The lender wants the description of the collateral in the access to collateral agreement to match as much as possible the description of the collateral in the tenant`s pledge to the lender in the corresponding loan documents. Understanding each party`s priorities and views can be key to achieving a positive outcome in negotiating these agreements. ARTICLE 4.04. Securities Act. Having regard to the grantors` position with respect to the pledged security or other present or future circumstances, a matter under the Securities Act of 1933, as now or later amended, or any similar law that is subsequently promulgated by analogy in its object or effect (this Act and any similar legislation in force, effective from time to time, Federal Securities Laws) with respect to an injunction of the pledged warranty authorized hereunder. Each grantor understands that compliance with federal securities laws may severely restrict the conduct of the administrative agent if the administrative agent attempts to dispose of all or part of the pledged security and may also limit the scope or manner in which a subsequent purchaser of a pledged security may dispose of it. Similarly, there may be other legal restrictions or restrictions affecting the administrative agent when attempting to dispose of all or part of the pledged warranty in accordance with Blue Sky or other applicable state securities laws or similar laws that are analogous in their purpose or effect. Each grantor acknowledges that, in view of these restrictions and restrictions on the sale of the pledged interest, the administrative agent may limit buyers to those who, inter alia, agree to acquire such pledged security for their own account, for investments and not for distribution or resale. Each grantor acknowledges and agrees that, having regard to these limitations and limitations, the administrative agent may, in its sole and absolute discretion, (a) make such a sale, whether or not a registration statement has been filed for the purpose of registering such pledged warranty or any part thereof under the Federal Securities Laws, to the extent that the administrative agent has determined that such listing is not at the request of the law and (b) may contact and negotiate with a limited number of potential buyers (including an individual potential buyer) to make such a sale. Each grantor acknowledges and agrees that such a sale may result in prices and other conditions less favourable to the seller than if such a sale were a public sale without such restrictions.
In the event of such a sale, the administrative agent and the other secured parties shall not assume any liability for the sale of all or part of the pledged securities at a price that the administrative agent, in its sole discretion, deems reasonable in good faith in the circumstances, notwithstanding the possibility that a significantly higher price may have been obtained, whether the sale would have been postponed after registration as described above. or if more than a limited number of buyers (or a single buyer) have been targeted. The provisions of this section 4.04 shall apply irrespective of the existence of a public or private market where the selling prices or prices may significantly exceed the price at which the administrative agent sells. SECTION 5.05. Survival of the Agreement. (b) Neither this Agreement nor any provision of this Agreement may be waived, modified or modified except as a result of one or more written agreements between the Administrative Agent and the Licensor(s) to which such waiver, modification or modification is to apply, subject to the consent required under Article 9.02 of the Credit Agreement; provided that the administrative agent may agree, without the consent of a secured party, for a grantor to deviate from an agreement of such a grantor as set forth herein, to the extent that such deviation is consistent with the authority of the administrative agent as set out in the definition of the term “guarantee and guarantee requirement” in the credit agreement. “License” means any patent license, trademark license, copyright license or other license or sublicense agreement to which a person is a party, including exclusive copyright licenses under which a licensor is a licensee listed in Appendix III. Collateral access agreements typically include an express mutual waiver of special and consequential damages. Such a mutual waiver is much more likely to benefit the lender than the landlord in most cases, although it is usually always approved by the landlord.
The borrower may have limited options to provide collateral that would satisfy lenders. Even if a security agreement grants only a partial security right in the asset, lenders may be reluctant to offer financing for the asset. The possibility of a cross-guarantee would remain, which would force the liquidation of the property to try to release its value and offer compensation to the lenders. In the event of such a failure to receive credit, the lender will provide written notice to the owner. If the landlord takes possession of the premises or otherwise has the right to take possession of the premises, the landlord must send him a written notice. Note that the landlord may want an additional provision requiring the lender to withdraw the security or waive their right to do so after such notice from the landlord. Negotiations on access to collateral agreements – also known as owner waivers, subordination and consent agreements, etc. – vary widely. In part because of potential conflicts with mortgage loan documents over facility entitlements, the landlord often obtains consent from their mortgage lender under the terms of the access to collateral agreement. [2] AGREEMENT: This NIM Warranty Purchase Agreement as amended and modified, as may be amended, modified and/or adapted. Although the lease does not require the landlord to enter into a collateral access agreement or similar agreement, the landlord often agrees to do so as an accommodation for their tenant.
The landlord may make such a dwelling exclusively for relational purposes or at least partially, because the associated debt financing is advantageous for the financial situation and the functioning of the tenant. “Copyright License” means any written agreement in effect now or in the future that grants a person a right under a copyright that now or in the future belongs to another person, or that other person has the right to grant a license, and all of that person`s rights under that agreement. SECTION 4.01. Recourse in case of late payment. . . .
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