Addition of New Fund Group Borrower, AIV Borrower and Parallel Fund Borrowers Sample Clauses

Addition of New Fund Group Borrower, AIV Borrower and Parallel Fund Borrowers. The obligation of the Lenders to advance a Borrowing to a proposed Borrower in a new Fund Group (a “New Fund Group Borrower”) AIV Borrower or Parallel Fund Borrower, as applicable, hereunder is subject to the conditions that the Borrowers in the applicable Fund Group shall have given the Administrative Agent at least fifteen (15) Business Days prior written notice (or such shorter period agreed to by the Administrative Agent in its sole and absolute discretion) and each of the following:
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Related to Addition of New Fund Group Borrower, AIV Borrower and Parallel Fund Borrowers

  • Designation of Lead Borrower as Borrowers’ Agent (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as such Borrower’s agent to obtain Credit Extensions, the proceeds of which shall be available to each Borrower for such uses as are permitted under this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to each Credit Party on account of Credit Extensions so made as if made directly by the applicable Credit Party to such Borrower, notwithstanding the manner by which such Credit Extensions are recorded on the books and records of the Lead Borrower and of any other Borrower. In addition, each Loan Party other than the Borrowers hereby irrevocably designates and appoints the Lead Borrower as such Loan Party’s agent to represent such Loan Party in all respects under this Agreement and the other Loan Documents.

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