Administrative Agent as Lender, etc Clause Samples
The "Administrative Agent as Lender" clause defines the circumstances under which the administrative agent in a loan agreement may also act as a lender or hold a direct financial interest in the loan. In practice, this means that the administrative agent, who is typically responsible for managing the loan on behalf of all lenders, can also participate in the lending group and have the same rights and obligations as any other lender. This arrangement clarifies the dual role of the administrative agent, ensuring that their participation as a lender does not create conflicts of interest or affect their administrative duties. The core function of this clause is to provide transparency and prevent disputes by explicitly addressing the agent's potential dual capacity.
Administrative Agent as Lender, etc. In its individual capacity, Bank of America shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, and as the holder of any of the Notes, as the purchaser of participations in Swing Line Loans and as the purchaser of any Letter of Credit Participations, as it would have were it not also the Administrative Agent. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. Neither the Syndication Agent nor the Co-Agent shall have any right, power, obligation, liability, responsibility or duty under the Credit Agreement in such capacity, other than those applicable to all Lenders as Lenders. The Arranger shall not have any right, power, obligation, liability, responsibility or duty under the Credit Agreement in such capacity.
Administrative Agent as Lender, etc. In its individual capacity, Bank of America shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, and as the holder of any of the Notes and as the purchaser of any Letter of Credit Participations, as it would have were it not also the Administrative Agent. None of the Documentation Agents or Syndication Agents shall have any obligation, liability, responsibility or duty under this Credit Agreement or the other Loan Documents other than as a Lender hereunder.
Administrative Agent as Lender, etc. In its individual capacity, LCPI shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, as it would have were it not also the Administrative Agent. None of the Co-Syndication Agents or the Arranger shall have any obligation, liability, responsibility or duty under this Credit Agreement other than as a Lender hereunder.
Administrative Agent as Lender, etc. In its individual capacity, ▇▇▇▇▇ Fargo shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, and as the holder of any of the Notes, as it would have were it not also the Administrative Agent.