Concerning the Trustee and Collateral Agent Clause Samples
This clause defines the roles, responsibilities, and authority of the trustee and collateral agent in a financial or security agreement. It typically outlines how these parties are appointed, the scope of their powers in managing collateral, and their duties to act on behalf of the secured parties or bondholders. For example, it may specify the process for enforcing security interests or distributing proceeds from collateral. The core function of this clause is to ensure clear governance and accountability in the administration and enforcement of collateral, thereby protecting the interests of all parties involved.
Concerning the Trustee and Collateral Agent. Section 7.01. Duties and Responsibilities of Trustee 42 Section 7.02. Reliance on Documents, Opinions, Etc. 44 Section 7.03. No Responsibility for Recitals, Etc. 45 Section 7.04. Trustee, Collateral Agent, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes 46 Section 7.05. Monies to Be Held in Trust 46 Section 7.06. Compensation and Expenses of Trustee 46 Section 7.07. Officer’s Certificate as Evidence 47 Section 7.08. Eligibility of Trustee 47 Section 7.09. Resignation or Removal of Trustee 47 Section 7.10. Acceptance by Successor Trustee or Successor Collateral Agent 49 Section 7.11. Succession by Merger, Etc. 49 Section 7.12. Trustee’s or Collateral Agent’s Application for Instructions from the Company 50
Concerning the Trustee and Collateral Agent. The recitals contained in this Supplemental Indenture shall be taken as the statements of the Co-Issuers, and the Trustee assume no responsibility for their correctness. Except as provided in the Indenture, the Trustee and the Collateral Agent shall not be responsible or accountable in any way whatsoever for or with respect to the validity, execution or sufficiency of this Supplemental Indenture and makes no representation with respect thereto. In entering into this Supplemental Indenture, the Trustee and the Collateral Agent shall be entitled to the benefit of every provision of the Indenture relating to the conduct of or affecting the liability of or affording protection to the Trustee and the Collateral Agent. Without limiting the generality of the foregoing, concurrent with the execution of this Supplemental Indenture, the Collateral Agent shall be released from its obligations under the Indenture provided however that the rights, protections, indemnities and immunities of the Collateral Agent under the Indenture shall survive such release.
Concerning the Trustee and Collateral Agent. U.S. Bank Trust Company, National Association is entering into this Supplemental Indenture solely in its capacities as Trustee and as Collateral Agent under the Indenture and not in its individual or corporate capacity. In acting hereunder, the Trustee and the Collateral Agent shall be entitled to all of the rights, privileges, indemnities and immunities set forth in the Indenture as if such rights, privileges, indemnities and immunities were set forth herein.
Concerning the Trustee and Collateral Agent