Omnibus Agent definition

Omnibus Agent means GMAC, in its capacity as Omnibus Agent pursuant to the Omnibus Security Agreement.
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Examples of Omnibus Agent in a sentence

  • The Borrowers and the Guarantors each hereby further acknowledge and agree that the Lenders, the Credit Agent and the Omnibus Agent reserve all rights, remedies and options under the Facility Documents to require either Borrower to satisfy in all respects the conditions relating to the making of any loan under the Facility Documents and each Obligor to perform all of its obligations under the Facility Documents which are then due and owing or are susceptible of performance, as the case may be.

  • Until all of the Obligations have been paid in full in cash and all Secured Transactions under the Specified Documents have been terminated, the Omnibus Agent may release Collateral from the security interest granted to the Omnibus Agent pursuant to this Agreement or any other agreement in its sole discretion.

  • The Lender Agent hereby appoints the Omnibus Agent to hold any Collateral (other than any MSR Collateral or Derivative Collateral) which constitutes Account Collateral, Bailment Collateral or Pledged Property, and the Omnibus Agent hereby accepts such appointment.

  • RFC hereby represents and warrants to the Lender Agent and the Omnibus Agent that the US Mortgage Loans described in such Mortgage Schedule (the “Loans”) that are being added are Eligible Assets, all conditions precedent to the Loans constituting Approved Additional Collateral have been satisfied and that the addition of the Loans otherwise complies with the terms of the Facility Documents.

  • The Omnibus Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given.

  • Each Grantor acknowledges that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by the Omnibus Agent would not be commercially unreasonable in the Omnibus Agent’s exercise of remedies against the Collateral and that other actions or omissions by the Omnibus Agent shall not be deemed commercially unreasonable solely on account of not being specifically referred to in this Section.

  • Each Secured Party hereby authorizes the Omnibus Agent to take such action on its behalf under the provisions of this Agreement and to exercise such powers and perform such duties as are delegated to the Omnibus Agent hereunder.

  • Upon the request of the Omnibus Agent, the Grantors agree to deliver or cause to be delivered to the Omnibus Agent, opinions of external and/or in-house counsel for the relevant Grantor, in form and substance reasonably satisfactory to the Omnibus Agent and at the Grantors’ joint and several expense, in connection with any such Joinder Agreement or additional provision of collateral.

  • In addition, Article XII of the Original Loan Agreement shall survive the execution and delivery of this Agreement with respect to actions or the failure to act by Ally Financial in its capacity as Lender Agent or Omnibus Agent (each as defined therein) and Article XII of the Original Credit Agreement shall survive the execution and delivery of this Agreement with respect to actions or the failure to act by Ally Financial in its capacity as Credit Agent.

  • RFC hereby requests that the Lender Agent and the Omnibus Agent consent to the addition of such US Mortgage Loans.

Related to Omnibus Agent

  • Omnibus Agreement means that certain Omnibus Agreement, dated as of the Closing Date, among the General Partner, the Partnership, the Operating Company and certain other parties thereto, as such may be amended, supplemented or restated from time to time.

  • Amended Credit Agreement means the Existing Credit Agreement as amended hereby.

  • Credit Agreement Agent means, at any time, the Person serving at such time as the “Agent” or “Administrative Agent” under the Credit Agreement or any other representative then most recently designated in accordance with the applicable provisions of the Credit Agreement, together with its successors in such capacity.

  • New Credit Agreement means the Credit Agreement, dated as of the Issue Date, by and among Level 3 Parent, LLC, Level 3 Financing, Inc., Wilmington Trust, National Association, as administrative agent, the New Credit Agreement Agent and each lender party thereto from time to time, as may be amended, restated, supplemented or otherwise modified from time to time.

  • Second Amended and Restated Credit Agreement shall have the meaning assigned to such term in the recitals of this Agreement.