Existing Collateral Agent definition
Examples of Existing Collateral Agent in a sentence
The Existing Collateral Agent shall not have any duties, obligations, or responsibilities under this Agreement except as expressly set forth herein, and shall have the benefit of all exculpatory provisions, presumptions, indemnities, protections, benefits, immunities or reliance rights contained in the Indenture and in the Security Agreement in the acceptance, execution, delivery and performance of this Agreement as though fully set forth herein.
Notwithstanding any term herein to the contrary, it is hereby expressly agreed and acknowledged that the agreements set forth herein by the Existing Collateral Agent are made solely in its capacity as Collateral Agent under the Indenture and as Collateral Agent under the Security Agreement pursuant to the provisions of the Indenture and the direction of the Grantors and the holders of the Notes (as defined in the Indenture) therein contained, and not in its individual capacity.
This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the Existing Administrative Agent, the Existing Collateral Agent, the Existing Swingline Lender, the Existing Issuing Bank and the Successor Administrative Agent, the Successor Collateral Agent, the Successor Swingline Bank and the Successor Issuing Bank and shall be binding upon the successors and assigns of the Borrower and the other Loan Parties.
Notwithstanding any term herein to the contrary, it is hereby expressly agreed and acknowledged that the agreements set forth herein by the Existing Collateral Agent are made solely in its capacity as Trustee and as Collateral Agent under the Indenture and as Collateral Agent under the Security Agreement pursuant to the provisions of the Indenture and the direction of the Grantors and the holders of the Notes (as defined in the Indenture) therein contained, and not in its individual capacity.
The Obligors, subject to the terms and limits contained in the Loan Documents, acknowledge the assignment by the Existing Collateral Agent to Collateral Agent of all Existing Collateral Agent’s rights in the Collateral and reaffirm their Liens created in favor of Collateral Agent as the replacement collateral agent, for the benefit of the Lenders, on the Collateral to secure the Obligations hereunder.