Master Collateral Agent definition
Examples of Master Collateral Agent in a sentence
The Trustee may, prior to the related Payment Date, provide notice to the Issuers and the Master Collateral Agent of any information contained in the Payment Date Statement that the Trustee believes to be incorrect.
Each of the Lenders hereby irrevocably appoints the Master Collateral Agent to act on its behalf as the Master Collateral Agent under the Collateral Documents and authorizes the Master Collateral Agent to take such actions on its behalf and to exercise such rights, powers, authorities and privileges as are expressly delegated to the Master Collateral Agent by the terms hereof and the other Collateral Documents, together with such actions and powers as are reasonably incidental thereto.
During the continuance of a Senior Secured Debt Event of Default, the Master Collateral Agent shall not release any Lien permitted to be released under the Collateral Agency and Accounts Agreement and the other Senior Secured Debt Documents unless the Required Debtholders have consented to such release pursuant to an Act of Required Debtholders.
Except as otherwise specified in the Fee Letter or the Collateral Administrator and Master Collateral Agent Fee Letter, as applicable, all Fees shall be paid on the dates due, in immediately available funds, (a) to the Administrative Agent, as provided herein and in the Administrative Agent Fee Letter or (b) to the Collateral Administrator or the Master Collateral Agent, as applicable, as provided in the Collateral Administrator and Master Collateral Agent Fee Letter.
The Trustee, the Collateral Custodian, the Issuers and the Guarantors hereby acknowledge and agree that the Master Collateral Agent holds the Collateral in trust for the benefit of the Senior Secured Parties pursuant to the terms of the Collateral Documents and the Intercreditor Agreements.