely for the benefit of the Administrative Agent, the Lead Collateral Agent, the Designated Collateral Agent, and the Lenders and neither the Borrower nor any other Credit Party shall have rights as a third‑party beneficiary of any of such provisions.

  • It is understood and agreed that the use of the term “agent” in this Agreement or in any other Loan Document (or any other similar term) with reference to the Administrative Agent, the Lead Collateral Agent, or the Designated Collateral Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law.

  • Notwithstanding Section 2.01, only the Designated Collateral Agent shall act or refrain from acting with respect to Shared Collateral (including with respect to any other intercreditor agreement with respect to any Shared Collateral); provided that at any time any Other Collateral Agent is the Designated Collateral Agent, such Other Collateral Agent shall have provided prior written notice of any such action to each Senior Representative and Collateral Agent.

  • The Designated Senior Representative and Designated Collateral Agent, as applicable, is hereby authorized to make any such endorsements as agent for each of any such Senior Secured Party.

  • Notwithstanding any other provision of this Agreement, nothing herein shall be construed to impose any fiduciary or other duty on any Designated Collateral Agent to any Non-Controlling Secured Party or give any Non-Controlling Secured Party the right to direct any Designated Collateral Agent, except that each Designated Collateral Agent shall be obligated to distribute proceeds of any Shared Collateral in accordance with Section 2.01 hereof.

Related to Designated Collateral Agent

  • ABL Collateral Agent means the “Collateral Agent” as defined in the ABL Credit Agreement.

  • Controlling Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional Collateral Agent (acting on the instructions of the Applicable Authorized Representative).

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Trust Collateral Agent means such successor Person.

  • Collateral Agent as defined in the preamble hereto.