Common use of Administrative Borrower Clause in Contracts

Administrative Borrower. For purposes of this Agreement, including, Article II of this Agreement, each of the Credit Parties hereby: (i) authorizes the Administrative Borrower to make such requests, give such notices or furnish such certificates to the Agents or the Lenders as may be required or permitted by this Agreement for the benefit of such Credit Party and to give any consents on behalf of such Credit Party required by Section 10.06 of this Agreement and (ii) authorizes the Agents to treat such requests, notices, certificates or consents made, given or furnished by the Administrative Borrower as having been made, given or furnished by such Credit Party for purposes of this Agreement. Unless otherwise agreed to by the Administrative Agent, the Administrative Borrower shall be the only Person entitled to make, give or furnish such requests, notices, certificates or requests directly to the Agents or the Lenders for purposes of this Agreement. Each Credit Party agrees to be bound by all such requests, notices, certificates and consents and other such actions by the Administrative Borrower and agrees that all notices to and demands upon the Administrative Borrower in respect of any Credit Party shall constitute effective notice to and demand upon such Credit Party for all purposes hereof. In each case, the Agents and the Lenders shall be entitled to rely upon all such requests, notices, certificates and consents made, given or furnished by the Administrative Borrower pursuant to the provisions of this Agreement or any other Loan Document as being made or furnished on behalf of, and with the effect of irrevocably binding, such Credit Party.

Appears in 3 contracts

Samples: Term Loan Agreement (Vantage Drilling CO), Intercreditor Agreement (Vantage Drilling CO), Term Loan Agreement (Vantage Drilling CO)

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Administrative Borrower. For purposes of this Agreement, including, Article II of this Agreement, each of the Credit Parties hereby: (ia) authorizes the Administrative Borrower to make such requests, give such notices or furnish such certificates to the Agents or the Lenders as may be required or permitted by this Agreement for the benefit of such Credit Party Access hereby irrevocably appoints and to give any consents on behalf of such Credit Party required by Section 10.06 of this Agreement and (ii) authorizes the Agents to treat such requests, notices, certificates or consents made, given or furnished by constitutes the Administrative Borrower as having been madeits agent to request and receive Loans and Letters of Credit pursuant to this Agreement in the name or on behalf of Access. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or Access or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower as the Administrative Borrower may designate or direct, given without notice to any other Borrower or furnished Guarantor. The Administrative Borrower hereby accepts the appointment by such Access and each other Credit Party (for the purposes set forth below) to act as the agent of this AgreementAccess and agrees to ensure that the disbursement of any Loans to a Borrower requested by or paid to or for the account of such Borrower, or the issuance of any Letter of Credit for a Borrower hereunder, shall be paid to or for the account of such Borrower. Unless otherwise agreed Access and each other Credit Party hereby irrevocably appoints and constitutes the Administrative Borrower as its agent to by receive statements on account and all other notices from the Administrative Agent, Collateral Agent and the Lenders with respect to the Obligations or otherwise under or in connection with this Agreement and the other Credit Documents. Any notice, election, representation, warranty, agreement or undertaking made on behalf of any other Borrower or Credit Party by the Administrative Borrower shall be the only Person entitled to make, give or furnish such requests, notices, certificates or requests directly to the Agents or the Lenders for purposes of this Agreement. Each Credit Party agrees to be bound by all such requests, notices, certificates and consents and other such actions by the Administrative Borrower and agrees that all notices to and demands upon the Administrative Borrower in respect of any Credit Party shall constitute effective notice to and demand upon such Credit Party deemed for all purposes hereof. In each caseto have been made by such Borrower or Credit Party, as the Agents case may be, and the Lenders shall be entitled to rely binding upon all and enforceable against such requestsBorrower or such Credit Party, noticesas applicable, certificates and consents made, given or furnished by the Administrative Borrower pursuant to the provisions of this Agreement same extent as if made directly by such Borrower or any other Loan Document as being made or furnished on behalf of, and with the effect of irrevocably binding, such Credit Party.

Appears in 1 contract

Samples: Credit Agreement (STG Group, Inc.)

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