What does a collateral agent do?

(c) The Collateral Agent is to distribute any proceeds received from the realization of the Collateral which are distributable to the Lenders in proportion to their respective interests in the Obligations as defined in the Borrower Documents.

What is collateral enforcement?

Collateral Enforcement Action means (a) any exercise or enforcement of remedial rights with respect to Collateral (whether through a judicial proceeding or otherwise, including any exercise of any right or remedy with respect to Collateral under any of the applicable Documents or law), including any action to foreclose …

What is a collateral trust agreement?

A collateral trust agreement is a written agreement between the lender, the borrower, and the trustee. This type of agreement is also known as a deed of trust or a collateral trust certificate. A trust certificate is a bond or debt investment, usually in a public corporation, that is backed by other assets.

What is facility agent?

Acts as a facilitator between the lenders and the borrowers. The agency services depend upon the transaction structure but mainly includes the following: Monitoring compliance of pre-execution and post-execution conditions governing terms and conditions of credit facility.

What is an offshore security agent?

Offshore Security Agent means BNY Corporate Trustee Services Limited, acting in that capacity under a Common Terms Agreement between the Company and the Finance Parties for, and insuring the interests of, the Finance Parties, and includes its successors from time to time in that capacity.

What is a security financial collateral arrangement?

Financial collateral arrangements (FCAs) are a mechanism which enable corporate entities to take and enforce security, free from a number of restrictions and formalities which apply to other forms of security.

What is an administrative agent?

The financial institution that acts as agent for a syndicate of lenders in administering the loan facility with the borrower under a loan agreement. After the loan agreement closes, payments and communications between the borrower and the lenders are made through the administrative agent.

Who is the debtor in a security agreement?

A General Security Agreement (GSA) is a contract signed between two parties – a creditor (lender) and a debtor (borrower) – to secure personal loans, commercial loans, and other obligations owed to a lender.

What is the advantage of issuing a bond as collateral?

Collateral trust bonds have lower yields than unsecured bonds since they are perceived to be less risky due to the collateral held by the trustee. Investors will be willing to accept a lower yield on these bonds in return for a guaranteed stream of income and preserved principal investment.

What makes a void judgment subject to collateral attack?

The lack of statutory authority to make particular order or a judgment is akin to lack of subject matter jurisdiction and is subject to collateral attack. 46 Am. Jur. 2d, Judgments § 25, pp. 388-89. 3. A void judgment is to be distinguished from an erroneous one, in that the latter is subject only to direct attack.

Who is held responsible in a product liability case?

Product liability is the area of law in which manufacturers, distributors, suppliers and retailers are held responsible for any injuries products cause.

What happens if a real estate agent violates a duty?

Though the type of penalty differs depending on the circumstances of each situation, a real estate agent who violates these duties can be denied a commission from the transaction, be forced to compensate you for any damages arising from the breach of duty, face real estate license restrictions or revocations, or even face criminal charges.

Which is true about the responsibility to protect?

However, the traditional framework for responsibility, as well as the emerging norm of the responsibility to protect, are inadequate for addressing epidemics. Both perpetuate the fallacy that states can, on their own, cope with the increased incidence of epidemics and fail to adequately allocate responsibility.

What kind of property is involved in a repossession?

In most cases, cars are the primary asset involved in a repossession, but it could be real estate, jewelry, artwork or any tangible asset that can be sold to recoup money for the unpaid loan balance. A home foreclosure is one type of repossession.

Can a real estate broker work on behalf of a client?

Like an agent, a real estate broker can buy and sell property on behalf of clients, but can do so independently and without working under the supervision of another real estate broker. Brokers can also employ other real estate agents to work for them, or create a real estate brokerage,…

What are the obligations of a sales agent?

Except as specifically provided herein to the contrary, any sale of Products in the Territory shall be credited as sales made by Sales Agent and Sales Agent shall be entitled to the commission provided herein. 2. SALES AGENT’S OBLIGATIONS