Common use of Swiss Security Assignment Agreement Clause in Contracts

Swiss Security Assignment Agreement. Effective upon accession of Amdipharm AG as a party hereto (which accession shall be conclusive evidence of Amdipharm AG’s consent to this Section 5.10(d)), the Credit Agreement Collateral Agent will be deemed to hold the collateral assigned to it pursuant to the Swiss Security Assignment Agreement both on its behalf and for the benefit of the Credit Agreement Secured Parties and as gratuitous agent on behalf of the other Collateral Agents and for the benefit of the other First Lien Secured Parties. In addition, the Credit Agreement Collateral Agent agrees to execute an acknowledgment of the notification regarding the assignment of the claim for re-assignment of such collateral pursuant to the assignment agreement between Amdipharm AG as assignor and the Notes Collateral Agent to be entered into as part of the Swiss Pledge and Security Agreements.