International Collateral Agent definition
Examples of International Collateral Agent in a sentence
Any such Person shall benefit from this Article 10 to the extent provided by the Administrative Agent and the International Collateral Agent.
The Administrative Agent, the International Collateral Agent and its respective Affiliates may make loans and other extensions of credit to, acquire Equity Interests and Equity Equivalents of, engage in any kind of business with, any International Loan Party or Affiliate thereof as though it were not acting as Administrative Agent or International Collateral Agent and may receive separate fees and other payments therefor.
The Administrative Agent and the International Collateral Agent shall not be required to exercise any discretion or take, or to omit to take, any action, including with respect to enforcement or collection, except any action it is required to take or omit to take (i) under any International Loan Document or (ii) pursuant to instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion of the Lenders).
Subject to the provisions of Section 11.11(a), each of the Administrative Agent, the International Collateral Agent, the International Loan Parties, the Lenders, the L/C Issuers and each of their Related Persons is authorized (but not required) to transmit, post or otherwise make or communicate, in its sole discretion, Electronic Transmissions in connection with any International Loan Document and the transactions contemplated therein.
Each of the Administrative Agent, the International Collateral Agent, each Lender and each L/C Issuer agrees promptly to notify the Borrower and the Administrative Agent after any such setoff and application made; provided, however, that the failure to give such notice shall not affect the validity of such setoff and application.
Each payment undertaking of an International Loan Party to the International Collateral Agent under this Section 10.12 is hereinafter to be referred to as a “Parallel Debt”.
The Administrative Agent and the International Collateral Agent may, upon any term or condition it specifies, delegate or exercise any of its rights, powers and remedies under, and delegate or perform any of its duties or any other action with respect to, any International Loan Document by or through any trustee, co-agent, employee, attorney-in-fact and any other Person (including any International Secured Party).
Nothing contained in this Section 11.14 shall affect the right of the Administrative Agent, the International Collateral Agent or any Lender to serve process in any other manner permitted by applicable Requirements of Law or commence legal proceedings or proceed against any International Loan Party in any other jurisdiction.
Each Lender and L/C Issuer hereby directs the Administrative Agent and the International Collateral Agent, as applicable, and the Administrative Agent and International Collateral Agent (as applicable) hereby agree, upon receipt of reasonable advance notice from the Borrower, to execute and deliver or file such documents and to perform other actions reasonably necessary to release such Liens when and as directed in this Section 10.10.
The rights under this Section 11.8 are in addition to any other rights and remedies (including other rights of setoff) that the Administrative Agent, the International Collateral Agent, the Lenders and the L/C Issuers and their Affiliates and other International Secured Parties may have.