Designated Term Agent definition

Designated Term Agent means (i) the Initial Term Agent, until such time as (A) the Discharge of Term Obligations with respect to the Term Loan Credit Agreement has occurred or (B) the Initial Term Agent has notified other parties hereto that another Term Agent shall be the Designated Term Agent pursuant to any intercreditor agreement entered into in accordance with the Term Loan Credit Agreement, and (ii) thereafter, the Term Agent designated from time to time by all then extant Term Agents, in a written notice to the ABL Agent and the Term Loan Parties hereunder, as the “Designated Term Agent” for purposes hereof.
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Designated Term Agent means (i) the First Lien Term Agent, until such time as (A) the Discharge of First Lien Term Obligations with respect to the First Lien Term Loan Credit Agreement has occurred (which occurrence shall be confirmed in writing by a Term Agent) or (B) the First Lien Term Agent has notified other parties hereto in writing that the Second Lien Term Agent shall be the Designated Term Agent, pursuant to the Term Lender Intercreditor Agreement or otherwise, and (ii) thereafter, the Second Lien Term Agent.
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Designated Term Agent means (i) so long as the Initial Term Loan Agreement is outstanding, the Initial Term Agent, and (ii) thereafter, the Term Agent designated in a notice to the ABL Agent by all then extant Term Agents.
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Examples of Designated Term Agent in a sentence

  • The Designated Term Agent is hereby authorized to make any such endorsements as agent for the ABL Agent or any such other ABL Secured Parties.

  • All proceeds of such insurance shall be remitted to the ABL Agent or the Designated Term Agent, as the case may be, and each of the Term Agents and ABL Agent shall cooperate (if necessary) in a reasonable manner in effecting the payment of insurance proceeds in accordance with Section 4.1 hereof.

  • Such purchase price and cash collateral shall be remitted by wire transfer in federal funds to such bank account in New York, New York as the ABL Agent or the Designated Term Agent, as applicable, may designate in writing for such purpose.

  • All notices permitted or required under this Agreement need be sent only to the Term Agents or the Designated Term Agent, applicable, and the ABL Agent, as applicable, in order to be effective and otherwise binding on any applicable Claimholder.

  • Upon delivery of such notice by the ABL Agent to the Designated Term Agent, the parties shall confer in good faith to coordinate with respect to the ABL Agent’s exercise of such access rights and/or use rights.

  • Upon the Discharge of ABL Obligations, the ABL Agent shall deliver the remaining Pledged Collateral (if any) in its possession together with any necessary endorsements to the Designated Term Agent to the extent the Discharge of Term Obligations has not occurred.

  • If any Subordinated Lien Agent or any Subordinated Lien Claimholders shall, at any time, receive any Proceeds of any such insurance policy or any such award or payment with respect to Term Priority Collateral in contravention of this Agreement, it shall (to the extent in its possession in the case of the ABL Agent) segregate and hold in trust and forthwith pay such amount over to the Designated Term Agent in accordance with the terms of Section 4.2.

  • Each of the Term Agents and the ABL Agent agrees that if it sends any Enforcement Notice to another Agent, it shall be sent to all of the Agents; provided that the ABL Agent shall only be required to send notices to the Designated Term Agent.

  • In the event that the Designated Term Agent or any Term Secured Party becomes a judgment Lien creditor in respect of ABL Priority Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Term Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the ABL Obligations) in the same manner as the other Liens securing the Term Obligations are subject to this Agreement.