Common use of Rights and Duties of the Collateral Agent Clause in Contracts

Rights and Duties of the Collateral Agent. The Collateral Agent shall have all of the rights and protections afforded to the Agent under Section 10 [The Administrative Agent] of the Credit Agreement, and all such rights and protections shall apply to the Collateral Agent with respect to this Security Agreement. The Collateral Agent shall have no duties with respect to this Security Agreement or the Collateral other than the duties applicable to the Administrative Agent under Section 10.3 [Exculpatory Provisions] of the Credit Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Stoneridge Inc), Credit Agreement (Stoneridge Inc)