Agent May Act Clause Samples

The "Agent May Act" clause defines the authority granted to an agent to perform actions on behalf of a principal within the scope of their agreement. This typically means the agent can make decisions, enter into contracts, or carry out transactions as authorized, such as negotiating deals or signing documents for the principal. The core function of this clause is to clarify the agent's powers and ensure that third parties understand the agent's legal ability to act, thereby reducing uncertainty and facilitating smooth business operations.
Agent May Act. Each Agent may make loans to, accept deposits from and generally engage in any kind of business with MBIA, all as though it were not an Agent hereunder. The terms “Banks” and “Majority Banks” and any similar terms shall include each Agent in its individual corporate capacity as a Bank or one of the Majority Banks.
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Agent May Act. If Assignor fails to comply with any of its obligations hereunder, Agent may do so in Assignor’s name or in Agent’s name to the extent permitted by applicable law, but at Assignor’s expense, and Assignor hereby agrees to reimburse Agent in full for all reasonable expenses, including, without limitation, reasonable attorneys’ fees, incurred by Agent in protecting, defending or maintaining the value of the LLC Interest.
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Agent May Act. The Administrative Agent may make loans to, accept deposits from and generally engage in any kind of business with the Borrower, all as though it were not Administrative Agent hereunder. The terms “Lenders” and “Majority Lenders” and any similar terms shall include the Administrative Agent in its individual corporate capacity as a Lender or one of the Majority Lenders.
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Agent May Act. The Agent may, in its discretion, for the account and expense of the Grantors, pay any amount or do any act required of the Grantors hereunder 175 or reasonably requested by the Secured Parties to preserve, protect, maintain or enforce the Obligations, the Collateral or the first priority Lien granted herein (subject only to Permitted Liens), and which the Grantors fail to do or pay within any applicable grace period provided for in the Loan Documents (it being understood that no grace period exists for the maintenance of insurance required by Section 11), and any such payment shall be deemed an advance by the Lenders to the Grantors and shall be payable on demand together with interest at the Default Rate, and shall constitute part of the Obligations; provided, however, that this provision shall not impair the Grantors' rights to contest Liens as provided in Section 8.4 of the Credit Agreement.
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Agent May Act. In the event such Grantor (i) shall fail to maintain, or fail to cause to be maintained, the full insurance coverage required hereunder or (ii) shall fail to keep any of its Collateral in good repair and good operating condition subject to ordinary wear and tear (and in the case of an Aircraft or Engine subject to a Lease or Carrier Loan Document, such failure to maintain in good repair amounts to a default under such Lease or Carrier Loan Document), then the Agent may (but shall be under no obligation to), without waiving or
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Related to Agent May Act

  • Compliance with Investment Company Act The business and other activities of the Borrower and its Subsidiaries, including the making of the Loans hereunder, the application of the proceeds and repayment thereof by the Borrower and the consummation of the Transactions contemplated by the Loan Documents do not result in a violation or breach in any material respect of the provisions of the Investment Company Act or any rules, regulations or orders issued by the Securities and Exchange Commission thereunder, in each case that are applicable to the Borrower and its Subsidiaries.

  • ▇▇▇▇▇▇ Act Any provisions required to be contained in this Agreement by Section 126 and/or Section 130-k or Article 4-A of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition to those conferred or imposed by this Agreement; provided, however, that to the extent that such Section 126 and/or 130-k shall not have any effect, and if said Section 126 and/or Section 130-k should at any time be repealed or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, said Section 126 and/or Section 130-k shall cease to have any further effect upon the provisions of this Agreement. In a case of a conflict between the provisions of this Agreement and any mandatory provisions of Article 4-A of the New York Real Property Law, such mandatory provisions of said Article 4-A shall prevail, provided that if said Article 4-A shall not apply to this Agreement, should at any time be repealed, or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, such mandatory provisions of such Article 4-A shall cease to have any further effect upon the provisions of this Agreement.

  • Margin Regulations; Investment Company Act (a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. (b) None of the Borrower, any Person Controlling the Borrower, or any Subsidiary is or is required to be registered as an “investment company” under the Investment Company Act of 1940.

  • ▇▇▇▇▇ Act Subrecipient agrees that no funds provided, nor personnel employed under this Contract, shall be in any way or to any extent engaged in the conduct of political activities in violation of the Hatch Act, 5 U.S.C. Section 1501 et seq. and Chapter 15 of Title V of the U.S.C.

  • IRAN DIVESTMENT ACT By entering into this Agreement, Contractor certifies in accordance with State Finance Law §165-a that it is not on the “Entities Determined to be Non-Responsive Bidder/Offerer pursuant to the New York State Iran Divestment Act of 2012” (“Prohibited Entities List”) posted at: ▇▇▇▇://▇▇▇.▇▇▇.▇▇.▇▇▇/about/regs/docs/ListofEntities.pdf Finance Law §165-a) is in violation of the above- referenced certifications, the state agency will review such information and offer the person an opportunity to respond. If the person fails to demonstrate that it has ceased its engagement in the investment activity which is in violation of the Act within 90 days after the determination of such violation, then the state agency shall take such action as may be appropriate and provided for by law, rule, or contract, including, but not limited to, imposing sanctions, seeking compliance, recovering damages, or declaring the Contractor in default. The state agency reserves the right to reject any bid, request for assignment, renewal or extension for an entity that appears on the Prohibited Entities List prior to the award, assignment, renewal or extension of a contract, and to pursue a responsibility review with respect to any entity that is awarded a contract and appears on the Prohibited Entities list after contract award. Contractor further certifies that it will not utilize on this Contract any subcontractor that is identified on the Prohibited Entities List. Contractor agrees that should it seek to renew or extend this Contract, it must provide the same certification at the time the Contract is renewed or extended. Contractor also agrees that any proposed Assignee of this Contract will be required to certify that it is not on the Prohibited Entities List before the contract assignment will be approved by the State. During the term of the Contract, should the state agency receive information that a person (as defined in State GENERAL PAGE 1. Ethics Compliance 1 2. Definitions 1-2