Common use of Agents as Banks Clause in Contracts

Agents as Banks. Each bank serving as an Agent hereunder shall have the same rights and powers in its capacity as a Bank as any other Bank 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 Borrower, Guarantors, Subsidiaries thereof or other Affiliate thereof as if it were not an Agent hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Stroud Energy Inc), Credit Agreement (Stroud Energy Inc)

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Agents as Banks. Each bank serving as an With respect to that portion of the Stated Amount or the Loan made available by it, each Agent hereunder shall have the same rights and powers in its capacity as a Bank hereunder as any other Bank and may exercise the same as though it were not an Agent, and such bank the term "Bank" or "Banks" shall include each Agent in its capacity as a Bank. Each Agent and its Affiliates affiliates may accept deposits from, lend money to and generally engage in any kind of business with Borrowerwith, Guarantors, Subsidiaries thereof or the Borrower and the other Affiliate thereof Security Parties as if it were not an Agent hereunderAgent.

Appears in 1 contract

Samples: Facility Agreement (Omi Corp/M I)

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Agents as Banks. Each bank serving as an Agent hereunder The Agents shall have be under the same obligations and be entitled to the same rights and powers in their capacities as Banks as if they were not the Agents and neither of Agents shall be obliged by reason of its position to account to any other Bank for any sum received by it hereunder in its capacity as a Bank as or for the profit element thereof and the Agents or any Bank may, without liability to account to the other Bank and may exercise the same as though it were not an AgentBanks, and such bank and its Affiliates may accept deposits from, lend money to to, and generally engage in any kind of banking or trust business with Borrowerwith, Guarantors, Subsidiaries thereof or other Affiliate thereof the Company and its affiliates as if it they were not an Agent hereunderthe Agents or a Bank, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Alumax Inc)

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