Collateral Agent Matters Clause Samples
The "Collateral Agent Matters" clause defines the rights, duties, and authority of the collateral agent in a secured financing arrangement. It typically outlines how the collateral agent acts on behalf of all secured parties, manages the collateral, and enforces security interests if a default occurs. For example, the clause may specify the agent's ability to release or substitute collateral, or to take legal action to protect the interests of the lenders. Its core practical function is to centralize and clarify the management of collateral, ensuring efficient enforcement and reducing conflicts among multiple secured parties.
Collateral Agent Matters. Each of the Creditors hereby irrevocably appoints and authorizes CIBC US to act as Collateral Agent on behalf of the Creditors hereunder and under the Security Instruments and to take such action on behalf of each of the Creditors, and to exercise all powers hereunder and thereunder and under any of the other documents or agreements executed or delivered in connection herewith and any related documents delegated to the Collateral Agent together with such powers as are reasonably incidental thereto. Collateral Agent accepts such appointment and shall in good faith exercise reasonable care and skill in the performance of its duties and responsibilities under this Agreement or in any Security Instrument. No duties or responsibilities not expressly assumed herein or in any Security Instrument shall be implied to have been assumed by the Collateral Agent and the Collateral Agent shall have no other obligation to the Creditors. The relationship between the Collateral Agent and the Creditors is and shall be that of agent only, and nothing contained in this Agreement or any of the other documents or agreements executed or delivered in connection herewith and any related documents shall be construed to constitute the Collateral Agent as a trustee for any Creditor nor shall the Collateral Agent have a fiduciary relationship in respect of any Creditor by reason of this Agreement or any of the other documents or agreements executed or delivered in connection herewith. Without limiting the generality of the foregoing, (i) the Collateral Agent shall not be subject to any fiduciary or other implied duties, regardless of whether an Event of Default has occurred and is continuing, (ii) the Collateral Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Collateral Agent is required to exercise, and (iii) except as expressly set forth herein, the Collateral Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Debtor that is communicated to or obtained by the Collateral Agent or any of its Affiliates in any capacity. The Collateral Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement, the Security Instruments or any of the other documents or agreements executed ...
Collateral Agent Matters. The rights, privileges, protections, immunities and indemnities in favor of the Collateral Agent under the Indenture shall apply to the Collateral Agent under this Agreement and shall be incorporated by reference into this Agreement.
Collateral Agent Matters. 75 Section 11.1
Collateral Agent Matters