Common use of Collateral Agent and Representative Clause in Contracts

Collateral Agent and Representative. It is understood and agreed that (a) the First Lien Collateral Agent is entering into this Agreement in its capacity as collateral agent under the First Lien Credit Agreement and the provisions of Article X of the First Lien Credit Agreement applicable to the Agents (as defined therein) thereunder shall also apply to the First Lien Collateral Agent hereunder, (b) the Second Lien Collateral Agent is entering into this Agreement in its capacity as collateral agent under the Second Lien Credit Agreement and the provisions of Article X of the Second Lien Credit Agreement applicable to the Agents (as defined therein) thereunder shall also apply to the Second Lien Collateral Agent hereunder and (c) each other Representative party hereto is entering into this Agreement in its capacity as trustee or agent for the secured parties referenced in the applicable Additional Senior Priority Debt Document or Additional Second Priority Debt Document (as applicable) and the corresponding exculpatory and liability-limiting provisions of such agreement applicable to such Representative thereunder shall also apply to such Representative hereunder. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall require the Second Lien Collateral Agent to monitor any Grantor’s financial condition, compliance with covenants or any other circumstance bearing on the risk of non-payment, except as may be expressly provided in the Second Lien Credit Agreement.

Appears in 1 contract

Sources: Second Lien Credit Agreement (SolarWinds Corp)

Collateral Agent and Representative. It is understood and agreed that (a) the First Lien Collateral Agent is entering into this Agreement in its capacity as collateral agent under the First Lien Credit Agreement and the provisions of Article X of the First Lien Credit Agreement applicable to the Agents (as defined therein) thereunder shall also apply to the First Lien Collateral Agent hereunder, (b) the Second Lien Notes Collateral Agent is entering into this Agreement in its capacity as collateral agent under the Second Lien Credit Agreement Notes Indenture (and not in its individual capacity) and the provisions of Article X Articles VII and XII of the Second Lien Credit Agreement Notes Indenture applicable to the Agents (as defined therein) thereunder shall also apply to the Second Lien Notes Collateral Agent hereunder and (c) each other Representative party hereto is entering into this Agreement in its capacity as trustee or agent for the secured parties referenced in the applicable Additional Senior Priority Debt Document or Additional Second Priority Debt Document (as applicable) and the corresponding exculpatory and liability-limiting provisions of such agreement applicable to such Representative thereunder shall also apply to such Representative hereunder. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall require the Second Lien Notes Trustee or the Second Lien Notes Collateral Agent to monitor any Grantor’s financial condition, compliance with covenants or any other circumstance bearing on the risk of non-payment, except as may be expressly provided in the Second Lien Credit AgreementNotes Indenture.

Appears in 1 contract

Sources: First Lien Credit Agreement (SolarWinds Corp)

Collateral Agent and Representative. It is understood and agreed that (a) the First Lien Collateral Agent is entering into this Agreement in its capacity as collateral administrative agent under the First Lien Revolving Credit Agreement and collateral agent for the Priority Secured Parties and the provisions of Article X XI of the First Lien Revolving Credit Agreement and Article XI of the Term Loan Credit Agreement applicable to the Agents (as defined thereinin the Revolving Credit Agreement) thereunder shall also apply to the First Lien Collateral Agent hereunder, (b) the Second Lien Collateral Agent is entering into this Agreement in its capacity as collateral agent under the Second Lien Credit Agreement Debt Documents and the provisions of Article X VII and Article XI of the Second Lien Credit Agreement Notes Indenture applicable to the Agents [Trustees] (as defined therein) thereunder shall also apply to the Second Lien Collateral Agent hereunder hereunder, and (c) each other Representative party hereto the Third Lien Collateral [Agent][Trustee] is entering into this Agreement in its capacity as trustee or agent for [agent][trustee and collateral trustee] under the secured parties referenced in Third Lien Debt Documents and the provisions of Section [ ] of the Third Lien Debt Agreement applicable Additional Senior Priority Debt Document or Additional Second Priority Debt Document to the [Agents][Trustees] (as applicabledefined therein) and the corresponding exculpatory and liability-limiting provisions of such agreement applicable to such Representative thereunder shall also apply to such Representative the Third Lien Collateral [Agent][Trustee] hereunder. Notwithstanding anything in It is understood that any determination, request, direction, consent or election, deeming any action or document reasonable, appropriate or satisfactory, exercising discretion, or exercising any right or duty under this Agreement to the contrary, no provision of this Agreement shall require be made by the Second Lien Collateral Agent [and the Third Lien Collateral [Agent][Trustee] shall be pursuant to monitor any Grantor’s financial condition, compliance with covenants or any other circumstance bearing on the risk of non-payment, except as may be expressly provided in written direction from the Second Lien Credit AgreementNotes Trustee or the requisite percentage of holders of Second Lien Obligations under the Second Lien Notes Indenture [or the Third Lien [Trustee] or the requisite percentage of holders of Third Lien Obligations, as applicable].

Appears in 1 contract

Sources: Exchange Agreement (Ultra Petroleum Corp)