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

Collateral Agent May File Proofs of Claim. The Collateral Agent may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Collateral Agent and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property. Nothing in this Section 6.13 shall be deemed to authorize the Collateral Agent to authorize or consent to accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Collateral Agent to vote in respect of the claim of any Holder in such proceeding.

Appears in 2 contracts

Sources: Loan and Security Agreement (Ministry Partners Investment Company, LLC), Loan and Security Agreement (Ministry Partners Investment Company, LLC)