Existing Collateral Agent definition
Examples of Existing Collateral Agent in a sentence
The Existing Collateral Agent shall not have any duties, obligations, or responsibilities under this Agreement except as expressly set forth herein, and shall have the benefit of all exculpatory provisions, presumptions, indemnities, protections, benefits, immunities or reliance rights contained in the Indenture and in the Security Agreement in the acceptance, execution, delivery and performance of this Agreement as though fully set forth herein.
The Existing Collateral Agent hereby assigns, effective as of the Effective Date, to the Collateral Trustees its existing security interests and Liens (the “Existing Liens”) in any Collateral pursuant to the Existing Non-Shared Security Agreement.
The parties agree that Ableco Finance LLC -------- shall hereby become the "Collateral Agent" hereunder (with all the rights and obligations thereof) and that henceforth the Existing Collateral Agent shall cease to be a party hereto and shall have no further rights or obligations hereunder.
This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the Existing Administrative Agent, the Existing Collateral Agent, the Existing Swingline Lender, the Existing Issuing Bank and the Successor Administrative Agent, the Successor Collateral Agent, the Successor Swingline Bank and the Successor Issuing Bank and shall be binding upon the successors and assigns of the Borrower and the other Loan Parties.
The Existing Administrative Agent and the Existing Collateral Agent authorize the Loan Parties, the Successor Administrative Agent and the Successor Collateral Agent (and their respective counsel) to prepare and file such UCC financing statements and amendments under the Uniform Commercial Code in the offices and jurisdictions that the Successor Administrative Agent deems necessary or appropriate to effectuate the intent and purposes of this Agreement.