Common use of Agency Appointment Clause in Contracts

Agency Appointment. Each of the Syndication Parties hereby designates and appoints Agent to act as agent to service and collect the Loan and its respective Note and to take such action on behalf of such Syndication Party with respect to the Loan and such Note, and to execute such powers and to perform such duties, as specifically delegated or required herein, as well as to exercise such powers and to perform such duties as are reasonably incident thereto, and to receive and benefit from such fees and indemnifications as are provided for or set forth herein, until such time as a successor is appointed and qualified to act as Agent.

Agency Appointment. Each of the Syndication Parties hereby designates and appoints Agent to act as agent to service and collect the Loan Loans and its respective Note and to take such action on behalf of such Syndication Party with respect to the Loan Loans and such Note, and to execute such powers and to perform such duties, as specifically delegated or required herein, as well as to exercise such powers and to perform such duties as are reasonably incident thereto, and to receive and benefit from such fees and indemnifications as are provided for or set forth herein, until such time as a successor is appointed and qualified to act as Agent.