Common use of Collateral Agent May File Proofs of Claim Clause in Contracts

Collateral Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Collateral Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether any Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise: (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Secured Parties (including any claim for the compensation, expenses, disbursements and advances of the Secured Parties and their respective agents and counsel and all other amounts due the Secured Parties hereunder and under the other Loan Documents) allowed in such judicial proceeding; and (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

Collateral Agent May File Proofs of Claim. (a) In case of the pendency of any proceeding under any Debtor Relief Law insolvency or any other judicial liquidation proceeding relative to any Loan Partythe Borrower or the Pledgor, the Collateral Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Collateral Agent or any Agent other Senior Secured Party shall have made any demand on the Borrower) shall be entitled and empowered (empowered, but shall not be obligated) , by intervention in such proceeding or otherwise: : (ai) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Senior Secured Parties (including any claim for the reasonable compensation, expenses, disbursements and advances of the Senior Secured Parties and their respective agents and counsel and all other amounts due the Senior Secured Parties hereunder and under the other Loan Documents) allowed in such judicial proceeding; and Section 3.11 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;Fees), Section 10.06 (