Parity Collateral Trustee definition
Examples of Parity Collateral Trustee in a sentence
For purposes of perfecting the security interests hereunder, all property in the possession or control of the Collateral Trustee will be held by the Collateral Trustee in its capacity as Priority Collateral Trustee, for the benefit of the Priority Lien Secured Parties, and in its capacity as Parity Collateral Trustee, for the benefit of the Parity Lien Secured Parties, in each case subject to the terms of the Collateral Trust Agreement.
The Parity Collateral Trustee and its successors and assigns under this Agreement will hold the Junior Trust Estate in trust for the benefit solely and exclusively of all present and future holders of Parity Lien Obligations as security for the payment of all present and future Priority Lien Obligations.
The parties hereto agree that the payment and satisfaction of all of the Secured Obligations within each Class shall be secured Equally and Ratably by each of the security interests established in favor of the Priority Collateral Trustee and the Parity Collateral Trustee belonging to such Class.
The Collateral Trust Agreement dated as of May 12, 2014, by and among Borrower, Forestar Group and the Subsidiaries of Forestar Group named as additional “Grantors” thereunder, Agent, U.S. Bank National Association, as trustee under the Senior Secured Notes Indenture, Priority Collateral Trustee and Parity Collateral Trustee, as the same may be modified, amended, supplemented, restated or replaced from time to time in accordance with the provisions hereof and thereof.
The parties further declare and covenant that the Junior Trust Estate will be held and distributed by the Parity Collateral Trustee subject to the further agreements herein.
The Grantor, the Priority Collateral Trustee, Parity Collateral Trustee and Account Collateral Trustee hereby acknowledge and agree that the security interest created hereby in the Collateral is not, in and of itself, to be construed as a grant of a fee interest in (as opposed to a security interest in) any Copyright, Trademark, Patent, Copyright License, Patent License, Trademark License, Trade Secret or Trade Secret License.
The Guarantors, the Pledgors, the Priority Collateral Trustee and the Parity Collateral Trustee hereby acknowledge and agree that the security interest created hereby in the Collateral is 37 US-DOCS\104213874.12 not, in and of itself, to be construed as a grant of a fee interest in (as opposed to a security interest in) any Intellectual Property, including any Copyright, Trademark, Patent, Copyright License, Patent License, Trademark License, Trade Secret or Trade Secret License.
The Parity Collateral Trustee and its successors and assigns under this Agreement will hold the Parity Trust Estate in trust for the benefit solely and exclusively of all present and future holders of Parity Lien Obligations as security for the payment of all present and future Parity Lien Obligations.
U.S. Bank National Association, in its capacity as Parity Collateral Trustee under the Collateral Trust Agreement, together with its successors and assigns in such capacity.
The Borrower shall pay on demand all reasonable out-of-pocket costs and expenses of the Administrative Agent, the Trustee, the Priority Collateral Trustee and the Parity Collateral Trustee (including the reasonable fees, costs and expenses of counsel to the Administrative Agent, the Trustee, the Priority Collateral Trustee and the Parity Collateral Trustee) incurred in connection with the preparation, execution and delivery of this Reformation.