Change of Security Agent Sample Clauses

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Change of Security Agent. The Security Agent may resign at any time by giving not less than 30 days prior written notice to the Lender and the Borrower. The Lender shall have the right to appoint a successor security agent, but if it does not do so within the 30 day notice period, the Security Agent may do so on its behalf. The resignation of the Security Agent shall not take effect until a successor security agent has been appointed. Upon such appointment, the successor security agent shall succeed to and become vested with all of the rights, powers, discretions and duties of the retiring Security Agent.
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Change of Security Agent. The Security Agent may assign and transfer all ------------------------ of its rights to the Security Assets and all of its rights and obligations under this Deed to a replacement Security Agent appointed in accordance with this Deed and, when such assignment and transfer takes effect, the replacement Security Agent shall be for all purposes acting as agent and trustee in accordance with the trusts in this Deed.
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Change of Security Agent. (a) DLJ Capital Funding Inc. may (so long as it is the Security Agent), with the prior approval of such Lender, designate any Lender as a replacement Security Agent. Any Lender so designated shall become the Security Agent by delivering to the Facility Agent a duly executed Agent's Accession Agreement, which DLJ Capital Funding Inc. shall counter-sign. The Obligors shall take such action as the Facility Agent may reasonably require in order that the Security Documents or replacements therefor shall provide for effective and perfected security in favour of any replacement Security Agent. (b) Such replacement Security Agent shall promptly notify the Obligors' Agent and the other Lenders that it has become the Security Agent. (c) Clause 24 shall continue to benefit DLJ Capital Funding, Inc. in respect of any action taken or omitted by it while it was Security Agent.
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Change of Security Agent. In the event that there is any change in the identity of the Security Agent or an additional Security Agent is appointed in accordance with the Security Documents, the DSRA Account Bank (being duly indemnified by the Issuer for any reasonable costs incurred which are agreed to in writing in advance by the Issuer and are in compliance with the Public Contracts Code) shall execute such documents with any other parties to this Agreement and take such actions as such new Security Agent may require for the purposes of vesting in such new Security Agent the rights of the Security Agent under this Agreement and under the Security Documents and, where applicable, releasing the Security Agent from further obligations thereunder.
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Change of Security Agent. In the event that there is any change in the identity of the Security Agent or an additional Security Agent is appointed in accordance with the Security Documents, the Electronic Payments Account Bank (being duly indemnified by the Issuer for any reasonable costs incurred which are agreed to in writing in advance by the Issuer and are in compliance with the Public Contracts Code) shall execute such documents with any other parties to this Agreement and take such actions as such new Security Agent may require for the purposes of vesting in such new Security Agent the rights of the Security Agent under this Agreement and under the Security Documents and, where applicable, releasing the Security Agent from further obligations thereunder.
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Change of Security Agent. The Security Agent may:
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Change of Security Agent 
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Related to Change of Security Agent

  • Release of Security (a) If a disposal of any asset subject to any Transaction Security is made in the following circumstances: (i) the Majority Lenders agree to the disposal; (ii) the disposal is allowed by the terms of the Finance Documents and will not result or could not reasonably be expected to result in any Default; (iii) the disposal is being made at the request of the Security Agent or Secondary Security Agent in circumstances where any Security created by the Transaction Security Documents has become enforceable; or (iv) the disposal is being effected by enforcement of a Transaction Security Document, the Security Agent and Secondary Security Agent (as applicable) are each irrevocably authorised to release the asset(s) being disposed of (including, where the shares in an Obligor are being disposed of, the assets of that Obligor) from the Transaction Security. However, the proceeds of any disposal (or an amount corresponding to them) must be applied in accordance with the requirements of the Finance Documents (if any). (b) In relation to a disposal under paragraphs (a)(iii) or (iv) above, where such disposal relates to the shares in an Obligor, the Security Agent and Secondary Security Agent (as applicable) is irrevocably authorised, on behalf of the Lenders and the Hedge Counterparties, to release that Obligor from all or any part of the Debt owed by it. (c) Any release under this Clause will not become effective until the date of the relevant disposal or otherwise in accordance with the consent of the Majority Lenders. (d) If a disposal is not made, then any release relating to that disposal will have no effect, and the obligations of the Obligors and Security Providers under the Finance Documents will continue in full force and effect. (e) If the Security Agent or Secondary Security Agent is satisfied that a release is allowed under this Clause, (at the request and expense of the relevant Obligor or Security Provider) each Secured Party must enter into any document and do all such other things which are reasonably required to achieve that release. Each Secured Party irrevocably authorises the Security Agent and the Secondary Security Agent (as applicable) to enter into any such document. Any release will not affect the obligations of the Obligors and Security Providers under the Finance Documents.

  • Principle of Security The Board and the Association agree that increased length of service in the employment of the Board entitles all employees covered by this Agreement to commensurate increase in security of teaching employment, provided that they possess the qualifications necessary for the positions available.

  • Protection of Security Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the Security Interest of the Collateral Agent in the Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 6.02 of the Credit Agreement.

  • Confirmation of Security Borrower hereby confirms and agrees that all of the Security Instruments, as may be amended in accordance herewith, which presently secure the Indebtedness shall continue to secure, in the same manner and to the same extent provided therein, the payment and performance of the Indebtedness as described in the Credit Agreement as modified by this Amendment.

  • Perfection of Security Each Obligor shall have duly authorized, executed, acknowledged, delivered, filed, registered and recorded such security agreements, notices, financing statements, memoranda of intellectual property security interests and other instruments as the Agent may have reasonably requested in order to perfect the Liens purported or required pursuant to the Credit Documents to be created in the Credit Security and shall have paid all filing or recording fees or taxes required to be paid in connection therewith, including any recording, mortgage, documentary, transfer or intangible taxes.