Common use of Administrative Agent Individually Clause in Contracts

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 10 contracts

Samples: Credit Agreement (WPX Energy, Inc.), Credit Agreement (WPX Energy, Inc.), Credit Agreement (Williams Companies Inc)

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Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower Borrowers or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 10 contracts

Samples: Credit Agreement (Williams Companies, Inc.), Credit Agreement (Williams Companies Inc), Credit Agreement (Williams Partners L.P.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 11.2 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 9 contracts

Samples: Credit Agreement (Toll Brothers, Inc.), Credit Agreement (Toll Brothers, Inc.), Credit Agreement (Toll Brothers, Inc.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party or an Issuing Bank as any other Lender Party or Issuing Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Loan Parties 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 Lender PartiesLenders. (b) Each Lender Party and each Issuing Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as collectively, the “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Loan Parties or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party and each Issuing Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or any Issuing Bank or use on behalf of the Lender PartiesLenders or the Issuing Banks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof its Affiliates) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party and each Issuing Bank such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders and the Issuing Banks. (c) Each Lender Party and each Issuing Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders or the Issuing Banks (including the interests of the Lender Parties Lenders or the Issuing Banks hereunder and under the other Loan Documents). Each Lender Party and each Issuing Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Partyor any Issuing Bank. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party or any Issuing Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 8 contracts

Samples: Credit Agreement (Blackstone Inc.), Credit Agreement (Blackstone Inc.), Credit Agreement (Blackstone Group Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent Agent, and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the a 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 5 contracts

Samples: Senior Secured Credit Agreement (SLR Investment Corp.), Senior Secured Credit Agreement (SLR Investment Corp.), Senior Secured Credit Agreement (Solar Capital Ltd.)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 US Borrower or any Subsidiary or other Affiliate thereof as if such Person person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each US Lender Party understands that the Person person serving as the Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 13.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower US Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each US Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the US Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any US Lender Party or use on behalf of the US Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each US Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the US Lender Parties. (c) Each US Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the US Lender Parties (including the interests of the US Lender Parties hereunder and under the other Loan Documents). Each US Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any US Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any US Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 4 contracts

Samples: Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender PartiesLender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Harsco Corp), Credit Agreement (Harsco Corp), Credit Agreement (Harsco Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent Agent; and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Administrative Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Administrative Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Administrative Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Banks that are not members of the Administrative Agent’s Group. None of the Administrative Agent nor any member of the Administrative Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Administrative Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties hereunder and under the other Loan DocumentsBanks hereunder). Each Lender Party Bank agrees that no member of the Administrative Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Administrative Agent’s Group, and that each member of the Administrative Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan Documentor the Notes, (ii) the receipt by the Administrative Agent’s Group of information (including Informationthe Information Memorandum) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Administrative Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Administrative Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 3 contracts

Samples: Credit Agreement (Caterpillar Inc), Credit Agreement (Caterpillar Inc), Credit Agreement (Caterpillar Financial Services Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender PartiesLender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Co-Borrower or any of their respective Subsidiaries or other Affiliate thereof Affiliates as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative an Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.2 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower, any Co-Borrower or its any of their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower, any Co-Borrower and its their respective Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower, any Co-Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower, any Co-Borrower or its their respective Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower, any Co-Borrower or its their respective Affiliates (including information concerning the ability of the Borrower or any Co-Borrower to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative No Agent nor or any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereofCo-Borrower or any of their respective Affiliates) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative such Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative such Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower, any Co-Borrower and its their respective Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative an Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower, any Co-Borrower or its their respective Affiliates (including information concerning the ability of the Borrower or any Co-Borrower to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative any Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower, any Co-Borrower or its their respective Affiliates) or for its own account.

Appears in 3 contracts

Samples: Credit Agreement (MEADWESTVACO Corp), Credit Agreement (MEADWESTVACO Corp), Credit Agreement (MEADWESTVACO Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 10.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or and its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or and its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 3 contracts

Samples: Term Credit Agreement (Aon Corp), Senior Bridge Term Loan Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 3 contracts

Samples: Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP), Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP), Senior Secured Debtor in Possession Credit Agreement (Chemtura CORP)

Administrative Agent Individually. (a) The Any Person serving as the Administrative an Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative an Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative an Agent hereunder in its individual capacitycapacity as a Bank. 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 any Loan Party or any Subsidiary or other Affiliate affiliate thereof as if such Person were not the Administrative an Agent hereunder and without any duty to account therefor to the Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative an Agent, acting in its individual capacity, and its Affiliates affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one the Loan Parties or more of the Borrower or its respective Affiliatestheir affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its Affiliates their affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower any Loan Party or its respective Affiliatesaffiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower any Loan Party or its Affiliatesaffiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower a Loan Party or its Affiliates affiliates (including information concerning the ability of the Borrower a Loan Party to perform its obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower a Loan Party and its Affiliatesaffiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties hereunder and under the other Loan DocumentsBanks hereunder). Each Lender Party Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan DocumentAgreement, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower a Loan Party or its Affiliates affiliates (including information concerning the ability of the Borrower such Loan Party to perform its obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 2 contracts

Samples: Credit Agreement (Avon Products Inc), Revolving Credit Agreement (Avon Products Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any Loan Party 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Administrative Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 13.1 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Administrative Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Administrative Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their respective obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Banks that are not members of the Administrative Agent’s Group. None of the Administrative Agent nor any member of the Administrative Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Administrative Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties Banks hereunder and under the other Loan Documents). Each Lender Party Bank agrees that no member of the Administrative Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Administrative Agent’s Group, and that each member of the Administrative Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Credit Agreement nor any other Loan Document, (ii) the receipt by the Administrative Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Administrative Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Administrative Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Alliancebernstein L.P.), Revolving Credit Agreement (Alliancebernstein Holding L.P.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Company 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Administrative Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Administrative Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Company or another Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Administrative Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Lenders that are not members of the Administrative Agent’s Group. None of Neither the Administrative Agent nor any member of the Administrative Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Administrative Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties hereunder and under the other Loan DocumentsLenders hereunder). Each Lender Party agrees that no member of the Administrative Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Administrative Agent’s Group, and that each member of the Administrative Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan DocumentAgreement, (ii) the receipt by the Administrative Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) nor or (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Administrative Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Administrative Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 2 contracts

Samples: Credit Agreement (Black & Decker Corp), Credit Agreement (Black & Decker Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Revolving Lender Party as any other Revolving Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyRevolving Lender” or “Lender PartiesRevolving Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any Parent Company, 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 Lender PartiesRevolving Lenders. (b) Each Revolving Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as businesses, collectively, the “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Credit Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Credit Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Credit Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Credit Parties or its their Affiliates. Each Revolving Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its obligations their respective Obligations hereunder and under the other Loan Credit Documents) which information may not be available to any of the Lender Parties Revolving Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Revolving Lender Party or use on behalf of the Lender PartiesRevolving Lenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Credit Party or any Affiliate thereofof any Credit Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Revolving Lender Party such documents as are expressly required by any Loan Credit Document to be transmitted by the Administrative Agent to the Lender PartiesRevolving Lenders. (c) Each Revolving Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Credit Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Revolving Lenders (including the interests of the Lender Parties Revolving Lenders hereunder and under the other Loan Credit Documents). Each Revolving Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyRevolving Lender. None of (i) this Credit Agreement nor any other Loan Credit Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its obligations their respective Obligations hereunder and under the other Loan Credit Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Revolving Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Credit Parties or its their Affiliates) or for its own account. (d) In the event that Citibank or any of its Affiliates shall be or become an indenture trustee under the Trust Indenture Act of 1939 (as amended, the “Trust Indenture Act”) in respect of any securities issued or guaranteed by any Credit Party, the parties hereto acknowledge and agree that any payment or property received in satisfaction of or in respect of any Obligation of such Credit Party hereunder or under any other Credit Document by or on behalf of Citibank in its capacity as the Administrative Agent for the benefit of any Revolving Lender under any Credit Document (other than Citibank or an Affiliate of Citibank) and which is applied in accordance with the Credit Documents shall be deemed to be exempt from the requirements of Section 311 of the Trust Indenture Act pursuant to Section 311(b)(3) of the Trust Indenture Act.

Appears in 2 contracts

Samples: Credit Agreement (Directv), Credit Agreement (Directv)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” "Bank" or “Lender Parties” "Banks" shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the "Agent’s 's Group") are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as "Activities") and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s 's Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s 's Group may receive or otherwise obtain information (other than information required to be delivered by the Administrative Agent to the Banks pursuant to this Agreement) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s 's Group. None of the Administrative Agent nor any member of the Agent’s 's Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required and provide such notifications as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s 's Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties Banks hereunder and under the other Loan Documents). Each Lender Party Bank agrees that no member of the Agent’s 's Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s 's Group, and that each member of the Agent’s 's Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s 's Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s 's Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s 's Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account, except that the Administrative Agent shall perform all of its obligations that are expressly required by this Agreement or any other Loan Document to which it is a party.

Appears in 2 contracts

Samples: Credit Agreement (Ensco PLC), 364 Day Credit Agreement (Ensco PLC)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Company 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Company, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor or any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor or any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor or (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 2 contracts

Samples: Credit Agreement (Stanley Black & Decker, Inc.), 364 Day Credit Agreement (Stanley Works)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person person serving as the Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 2 contracts

Samples: Credit Agreement (Nabors Industries LTD), Credit Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person person serving as the Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 13.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Term Loan Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Williams Partners L.P.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Revolving Lender Party as any other Revolving Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyRevolving Lender” or “Lender PartiesRevolving Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesRevolving Lenders. (b) Each Revolving Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as businesses, collectively, the “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Credit Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Credit Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Credit Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Credit Parties or its their Affiliates. Each Revolving Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its obligations their respective Obligations hereunder and under the other Loan Credit Documents) which information may not be available to any of the Lender Parties Revolving Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Revolving Lender Party or use on behalf of the Lender PartiesRevolving Lenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Credit Party or any Affiliate thereofof any Credit Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Revolving Lender Party such documents as are expressly required by any Loan Credit Document to be transmitted by the Administrative Agent to the Lender PartiesRevolving Lenders. (c) Each Revolving Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Credit Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Revolving Lenders (including the interests of the Lender Parties Revolving Lenders hereunder and under the other Loan Credit Documents). Each Revolving Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyRevolving Lender. None of (i) this Credit Agreement nor any other Loan Credit Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its obligations their respective Obligations hereunder and under the other Loan Credit Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Revolving Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Credit Parties or its their Affiliates) or for its own account. (d) In the event that Citibank or any of its Affiliates shall be or become an indenture trustee under the Trust Indenture Act of 1939 (as amended, the “Trust Indenture Act”) in respect of any securities issued or guaranteed by any Credit Party, the parties hereto acknowledge and agree that any payment or property received in satisfaction of or in respect of any Obligation of such Credit Party hereunder or under any other Credit Document by or on behalf of Citibank in its capacity as the Administrative Agent for the benefit of any Revolving Lender under any Credit Document (other than Citibank or an Affiliate of Citibank) and which is applied in accordance with the Credit Documents shall be deemed to be exempt from the requirements of Section 311 of the Trust Indenture Act pursuant to Section 311(b)(3) of the Trust Indenture Act.

Appears in 1 contract

Samples: Credit Agreement (Directv Holdings LLC)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Parent 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Parent or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Parent and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Parent or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Parent or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Parent or its Affiliates (including information concerning the ability of the Borrower Parent to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower Parent or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Parent and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Parent or its Affiliates (including information concerning the ability of the Borrower Parent to perform its obligations hereunder and under the other Loan Documents) nor or (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including including, without limitation limitation, any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Parent or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent Agent, and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Guarantor, 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, the Guarantor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities Activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, Group and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account. (d) In the event that JPMorgan or any of its Affiliates shall be or become an indenture trustee under the Trust Indenture Act of 1939 (as amended, the “Trust Indenture Act”) in respect of any securities issued or guaranteed by any Obligor, the parties hereto acknowledge and agree that any payment or property received in satisfaction of or in respect of any obligation of such Obligor hereunder or under any other Loan Document by or on behalf of JPMorgan in its capacity as the Administrative Agent for the benefit of any Lender under any Loan Document (other than JPMorgan or an Affiliate of JPMorgan) and which is applied in accordance with the Loan Documents shall be deemed to be exempt from the requirements of Section 311 of the Trust Indenture Act pursuant to Section 311 (b)(3) of the Trust Indenture Act.

Appears in 1 contract

Samples: 364 Day Senior Unsecured Bridge Loan Agreement (Tyco International LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money make loans and other extensions of credit to, act as the financial advisor or in any other advisory capacity for acquire Stock and generally Stock Equivalents of, engage in any kind of business with the Borrower with, any Loan Party or any Subsidiary or other Affiliate thereof as if such Person though it were not acting as Administrative Agent and may receive separate fees and other payments therefor. Without limiting the foregoing, the Administrative Agent hereunder and without any duty to account therefor to the Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectivelymay receive fees, charges and expenses in respect of Secured Hedging Support Documents or the “Agent’s Group”) are engaged in a wide range arrangement of financial services Interest Rate Contracts and businesses (including investment managementother transactions supported by Secured Hedging Support Documents; provided, financinghowever, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower that GE Capital and its Affiliates shall look to the beneficiary of a Secured Hedging Support Document for payment of such fees, charges and including holdingexpenses, for its own account or on behalf of othersand such beneficiary may factor such fees, equity, debt charges and similar positions in expenses into the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more pricing of the Borrower or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial Interest Rate Contracts and other condition or creditworthiness of transactions supported by such Secured Hedging Support Document. To the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by extent the Administrative Agent or any member of its Affiliates makes any Loan or otherwise becomes a Lender hereunder, it shall have and may exercise the same rights and powers hereunder and shall be subject to the same obligations and liabilities as any other Lender and the terms “Lender”, “Revolving Credit Lender”, “Term B Loan Lender”, “Required Lender”, “Required Revolving Credit Lender” and “Required Term B Loan Lender” and any similar terms shall, except where otherwise expressly provided in any Loan Document, include, without limitation, the Administrative Agent or such Affiliate, as the case may be, in its individual capacity as Lender, Revolving Credit Lender, Term B Loan Lender or as one of the Agent’s Group to any Lender Party including any such duty that would prevent Required Lenders, Required Revolving Credit Lenders or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own accountRequired Term B Loan Lenders respectively.

Appears in 1 contract

Samples: Credit Agreement (Beacon Roofing Supply Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent Agent, and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the a 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 therefore to the Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Solar Capital Ltd.)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information (other than information required to be delivered by the Administrative Agent to the Banks pursuant to this Agreement) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required and provide such notifications as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties Banks hereunder and under the other Loan Documents). Each Lender Party Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account, except that the Administrative Agent shall perform all of its obligations that are expressly required by this Agreement or any other Loan Document to which it is a party.

Appears in 1 contract

Samples: Credit Agreement (Ensco PLC)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person person serving as Administrative Agent, acting in its individual capacity, and it and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02(b) as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower obligors or its their Affiliates (including information concerning the ability of the Borrower obligors to perform its their respective obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not or be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereofof the Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document hereby to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties hereunder and under the other Loan DocumentsLenders hereunder). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan DocumentAgreement, (ii) the receipt by the Agent’s Group of information (including Confidential Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Bridge Term Loan Credit Agreement (Laboratory Corp of America Holdings)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Term Lender Party as any other Term Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyTerm Lender” or “Lender PartiesTerm Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesTerm Lenders. (b) Each Term Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or its Affiliates. Each Term Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Term Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Term Lender Party or use on behalf of the Lender PartiesTerm Lenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Term Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesTerm Lenders. (c) Each Term Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Term Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Term Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyTerm Lender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Term Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Williams Partners L.P.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Company 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Company, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) 364-DAY CREDIT AGREEMENT which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor or any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor or any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor or (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Stanley Black & Decker, Inc.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Loan Parties 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as collectively, the “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Loan Parties or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof its Affiliates) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its their obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Blackstone Group L.P.)

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Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Parent 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 10.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Parent or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Parent and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Parent or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or Parent and its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or Parent and its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower Parent or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Parent and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Parent or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Parent or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Term Credit Agreement (Aon Corp)

Administrative Agent Individually. (a) The Each Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person respective Persons serving as the Administrative Agent, Syndication Agent, Documentation Agent and Joint Lead Arrangers and Bookrunners, acting in its their individual capacitycapacities, and its their respective Affiliates (collectively, the “Agent’s GroupAgents’ Groups”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group Agents’ Groups may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their respective own account accounts or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its their respective own account accounts or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group Agents’ Groups may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s GroupAgents’ Groups. None of the Administrative Agent nor any member members of the Agent’s Group Agents’ Groups shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and none of the members of the Agents’ Group shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or required to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group Agents’ Groups or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group Agents’ Groups is or shall be required to restrict its activities as a result of the Person serving as the Administrative Agent, Syndication Agent, Documentation Agent or Joint Lead Arranger and Bookrunner being a member of the Agent’s GroupAgents’ Groups, and that each member of the Agent’s Group Agents’ Groups may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group Agents’ Groups of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group Agents’ Groups to any Lender Party including any such duty that would prevent or restrict the Agent’s Group Agents’ Groups from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its their respective own accountaccounts.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information (other than information required to be delivered by the Administrative Agent to the Banks pursuant to this Agreement) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required and provide such notifications as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties Banks hereunder and under the other Loan Documents). Each Lender Party Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account, except that the Administrative Agent shall perform all of its obligations that are expressly required by this Agreement or any other Loan Document to which it is a party.

Appears in 1 contract

Samples: Commitment Agreement and Fifth Amendment to Fourth Amended and Restated Credit Agreement (Ensco PLC)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent Agent; and the term “Lender Party” �Bank� or “Lender Parties” �Banks� shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers 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 Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the �Administrative Agent’s �s Group) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as Activities) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Administrative Agent’s �s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrowers or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Administrative Agent’s �s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Banks that are not members of the Administrative Agent’s �s Group. None of the Administrative Agent nor any member of the Administrative Agent’s �s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Administrative Agent’s �s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties hereunder and under the other Loan DocumentsBanks hereunder). Each Lender Party Bank agrees that no member of the Administrative Agent’s �s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Administrative Agent’s �s Group, and that each member of the Administrative Agent’s �s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan Documentor the Notes, (ii) the receipt by the Administrative Agent’s �s Group of information (including Informationthe Information Memorandum) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Administrative Agent’s �s Group to any Lender Party Bank including any such duty that would prevent or restrict the Administrative Agent’s �s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Caterpillar Financial Services Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Credit Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (AMC Networks Inc.)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that the Person person serving as the Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Term Loan Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacitycapacity as a Bank. 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 any Borrower or any Subsidiary or other Affiliate affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one the Borrowers or more of the Borrower or its respective Affiliatestheir affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its Affiliates their affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower or its respective Affiliatesaffiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the any Borrower or its Affiliatesaffiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the a Borrower or its Affiliates affiliates (including information concerning the ability of the a Borrower to perform its obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the a Borrower and its Affiliatesaffiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties hereunder and under the other Loan DocumentsBanks hereunder). Each Lender Party Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan DocumentAgreement, (ii) the receipt by the Agent’s Group of information (including Information) concerning the a Borrower or its Affiliates affiliates (including information concerning the ability of the such Borrower to perform its obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Revolving Credit and Competitive Advance Facility Agreement (Avon Products Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any Borrower or any Subsidiary or other Affiliate thereof of any Borrower as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.2 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in any of the Borrower Borrowers or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit and Security Agreement (Tousa Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Loan Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Loan Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Loan Party or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Loan Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Loan Party or any Affiliate thereofof any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Loan Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Loan Parties or its their Affiliates (including information concerning the ability of the Borrower Loan Parties to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Loan Parties or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Cablevision Systems Corp /Ny)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.its

Appears in 1 contract

Samples: Credit Agreement (Williams Partners L.P.)

Administrative Agent Individually. (a) The Person person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person each person serving as the Administrative Agent hereunder in its individual capacity. Such Person 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 US Borrower or any Subsidiary or other Affiliate thereof as if such Person person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each US Lender Party understands that the Person person serving as the Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 13.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower US Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each US Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the US Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any US Lender Party or use on behalf of the US Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each US Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the US Lender Parties. (c) Each US Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the US Lender Parties (including the interests of the US Lender Parties hereunder and under the other Loan Documents). Each US Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any US Lender Party. None of (ii)(i) this Agreement nor any other Loan Document, (iiii)(ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iiiiii)(iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any US Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Nabors Industries LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender Parties. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Williams Partners L.P.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 10.2 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower or its respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower and its Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower or its respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower or and its Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower or and its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower and its Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower or its Affiliates (including information concerning the ability of the Borrower to perform its obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, fiduciary or equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower or its Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Aon Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party Bank as any other Lender Party Bank and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyBank” or “Lender PartiesBanks” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacitycapacity as a Bank. 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 any Borrower or any Subsidiary or other Affiliate affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesBanks. (b) Each Lender Party Bank understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one the Borrowers or more of the Borrower or its respective Affiliatestheir affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its Affiliates their affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower or its respective Affiliatesaffiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the any Borrower or its Affiliatesaffiliates. Each Lender Party Bank understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the a Borrower or its Affiliates affiliates (including information concerning the ability of the a Borrower to perform its obligations hereunder and under the other Loan Documentshereunder) which information may not be available to any of the Lender Parties Banks that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party Bank or use on behalf of the Lender PartiesBanks, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party Bank such documents as are expressly required by any Loan Document this Agreement to be transmitted by the Administrative Agent to the Lender PartiesBanks. (c) Each Lender Party Bank further understands that there may be situations where members of the Agent’s Group or their respective customers (including the a Borrower and its Affiliatesaffiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Banks (including the interests of the Lender Parties hereunder and under the other Loan DocumentsBanks hereunder). Each Lender Party Bank agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyBank. None of (i) this Agreement nor any other Loan DocumentAgreement, (ii) the receipt by the Agent’s Group of information (including Information) concerning the a Borrower or its Affiliates affiliates (including information concerning the ability of the such Borrower to perform its obligations hereunder and under the other Loan Documentshereunder) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party Bank including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Revolving Credit Agreement (Avon Products Inc)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender PartiesLender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Harsco Corp)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent Agent, and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the a 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 therefore to the Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, another Obligor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Solar Capital Ltd.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” "Lender" or “Lender Parties” "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Company 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the "Agent’s Group") are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as "Activities") and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Company, another Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor or any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor or any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its obligations their respective Obligations hereunder and under the other Loan Documents) nor or (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Stanley Works)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Borrowers or any Subsidiary of their Subsidiaries or other Affiliate thereof Affiliates as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lender PartiesLender. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 9.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Credit Parties or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Credit Parties and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Company or its another Credit Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Credit Parties or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its their respective obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Credit Party or any Affiliate thereof) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Credit Parties and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Credit Parties or its their Affiliates (including information concerning the ability of the Borrower Credit Parties to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Credit Parties or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (SAIC, Inc.)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent Agent, and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 Guarantor 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 Lender PartiesLenders. (b) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 7.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Obligors or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Obligors and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower Borrower, the Guarantor or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Obligors or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its obligations their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Borrower any Obligor or any Affiliate thereofof any Obligor) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Obligors and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities Activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, Group and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Obligors or its their Affiliates (including information concerning the ability of the Borrower Obligors to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Obligors or its their Affiliates) or for its own account. (d) In the event that Citibank or any of its Affiliates shall be or become an indenture trustee under the Trust Indenture Act of 1939 (as amended, the “Trust Indenture Act”) in respect of any securities issued or guaranteed by any Obligor, the parties hereto acknowledge and agree that any payment or property received in satisfaction of or in respect of any obligation of such Obligor hereunder or under any other Loan Document by or on behalf of Citibank in its capacity as the Administrative Agent for the benefit of any Lender under any Loan Document (other than Citibank or an Affiliate of Citibank) and which is applied in accordance with the Loan Documents shall be deemed to be exempt from the requirements of Section 311 of the Trust Indenture Act pursuant to Section 311 (b)(3) of the Trust Indenture Act.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (Tyco International LTD)

Administrative Agent Individually. (a) The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not the Administrative Agent and the term “Lender Party” or “Lender PartiesLender” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. 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 any 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 Lender PartiesLenders. (ba) Each Lender Party understands that the Person serving as Administrative Agent, acting in its individual capacity, and its Affiliates (collectively, the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Article VIII Section 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Borrower Borrowers or its their respective Affiliates. Furthermore, the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Borrower Borrowers and its their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower or its their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Borrower Borrowers or its their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, the Agent’s Group may receive or otherwise obtain information concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of the Agent’s Group. None of the Administrative Agent nor any member of the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the any Borrower or any Affiliate thereofof any Borrower) or to account for any revenue or profits obtained in connection with the Activities, except that the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by the Administrative Agent to the Lender PartiesLenders. (cb) Each Lender Party further understands that there may be situations where members of the Agent’s Group or their respective customers (including the Borrower Borrowers and its their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of the Agent’s Group is or shall be required to restrict its activities as a result of the Person serving as Administrative Agent being a member of the Agent’s Group, and that each member of the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by the Agent’s Group of information (including Information) concerning the Borrower Borrowers or its their Affiliates (including information concerning the ability of the Borrower Borrowers to perform its their respective obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the Administrative Agent or any member of the Agent’s Group to any Lender Party including any such duty that would prevent or restrict the Agent’s Group from acting on behalf of customers (including the Borrower Borrowers or its their Affiliates) or for its own account.

Appears in 1 contract

Samples: Five Year Credit Agreement (Harsco Corp)

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