Action by Administrative Agent. The duties of Administrative Agent shall be mechanical and administrative in nature. Administrative Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender. Nothing in this Agreement or any of the Financing Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing Documents except as expressly set forth herein or therein.
Appears in 26 contracts
Samples: Credit Agreement (Warren Resources Inc), Credit and Guaranty Agreement (Pernix Therapeutics Holdings, Inc.), Credit Agreement (Warren Resources Inc)
Action by Administrative Agent. The duties of Administrative Agent shall be mechanical and administrative in nature. Administrative Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender. Nothing in this Agreement or any of the Financing Loan Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing Loan Documents except as expressly set forth herein or therein.
Appears in 4 contracts
Samples: Credit Agreement (PHX Minerals Inc.), Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co)
Action by Administrative Agent. The duties of Administrative Agent shall be mechanical and administrative in nature. Administrative Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any LenderLender or LC Issuer. Nothing in this Agreement or any of the Financing other Loan Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing other Loan Documents except as expressly set forth herein or therein.
Appears in 2 contracts
Samples: Credit Agreement (Unit Corp), Credit Agreement
Action by Administrative Agent. The duties of Administrative Agent shall be mechanical and administrative in nature. Administrative Agent shall not have by reason of this Agreement a fiduciary relationship in respect of to any Lender. Nothing in this Agreement Lending Party or any other Person. The obligations of the Financing Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing Documents except as hereunder are only those expressly set forth herein or thereinand under the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent shall not be required to take any action with respect to any Default, except as expressly provided in Article VIII.
Appears in 2 contracts
Samples: Credit Agreement (Medical Staffing Network Holdings Inc), Credit Agreement (Medical Staffing Network Holdings Inc)
Action by Administrative Agent. The duties of Administrative Agent shall be mechanical and administrative in nature. Administrative Agent shall not have by reason of this Agreement a Credit and Security Agreement 46 fiduciary relationship in respect of any Lender. Nothing in this Agreement or any of the Financing Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing Documents except as expressly set forth herein or therein.
Appears in 1 contract
Samples: Credit and Security Agreement (Penwest Pharmaceuticals Co)
Action by Administrative Agent. The duties of the Administrative Agent shall be mechanical and administrative in nature. The Administrative Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender. Nothing in this Agreement or any of the Financing Loan Documents is intended to or shall be construed to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the Financing Loan Documents except as expressly set forth herein or therein.
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Action by Administrative Agent. (1) The duties obligations of the Administrative Agent hereunder are only those expressly set forth herein. Without limiting the generality of the foregoing, the Administrative Agent shall not be mechanical and administrative required to take any action with respect to any Default, except as expressly provided in natureArticle VI. The Administrative Agent shall not have by reason of this Agreement the execution and delivery of the Loan Documents to which it is a party, the performance of any of its obligations thereunder, or by the use of the term “Administrative Agent”, a fiduciary relationship in respect of any Lender. Nothing in this Agreement Bank or any of the Financing Documents is intended to or shall be construed to impose upon Administrative Agent any obligations in respect of this Agreement or any of the Financing Documents except as expressly set forth herein or thereinBorrower.
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