Agent as Joint Creditor Sample Clauses

Agent as Joint Creditor. The parties hereto agree that the Agent ----------------------- shall be the joint and several creditor (together with each Lender or Affiliate of a Lender) of each and every Obligation or Rate Hedging Obligation, if any, payable by the Company or any of its Subsidiaries to such Lender or such Affiliate of a Lender under any Loan Documents, so that accordingly the Agent will have its own independent right to demand performance by the Company or such of its Subsidiaries of such Obligation or Rate Hedging Obligation, as the case may be, and such Obligation or Rate Hedging Obligation, as the case may be, will be discharged by and to the extent of any discharge thereof either to the Agent or to the relevant Lender or Affiliate of a Lender, as the case may be.
Sample 1
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Agent as Joint Creditor. (a) Each of the Credit Parties and each of the Lenders agree that Agent shall be the joint creditor (together with the relevant Lender) of each and every Obligation of any Credit Party towards each and any of the Lenders under the Loan Documents, and that accordingly Agent shall have its own independent right to demand performance by such Credit Party of those Obligations when due. Any discharge of any Obligation to Agent shall, to the same extent, discharge the corresponding obligation owing to the Lenders. (b) Without limiting or affecting Agent's rights against any Credit Party (whether under this paragraph or under any other provision of the Loan Documents), Agent agrees with each Lender, severally but not jointly, that it shall exercise its rights as a joint creditor with respect to the security interest granted under the Loan Documents in accordance with the Credit Agreement and such Loan Documents. However, nothing in the previous sentence shall limit to any extent Agent's rights in whatever capacity to take any action to protect or preserve any rights under any Loan Document or to enforce any security interest created thereby as contemplated by the Credit Agreement and the Loan Documents (or to do any act reasonably incidental to the foregoing). (c) This Section 9.10 applies unless Agent specifies that it shall not apply in relation to a specific Credit Party or all Credit Parties incorporated in a particular jurisdiction.
Sample 1
Agent as Joint Creditor. (a) Each of the Companies and the Guarantors (collectively, the “Obligors”) and each of the Banks agree that the Agent shall be the joint creditor (together with the relevant Bank) of each and every obligation of any Obligor towards each of the Banks under this Agreement, and that accordingly the Agent will have its own independent right to demand performance by the relevant Obligor of those obligations. However, any discharge of any such obligation to one of the Agent or the relevant Bank shall, to the same extent, discharge the corresponding obligation owing to the other. (b) Without limiting or affecting the Agent’s rights against any Obligor (whether under this paragraph or under any other provision of the Loan Documents), the Agent agrees with each other Bank (on a several and divided basis) that, subject as set out in the next sentence, it will not exercise its rights as a joint creditor with a Bank except with the consent of the relevant Bank. However, for the avoidance of doubt, nothing in the previous sentence shall in any way limit the Agent’s right to act in the protection or preservation of rights under or to enforce any Support Document as contemplated by this Agreement, the other Loan Documents and/or the relevant Support Document (or to do any act reasonably incidental to any of the foregoing). In furtherance of the foregoing, each Bank hereby (a) ratifies (i) the Spanish notarial policy (“poliza intervenida”) of guarantee granted by Danka Office Imaging, S.A. and intervened by the Spanish Notary public, Xxxxxx Xxxxx Xxxxxxx on 00xx Xxxxxx, 0000, (xx) the Spanish notarial policy (“poliza intervenida”) of guarantee granted by Danka Holdings Iberia, S.A. and intervened by the Spanish Notary public, Xxxxxx Xxxxx Alberdi on 10th August, 2001, and (iii) Spanish notarial policy (“poliza intervenida”) of pledge of shares of Danka Office Imaging, S.A. granted by Danka Holdings Iberia, S.A. and intervened by the Spanish Notary public, Xxxxxx Xxxxx Xxxxxxx on 10th August, 2001, and (b) authorizes the Agent to enforce such Support Documents on behalf of each Bank.
Sample 1
Agent as Joint Creditor. (a) Each of the Credit Parties and each of the Lenders agree that Agent shall be the joint creditor (together with the relevant Lender) of each and every Obligation of any Credit Party towards each and any of the Lenders under the Loan Documents, and that accordingly Agent shall have its own independent right to demand performance by such Credit Party of those Obligations when due. Any discharge of any Obligation to Agent shall, to the same extent, discharge the corresponding obligation owing to the Lenders. (b) Without limiting the generality of sub-paragraph (a) above, for the purpose of creating a solidarité active in accordance with Article 1541 of the Civil Code of Quebec, between each Lender, taken individually, on the one hand, and the Agent, on the other hand, each Credit Party and each such Lender acknowledge and agree with the Agent that such Lender and the Agent are hereby conferred the legal status of solidary creditors of each Credit Party in respect of all Obligations, present and future, owed by each Credit Party to each such Lender and the Agent (collectively, the “Solidary Claim”). Accordingly, but subject (for the avoidance of doubt) to Article 1542 of the Civil Code of Quebec, each Credit Party is irrevocably bound towards the Agent and each Lender with respect to the amount of the entire Solidary Claim owed by it. As a result of the foregoing, the parties hereto acknowledge that the Agent and each Lender shall at all times have a valid and effective right of action for the entire Solidary Claim of the Agent and such Lender and the right to give full acquittance for it. Accordingly, without limiting the generality of the foregoing, the Agent, as solidary creditor with each Lender, shall at all times have a valid and effective right of action in respect of all Obligations, present and future, owed by each Credit Party to the Agent and to the Lender or any of them and the right to give a full acquittance for same. The parties further agree and acknowledge that the Agent’s Liens on the Collateral shall be granted to the Agent, for its own benefit and for the benefit of the Lenders. (c) Without limiting or affecting Agent’s rights against any Credit Party (whether under this paragraph or under any other provision of the Loan Documents), Agent agrees with each Lender, severally but not jointly, that it shall exercise its rights as a joint creditor with respect to the security interest granted under the Loan Documents in accordance with the Cr...
Sample 1
Agent as Joint Creditor. (a) Each of the Companies and the Guarantors (collectively, the "Obligors") and each of the Banks agree that the Agent shall be the joint creditor (together with the relevant Bank) of each and every obligation of any Obligor towards each of the Banks under this Agreement, and that accordingly the Agent will have its own independent right to demand performance by the relevant Obligor of those obligations. However, any discharge of any such obligation to one of the Agent or the relevant Bank shall, to the same extent, discharge the corresponding obligation owing to the other. (b) Without limiting or affecting the Agent's rights against any Obligor (whether under this paragraph or under any other provision of the Loan Documents), the Agent agrees with each other Bank (on a several and divided basis) that, subject as set out in the next sentence, it will not exercise its rights as a joint creditor with a Bank except with the consent of the relevant Bank. However, for the avoidance of doubt, nothing in the previous sentence shall in any way limit the Agent's right to act in the protection or preservation of rights under or to enforce any Support Document as contemplated by this Agreement, the other Loan Documents and/or the relevant Support Document (or to do any act reasonably incidental to any of the foregoing).
Sample 1

Related to Agent as Joint Creditor

  • Agent as Lender In its individual capacity, KeyBank shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, and as the holder of any of the Notes as it would have were it not also the Agent.

  • Administrative Agent as Lender The bank serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder.

  • Agent as Bank In its individual capacity, BKB shall have the same obligations and the same rights, powers and privileges in respect to its Commitment and the Loans made by it, and as the holder of any of the Notes and as the purchaser of any Letter of Credit Participations, as it would have were it not also the Agent.

  • Administrative Agent Fee The Borrower agrees to pay to the Administrative Agent, for its own account, the fees set forth in the Agency Fee Letter and such other fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.

  • Administrative Agent Fees The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent.

  • Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders Each Lender expressly acknowledges that neither the Administrative Agent nor the Collateral Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Administrative Agent or Collateral Agent hereinafter taken, including any review of the affairs of the Borrower, any Guarantor or any other Credit Party, shall be deemed to constitute any representation or warranty by the Administrative Agent or Collateral Agent to any Lender, the Swingline Lender or any Letter of Credit Issuer. Each Lender, the Swingline Lender and each Letter of Credit Issuer represents to the Administrative Agent and the Collateral Agent that it has, independently and without reliance upon the Administrative Agent, Collateral Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Borrower, Guarantor and other Credit Party and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Administrative Agent, Collateral Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Credit Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Borrower, any Guarantor and any other Credit Party. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, neither the Administrative Agent nor the Collateral Agent shall have any duty or responsibility to provide any Lender with any credit or other information concerning the business, assets, operations, properties, financial condition, prospects or creditworthiness of the Borrower, any Guarantor or any other Credit Party that may come into the possession of the Administrative Agent or Collateral Agent any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

  • Possessory Collateral Agent as Gratuitous Bailee for Perfection (a) The Applicable Authorized Representative agrees to hold any Shared Collateral constituting Possessory Collateral that is part of the Shared Collateral in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee and agent for the benefit of each other First Lien Secured Party and any assignee solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions of this Section 2.09; provided that at any time after the Discharge of the First Lien Obligations of the Series for which the Applicable Authorized Representative is acting, the Applicable Authorized Representative shall (at the sole cost and expense of the Grantors), promptly deliver all Possessory Collateral to the Applicable Authorized Representative (after giving effect to the Discharge of such First Lien Obligations) together with any necessary endorsements reasonably requested by the Applicable Authorized Representative (or make such other arrangements as shall be reasonably requested by the Applicable Authorized Representative to allow the Applicable Authorized Representative to obtain control of such Possessory Collateral). Pending delivery to the Applicable Authorized Representative, each other Collateral Agent agrees to hold any Shared Collateral constituting Possessory Collateral, from time to time in its possession, as gratuitous bailee and agent for the benefit of each other First Lien Secured Party and any assignee, solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable First Lien Security Documents, in each case, subject to the terms and conditions of this Section 2.09. (b) The duties or responsibilities of the Applicable Authorized Representative and each other Collateral Agent under this Section 2.09 shall be limited solely to holding any Shared Collateral constituting Possessory Collateral as gratuitous bailee and agent for the benefit of each other First Lien Secured Party for purposes of perfecting the Lien held by such First Lien Secured Parties therein.

  • Administrative Agent’s Fee The Borrower shall pay to the Administrative Agent for its own account fees in the amounts and at the times previously agreed upon between the Borrower and the Administrative Agent.

  • Reliance by Administrative Agent, L/C Issuer and Lenders The Administrative Agent, the L/C Issuer and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

  • Agents as Lenders Each bank serving as an Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder.

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