Administrative Agent to Maintain Collateral Agent Sample Clauses
The "Administrative Agent to Maintain Collateral Agent" clause designates the administrative agent as responsible for ensuring that a collateral agent is appointed and maintained throughout the duration of a financing arrangement. In practice, this means the administrative agent must oversee the selection, appointment, and ongoing engagement of a collateral agent, who holds and manages collateral on behalf of the lenders. This clause ensures that the interests of the lenders are protected by guaranteeing that a qualified party is always in place to manage collateral, thereby reducing the risk of mismanagement or loss of security interests.
Administrative Agent to Maintain Collateral Agent. The Administrative Agent will (i) maintain the Collateral Agent in existence in its jurisdiction of organization, (ii) maintain all qualifications, licenses and approvals from governmental authorities that are necessary or advisable for the performance of the Collateral Agent's obligations under this Agreement, (iii) maintain a 100% limited liability company interest in the Collateral Agent and (iv) comply with, and take all actions necessary or advisable to avoid a violation of, the HTD LLC Agreement.