Common use of Agents Entitled to Act as Bank Clause in Contracts

Agents Entitled to Act as Bank. The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, any Agent in its respective individual capacity as a Bank hereunder. With respect to its participation in the Loans, each of JPMorgan Chase, Bank of America, N.A., Citibank, N.A., Deutsche Bank AG New York Branch and UBS Warburg LLC shall have the same rights and powers hereunder as any other Bank and may exercise the same as though it were not performing the duties and functions delegated to it hereunder, and the term "Bank" or "Banks" or any similar term shall, unless the context clearly otherwise indicates, include the Agents in their respective individual capacity. Each of JPMorgan Chase, Bank of America, N.A., Citibank, N.A., Deutsche Bank AG New York Branch and UBS Warburg LLC and their respective Affiliates may accept deposits from, lend money to and generally engage in any kind of banking, trust, financial advisory or other business with the Company or any Affiliate or Subsidiary of the Company as if it were not performing the duties specified herein, and may accept fees and other consideration from the Company or any such Affiliate or Subsidiary for services in connection with this Agreement and otherwise without having to account for the same to the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Textron Inc), Credit Agreement (Textron Inc), 364 Day Credit Agreement (Textron Inc)

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Agents Entitled to Act as Bank. The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, any Agent in its respective individual capacity as a Bank hereunder. With respect to its participation in the LoansLoans and the Letters of Credit, each of JPMorgan Chase, Bank of America, N.A., Citibank, N.A., Deutsche Bank AG New York Branch Securities Inc. and UBS Warburg LLC AG, Stamford Branch shall have the same rights and powers hereunder as any other Bank and may exercise the same as though it were not performing the duties and functions delegated to it hereunder, and the term "Bank" or "Banks" or any similar term shall, unless the context clearly otherwise indicates, include the Agents in their respective individual capacity. Each of JPMorgan Chase, Bank of America, N.A., Citibank, N.A., Deutsche Bank AG New York Branch Securities Inc. and UBS Warburg LLC AG, Stamford Branch and their respective Affiliates may accept deposits from, lend money to and generally engage in any kind of banking, trust, financial advisory or other business with the Company or any Affiliate or Subsidiary of the Company as if it were not performing the duties specified herein, and may accept fees and other consideration from the Company or any such Affiliate or Subsidiary for services in connection with this Agreement and otherwise without having to account for the same to the Banks.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Textron Inc)

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