Examples of New Secured Parties in a sentence
The New Representative, on behalf of the New Secured Parties, and the Collateral Agent, on behalf of the existing Secured Parties, each hereby acknowledges and agrees that the Collateral Agent in its capacity as such shall be agent on behalf of the New Representative and on behalf of all other Secured Parties.
The New Representative represents, warrants and acknowledges that it has the authority to bind each of the New Secured Parties to the Collateral Trust Agreement and such New Secured Parties are hereby bound by the terms, conditions and provisions of the Collateral Trust Agreement, including, without limitation, the provisions relating to the ranking of Transaction Liens and the order of application of proceeds from the enforcement of Transaction Liens.
The New Representative, on behalf of the New Secured Parties, and the Collateral Trustee, on behalf of the existing Secured Parties, each hereby acknowledges and agrees that the Collateral Trustee in its capacity as such shall be agent on behalf of the New Representative and on behalf of all other Secured Parties.
The New Representative, on behalf of itself and the New Secured Parties, consents to and directs the Collateral Agent to perform its obligations under the Collateral Trust Agreement and the Security Documents.
Notwithstanding anything contrary herein or in the New Debenture Documents, the rights, benefits, priorities and interests of the Collateral Agent and the New Secured Parties (including, without limitation, with respect to the Collateral, the Proceeds thereof and exercise of rights, powers and remedies) shall be subject in all respects to the provisions of the Collateral Agency and Intercreditor Agreement.
Each Grantor hereby grants to the Collateral Agent for the benefit of the New Secured Parties a lien, security interest and right of setoff as security for all New Debenture Obligations to the New Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Collateral Agent or any entity under the control of the Collateral Agent.
Each Grantor shall legend, in form and manner reasonably satisfactory to the Collateral Agent, its Accounts Receivable and its books, records and documents evidencing or pertaining thereto with an appropriate reference to the fact that such Accounts Receivable have been assigned to the Collateral Agent for the benefit of the New Secured Parties and that the Collateral Agent has a security interest therein.
By their signatures on this Agreement, the Original Secured Parties consent to the sharing, on the same first secured priority basis, of their security interest in the Collateral under this Agreement and the Amended Patent and Trademark Security Agreement with the New Secured Parties, both as to the New Notes and as to any Option Notes that Sutura may sell and issue in the future to the New Secured Parties.
The rights and remedies of the Collateral Agent hereunder and of the New Secured Parties, under the New Debenture Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have.
Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party; and all covenants, promises and agreements by or on behalf of the Grantors or the Collateral Agent for the benefit of the New Secured Parties that are contained in this Agreement shall bind and inure to the benefit of their respective successors and assigns.