Common use of Collateral Sub-Agents Clause in Contracts

Collateral Sub-Agents. Each Lender and L/C Issuer by its execution and delivery of this Agreement (or any Assignment and Acceptance hereunder), agrees that, in the event it shall hold any monies or other investments on account of the Borrowers or any other Credit Party, such monies or other investments shall be held in the name and under the control of the Collateral Agent, the Administrative Agent, such L/C Issuer or such Lender, and the Collateral Agent, the Administrative Agent, such L/C Issuer or such Lender shall hold such monies or other investments as a collateral sub-agent for Administrative Agent and Collateral Agent under this Agreement and the other Loan Documents. The Borrowers and each other Credit Party, by its execution and delivery of this Agreement, hereby consents to the foregoing.