A supplement to collateral agreement is a document that is drafted when two organizations enter into an agreement where one of the parties is referred to as the subsidiary and the other party is referred to as the collateral agent. As per the agreement the organization referred to as the subsidiary becomes a pledgor in the collateral agreement. They have to agree to all the terms and conditions mentioned in the agreement. The subsidiary also has to represent and warrant that all the representation made by it are accurate and contains no false information. The new subsidiary also has to represent and warrant to the collateral agent and the secured parties that the supplement is authorized as well as executed by it. The other information mentioned in the agreement are as follows:
- The date on which the supplement becomes effective
- The provisions of the supplement
- The conditions under which the new subsidiary may have to reimburse the collateral agent.
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