Lessor Collateral definition
Examples of Lessor Collateral in a sentence
Any receiver, trustee or representative appointed for all or any part of Lessor Collateral shall be entitled to exercise all rights of Collateral Agent under this Agreement and the other Operative Documents to the extent provided in such appointment and shall be entitled to exercise all the powers and pursue all the remedies of Collateral Agent hereunder with respect to Lessor Collateral.
It is agreed that ten (10) Business Days' notice to Lessor of the date, time and place (and terms, in the case of a private sale) of any proposed sale by Collateral Agent of Lessor Collateral or any part thereof or interest therein is reasonable.
Each of Administrative Agent, Collateral Agent and any Secured Party may be a purchaser of Lessor Collateral or any part thereof or any interest therein at any sale thereof, whether pursuant to foreclosure or power of sale or otherwise.
The powers conferred on Collateral Agent hereunder are solely to protect the security interest in Lessor Collateral and shall not impose any duty upon Collateral Agent to exercise any such powers.
Administrative Agent will not, without the prior consent of (i) Indenture Trustee on behalf of all Tranche A Noteholders and (ii) all Tranche B Lenders, agree to any waiver or amendment that would, prior to the payment in full of the Secured Obligations, release all or substantially all of the Lessor Collateral from the Lien created by the Security Documents, other than in accordance with the terms of the Operative Documents.