Examples of German Security Document in a sentence
The Administrative Agent is not responsible to any of the Beneficiaries for any failure in perfecting or protecting the security created by any German Security Document unless directly caused by its gross negligence (xxxxx Fahrlässigkeit) or wilful misconduct (Vorsatz).
The Administrative Agent is not obliged to hold in its own possession any German Security Document, title deed or other document in connection with any asset over which security is intended to be created by a German Security Document.
The Collateral Agent will reasonably cooperate in transferring its rights and obligations under the Parallel Debts to any such successor agent and will reasonably cooperate in transferring all rights under any Belgian Security Document, Netherlands Security Document and any German Security Document or any Security Document governed by the laws of Belgium, the Netherlands or of Germany (as the case may be) to such successor agent.
Each Loan Party hereby irrevocably and unconditionally waives any right it may have to require a Secured Party (other than the Collateral Agent) to join with the Collateral Agent in any legal proceedings as co-claimant with Collateral Agent in respect of any Collateral Agent Parallel Debt Claim or the Collateral granted under any German Security Document.
For purposes of any Belgian Security Document, Netherlands Security Document and any German Security Document or any other right of pledge governed by the laws of Belgium, of the Netherlands or of Germany, any resignation by the Collateral Agent is not effective with respect to its rights under the Parallel Debts until all rights and obligations under the Parallel Debts have been assigned and assumed to the successor agent.