Common use of Designation of Collateral Administrator Clause in Contracts

Designation of Collateral Administrator. (a) Initial Collateral Administrator. Until a successor ▇▇▇▇▇▇▇▇▇▇ Administrator is appointed in accordance with this Article XV, Virtus is hereby appointed as, and hereby accepts such appointment and agrees to perform the duties and obligations of Collateral Administrator pursuant to the terms hereof and of the other Facility Documents to which the Collateral Administrator is a party.