Common use of Hypothecary Representative Clause in Contracts

Hypothecary Representative. 11.1. The Hypothecary Representative shall be appointed pursuant to the terms of the Collateral Agency Agreement for the purposes of holding the Note Security for the benefit of the Note Investors in order to secure the Company’s obligation under the Transaction Documents. The Company shall cause each Additional Investor, upon its execution of a Joinder Agreement to this Agreement, to deliver a joinder agreement to the Collateral Agency Agreement to the Hypothecary Representative. 11.2. Each Additional Investor agrees that it is and shall be bound by, and hereby assumes, all covenants, terms, conditions, obligations, duties and waivers applicable to a Note Investor under the Collateral Agency Agreement, and promptly following the entering into of the applicable Joinder Agreement, shall enter into a joinder to the Collateral Agency Agreement providing for the foregoing.