Examples of Pledged Master Collateral in a sentence
Nothing herein is intended or shall be construed to give any other Person any right, remedy or claim under, to or in respect of this Agreement or the Pledged Master Collateral.
The Collateral Agent is hereby irrevocably appointed the true and lawful attorney-in-fact of each of the Beneficiaries, in its name and stead, for such purposes as are necessary or desirable to effectuate the provisions of this Agreement, including, without limitation, in exercising remedies upon or otherwise dealing with the Pledged Master Collateral.
Each Grantor owns and has good and marketable title to the Pledged Master Collateral in which such Grantor has an interest, free and clear of all Liens (other than Permitted Liens).
Nothing in this Section 6.16 shall be construed to limit the Collateral Agent from exercising its rights hereunder with respect to the Pledged Master Collateral.
It shall take all action necessary to maintain and to perfect the Collateral Agent’s security interest on behalf of the related Beneficiary in the applicable Pledged Master Collateral in which it has an interest now in existence and hereafter acquired or created, including, without limitation, the filing of any financing or continuation statements under the UCC in effect in any jurisdiction with respect to the liens and security interests granted hereunder.
The Collateral Servicer may delegate to any Affiliate of the Collateral Servicer (each such delegee, in such capacity, a “Sub-Collateral-Servicer”) the performance of the Collateral Servicer’s obligations as Collateral Servicer in respect of Pledged Master Collateral (but the Collateral Servicer shall remain fully liable for its obligations in respect of such Pledged Master Collateral under this Agreement).
It shall warrant and defend the Collateral Agent’s right, title and interest in and to the Pledged Master Collateral in which it has an interest and the Proceeds thereof, for the benefit of the related Beneficiary against the claims and demands of all Persons whomsoever.
The Collateral Servicer shall indemnify and hold harmless the Collateral Agent from any present or future claim for liability for any stamp or other similar tax and any penalties or interest with respect thereto, that may be assessed, levied or collected by any jurisdiction in connection with this Agreement or any Pledged Master Collateral.
The Collateral Agent hereby expressly waives any and all rights of setoff, abatement, diminution or deduction that it may otherwise at any time have under applicable law with respect to the Pledged Master Collateral, provided, however, that this waiver shall apply only to obligations owed to the Collateral Agent in its individual capacity and not as an agent for the Beneficiaries, and agrees that all Pledged Master Collateral shall at all times be held and applied in accordance with the provisions hereof.
This Agreement shall remain in effect until no Beneficiary shall have any claim on the Pledged Master Collateral.