Examples of Secured Representative in a sentence
Each Grantor further agrees, at the Collateral Trustee’s request, acting at the direction of the Secured Representative for the Required Secured Parties, to assemble the Collateral and make it available to the Collateral Trustee at places which the Collateral Trustee shall reasonably select, whether at such Grantor’s premises or elsewhere.
Upon receipt of any such notice of resignation, the Controlling Secured Representative shall have the right, subject to the consent of the Company (not to be unreasonably withheld or delayed) so long as no Default under Section 11.1 or 11.5 of the Credit Agreement is continuing, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States.
Notwithstanding the equal priority of the Liens, the Applicable Secured Representative and Collateral Agent may deal with the Pledged Collateral as if such Applicable Secured Representative and Collateral Agent had a senior Lien on such Collateral.
The Collateral Trustee shall promptly following receipt of any such information, provide a copy of such information to each other Secured Representative.
No Non-Applicable Secured Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Applicable Secured Representative, Collateral Agent or Controlling Secured Party or any other exercise by the Applicable Secured Representative, Collateral Agent or Controlling Secured Party of any rights and remedies relating to the Pledged Collateral.
The Additional Secured Party hereby becomes a Secured Party as [Administrative Agent/Collateral Trustee] [Secured Representative] [a holder of Additional Obligations] [a Secured Commodity Hedging Counterparty].
Each Borrower and each Subsidiary Grantor shall promptly provide the Collateral Trustee and each Secured Representative with a copy of each Accession Agreement executed and delivered pursuant to this Section.
In no event will any Secured Representative be liable for any act or omission on the part of the Grantors or the Collateral Agent hereunder.
All obligations of the Collateral Agent hereunder will inure to the sole and exclusive benefit of, and be enforceable by, each Secured Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns.
If an Event of Default shall occur and be continuing, the Collateral Trustee, on behalf of the Secured Parties, may exercise, acting at the direction of the Secured Representative for the Required Secured Parties, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, all rights and remedies of a secured party under the New York UCC or any other Applicable Law.