Delegation to Closed-End Collateral Agent Administrator Clause Samples

The "Delegation to Closed-End Collateral Agent Administrator" clause authorizes the transfer of certain duties and responsibilities from the primary collateral agent to a designated administrator specifically for closed-end transactions. In practice, this means that the administrator may handle tasks such as managing collateral, processing payments, or overseeing compliance with collateral requirements, all under the oversight or direction of the main agent. This clause streamlines operations by allowing specialized administrators to efficiently manage complex or routine collateral-related functions, thereby reducing administrative burden and ensuring that the collateral is properly managed throughout the life of the transaction.
Delegation to Closed-End Collateral Agent Administrator. It is contemplated that, pursuant to the Closed-End Administration Agreement, the Closed-End Administrative Agent will delegate to the Closed-End Collateral Agent Administrator certain of the duties that the Closed-End Administrative Agent is required to perform on behalf of the Closed-End Collateral Agent pursuant to Section 5.1(a), and each party to this Collateral Agency Agreement and each Exchange Noteholder (by accepting the related Closed-End Exchange Note) consents to such delegation. In order to facilitate performance of the duties of the Closed-End Collateral Agent Administrator under the Closed-End Administration Agreement, the Closed-End Collateral Agent agrees to execute and deliver a power of attorney in favor of the Closed-End Collateral Agent Administrator in substantially the form set forth as Exhibit E.
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Related to Delegation to Closed-End Collateral Agent Administrator

  • Servicer Representative The Servicer will designate one or more representatives who will be available to assist the Asset Representations Reviewer in performing the Review, including responding to requests and answering questions from the Asset Representations Reviewer about access to Review Materials on the Servicer’s originations, receivables or other systems, obtaining missing or insufficient Review Materials and/or providing clarification of any Review Materials or Tests.