Examples of International Secured Parties in a sentence
Each Lender and L/C Issuer hereby consents to the automatic release and hereby directs the Administrative Agent and the International Collateral Agent, as applicable, to release or subordinate any Lien held by the International Collateral Agent for the benefit of the International Secured Parties in accordance with the International Security Documents.
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.
No International Secured Party has any fiduciary relationship or duty to any International Loan Party arising out of or in connection with, and there is no agency, tenancy or joint venture relationship between the International Secured Parties and the International Loan Parties by virtue of, any International Loan Document or any transaction contemplated therein.
Once per calendar month, and in any event no later than the 15th day of each month (or if such day is not a Business Day, the immediately preceding Business Day), the Parent shall deliver a reasonably detailed report describing its progress in perfecting sufficient Receivables pledged in favor of the International Collateral Agent for the benefit of the International Secured Parties to permit the Commitments to be fully utilized in accordance with Section 2.3(a).
A Lender may cure its status as a Non-Funding Lender under clause (a) of the definition of “Non-Funding Lender” if such Lender fully pays to the Administrative Agent, on behalf of the applicable International Secured Parties, the Aggregate Excess Funding Amount, plus all interest due thereon, and timely funds the next Loan required to be funded by such Lender or makes the next reimbursement required to be made by such Lender.
All uses of an E-System shall be governed by and subject to, in addition to Section 11.11 and this Section 11.12, separate terms and conditions posted or referenced in such E-System and related Contractual Obligations executed by International Secured Parties and the International Loan Parties in connection with the use of such E-System.
The rights and remedies of the Agents and the other International Secured Parties hereunder and under the other International Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have.
The International Secured Parties are intended third-party beneficiaries of this Section 8.
Such Agents and the International Secured Parties shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any International Loan Party for any act or failure to act hereunder, except for their own gross negligence, willful misconduct, fraud or bad faith.
If at any time any Grantor shall take a Lien in any Property of an Account Debtor or any other Person the value of which equals or exceeds $2,500,000 to secure payment of an Account, such Grantor shall promptly assign such Lien to the International Collateral Agent for the benefit of the International Secured Parties.