Agented Loan Arrangement Sample Clauses

Agented Loan Arrangement. (a) XBC hereby designates Parent as its agent (the “Agent”) to discharge the duties and responsibilities of the Agent as provided in this Section 1.7. Except as otherwise permitted by PFG, loans hereunder shall be requested solely by the Agent as agent for each Borrower. Any Loan which may be made by PFG under this Agreement and which is directed to the Agent is received by the Agent in trust for that Borrower who is intended to receive such Loan. The Agent shall distribute the proceeds of any such Loan solely to that Borrower. Each Borrower shall be directly indebted to PFG for each Loan distributed to any Borrower by the Agent, together with all accrued interest thereon, as if that amount had been advanced directly by PFG to a Borrower (whether or not the subject Loan was based upon the assets of the Borrower which actually received such distribution), in addition to which each Borrower shall be liable to PFG for all Obligations under this Agreement, whether or not the proceeds of the Loan are distributed to any particular Borrower. PFG shall have no responsibility to inquire as to the distribution of Loans made by PFG through the Agent as described herein. (b) If Agent withdraws as Agent hereunder, or is otherwise unable to, or prohibited from carrying out its obligations as Agent under this Agreement (as determined by PFG in its reasonable discretion in consultation with Borrower); PFG’s obligation to make Loans hereunder shall terminate. (c) The authority of the Agent to request Loans on behalf of, and to bind, each Borrower, shall continue unless and until PFG acts as provided in Section 1.7(b) above, or PFG actually receives: (i) written notice of: (A) the termination of such authority, and (B) the subsequent appointment of a successor Agent, which notice is executed by the respective chief executive or financial officers of each Borrower (other than the chief executive officer of the Agent being replaced) then eligible for borrowing under this Agreement; and (ii) written notice from the successor Agent (A) accepting such appointment; (B) acknowledging that the removal and appointment has been effected by the respective chief executive or financial officer of each Borrower eligible for borrowing under the within Agreement; and (B) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “Agent” shall mean and include the newly appointed Agent.
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Agented Loan Arrangement 
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Related to Agented Loan Arrangement

  • Required Loan Documents The Collateral Custodian will not dispose of any documents constituting the Required Loan Documents in any manner that is inconsistent with the performance of its obligations as the Collateral Custodian pursuant to this Agreement and will not dispose of any Collateral Portfolio except as contemplated by this Agreement.

  • Credit Agreement; Loan Documents This Agreement or counterparts hereof shall have been duly executed by, and delivered to, Borrowers, each other Credit Party, Agent and Lenders; and Agent shall have received such documents, instruments, agreements and legal opinions as Agent shall reasonably request in connection with the transactions contemplated by this Agreement and the other Loan Documents, including all those listed in the Closing Checklist attached hereto as Annex D, each in form and substance reasonably satisfactory to Agent.

  • Loan Document Pursuant to Existing Credit Agreement This Amendment is a Loan Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement, as amended hereby, including Article IX thereof.

  • Execution of Credit Agreement; Loan Documents The Administrative Agent shall have received (i) counterparts of this Agreement, executed by a Responsible Officer of each Loan Party and a duly authorized officer of each Lender, (ii) for the account of each Lender requesting a Note, a Note executed by a Responsible Officer of the Borrower, (iii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person party thereto, as applicable and (iv) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto.

  • of the Loan Agreement Section 14.1.1(c)(iii) of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Credit Agreement Amendments The Credit Agreement is hereby amended as follows:

  • Amendment of Credit Agreement (a) Effective as of the First Incremental Term Facility Amendment Effective Date, the Credit Agreement is hereby amended as follows: (i) The following definitions are hereby added in the appropriate alphabetical order to Section 1.01:

  • Executed Loan Documents This Agreement, a Revolving Credit Note in favor of each Lender (if requested thereby), a Swingline Note in favor of the Swingline Lender (if requested thereby), a Discount Note in favor of each Non-BA Lender (if requested thereby) and the Security Documents, together with any other applicable Loan Documents, shall have been duly authorized, executed and delivered to the Administrative Agent by the parties thereto, shall be in full force and effect and no Default or Event of Default shall exist hereunder or thereunder.

  • Amendment of Loan Agreement The Loan Agreement is hereby modified and amended as follows:

  • Instrument Pursuant to Existing Credit Agreement This Amendment is a Credit Document executed pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with the terms and provisions of the Existing Credit Agreement.

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