Agent for Lenders Clause Samples

The 'Agent for Lenders' clause designates a specific party, often a financial institution, to act on behalf of all lenders involved in a syndicated loan or similar financing arrangement. This agent is responsible for administering the loan, communicating with the borrower, collecting and distributing payments, and handling administrative tasks such as enforcing loan terms or managing amendments. By centralizing these functions, the clause streamlines communication and decision-making, ensuring efficiency and consistency while reducing the administrative burden and potential for disputes among multiple lenders.
Agent for Lenders. By separate agreement, the Lenders may appoint an agent to hold any Collateral and to exercise any of the remedies of Lenders under this Agreement or any of the Loan Documents. Any reference to Lenders in this Agreement shall be deemed to refer to the Agent acting in that capacity in the Loan Documents, and any reference to "Lender" in the Loan Documents shall include the Lenders as their interests may be defined in the agency agreement with the Agent.
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Agent for Lenders. The Lenders hereby appoint ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ as their agent and representative to exercise all of their rights hereunder upon the occurrence of an Event of Default including but not limited to the conversion of the Collateral as provided in this Agreement and the exercise of the Conditional Irrevocable Proxy as provided in said Conditional Irrevocable Proxy.
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Agent for Lenders. (a) Agent is hereby appointed as administrative agent hereunder and under the other Loan Documents. Agent hereby agrees to act in its capacity as such upon the express conditions contained herein and the other Loan Documents, as applicable. (b) The provisions of this Section 11.32 are solely for the benefit of the Agent and, except as set forth in Section 11.32, no Lender or Borrower Party shall have any rights as a third party beneficiary of any of the provisions hereof. In performing its functions and duties hereunder, Agent shall act solely as an agent of Lenders and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for any Borrower Party. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Legal Requirements, whether before or after an Event of Default. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. (c) Each Lender irrevocably authorizes Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Loan Documents as are specifically delegated or granted to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Agent shall have only those duties and responsibilities that are expressly specified herein and the other Loan Documents. Agent may exercise such powers, rights and remedies and perform such duties by or through its officers, directors, agents, sub-agents, employees or affiliates. For the avoidance of doubt, in performing its functions and duties hereunder, Agent does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for any Borrower Party. Without limiting the generality of the foregoing, Agent: (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing; (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Doc...
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Agent for Lenders. (See Section 1.1 for defined terms.) 06/30/99 Borrower has requested that Lenders extend credit to Borrower not to exceed a total outstanding principal amount of $20,000,000 (as that amount may be reduced or canceled pursuant to this agreement) to be used by Borrower as provided in Section 6.1 and allocated as (A) a term loan of $10,000,000 (the "Term Loan"), and (B) a revolving-credit facility of $10,000,000 (the "Revolving Facility") to be funded by Lenders from time to time on and after the Closing Date but before the Actual-Termination Date. Lenders are willing to extend the requested credit on the terms and conditions of this agreement. ACCORDINGLY, for adequate and sufficient consideration, Borrower, Lenders, and Agent agree as follows:
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Agent for Lenders. At the request of the Lenders, Rollins will execute, ackno▇▇▇▇▇▇ and deliver to such agent for the Lenders as the Lenders may designate such instruments of assignment, conveyance, mortgage and appointment, as the Lenders may request, to grant, perfect and confirm the grant, to such agent of such rights and powers referred to in Section 4.1 as the Lenders may request.
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Agent for Lenders. The recitals to the Credit Agreement are entirely amended as follows: Borrower has requested that Lenders extend credit to Borrower not to exceed a total outstanding principal amount of $20,000,000 (as that amount may be reduced or canceled pursuant to this agreement) to be used by Borrower as provided in Section 6.1 and allocated as (A) a term loan of $10,000,000 (the "Term Loan"), and (B) a revolving- credit facility of $10,000,000 (the "Revolving Facility") to be funded by Lenders from time to time on Seventh Amendment ----------------- and after the Closing Date but before the Actual-Termination Date. Lenders are willing to extend the requested credit on the terms and conditions of this agreement.
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Related to Agent for Lenders

  • Non-Reliance on Agent and Other Lenders Each Lender acknowledges that it has, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

  • Non-Reliance on Administrative Agent and Other Lenders Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

  • 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.

  • Non-Reliance on Agents and Other Lenders Each Lender expressly acknowledges that neither the Agents nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by any Agent hereafter taken, including any review of the affairs of a Loan Party or any affiliate of a Loan Party, shall be deemed to constitute any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon any 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 Loan Parties and their affiliates 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 any 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 Loan 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 Loan Parties and their affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Loan Party or any affiliate of a Loan Party that may come into the possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

  • Non-Reliance on the Administrative Agent and Other Lenders Each Lender expressly acknowledges that neither the Administrative Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by the Administrative Agent hereafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Administrative Agent to any Lender. Each Lender represents to the Administrative Agent that it has, independently and without reliance upon the Administrative 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 and its Subsidiaries and made its own decision to make its Loans and issue or participate in Letters of Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Administrative 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 Loan 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 and its Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder or by the other Loan Documents, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition or creditworthiness of the Borrower or any of its Subsidiaries which may come into the possession of the Administrative Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact, Subsidiaries or Affiliates.