Common use of Designation of the Collateral Manager Clause in Contracts

Designation of the Collateral Manager. Subject to Section 6.11, the servicing, administering and collection of the Collateral shall be conducted by the Collateral Manager. The Collateral Manager may, with the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld, conditioned or delayed) (provided that consent from the Administrative Agent shall not be required for any delegation to or subcontracting with the Investment Advisor or an Affiliate of the Collateral Manager), subcontract with any other Person for servicing, administering or collecting the Collateral; provided that (i) the Collateral Manager shall select any such Person with reasonable care and shall be solely responsible for the fees and expenses payable to such Person, (ii) the Collateral Manager shall not be relieved of, and shall remain liable for, the performance of the duties and obligations of the Collateral Manager pursuant to the terms hereof without regard to any subcontracting arrangement and (iii) any such subcontract shall be subject to the provisions hereof. The Collateral Manager may assign its rights and duties hereunder to a Permitted Affiliate in accordance with the terms hereof (including the definitions of “Permitted Affiliate” and the “Change of Control”).

Designation of the Collateral Manager. Subject to Section 6.11, the servicing, administering and collection of the Collateral shall be conducted by the Collateral Manager. The Collateral Manager may, with the prior written consent of the Administrative Agent (which consent shall not be unreasonably withheld, conditioned or delayed) (provided that consent from the Administrative Agent shall not be required for any delegation to or subcontracting with the Investment Advisor or an Affiliate of the Collateral Manager), subcontract with any other Person for servicing, administering or collecting the Collateral; provided that (i) the Collateral Manager shall select any such Person with reasonable care and shall be solely responsible for the fees and expenses payable to such Person, (ii) the Collateral Manager shall not be relieved of, and shall remain liable for, the performance of the duties and obligations of the Collateral Manager pursuant to the terms hereof without regard to any subcontracting arrangement and (iii) any such subcontract shall be subject to the provisions hereof. The Collateral Manager may assign its rights and duties hereunder to a Permitted Affiliate in accordance with the terms hereof (including the definitions of “Permitted Affiliate” and the “Change of Control”).