Common use of Agents Individually Clause in Contracts

Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender Party” or “Lender Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender Parties. (b) Each Lender Party understands that each Person serving as an Agent or an Arranger, in each case, acting in its individual capacity, and its Affiliates (collectively, such “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore, each Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Loan Parties and their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties that are not members of such Agent’s Group. No Agent or Arranger nor any member of such Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender Parties, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or to account for any revenue or profits obtained in connection with the Activities, except that each Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such Agent to the Lender Parties. (c) Each Lender Party further understands that there may be situations where members of each Agent’s Group or their respective customers (including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties (including the interests of the Lender Parties hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group is or shall be required to restrict its activities as a result of each Person serving as an Agent or an Arranger being a member of such Agent’s Group, and that each member of such Agent’s Group may undertake any Activities without further consultation with or notification to any Lender Party. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group to any Lender Party including any such duty that would prevent or restrict such Agent’s Group from acting on behalf of customers (including the Loan Parties or their Affiliates) or for its own account.

Appears in 6 contracts

Samples: Credit Agreement (Francesca's Holdings CORP), Credit Agreement (Francesca's Holdings CORP), Credit Agreement (Francesca's Holdings CORP)

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Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the any Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person serving as an Agent or an Arranger, in each caseAgent, acting in its individual capacity, and its Affiliates (collectively, such the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 12 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Credit Parties or their respective Affiliates. Furthermore, each the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Loan Credit Parties and their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the any Borrower, another Loan Credit Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Credit Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each the Agent’s Group may receive or otherwise obtain information concerning the Loan Credit Parties or their Affiliates (including information concerning the ability of the Loan Credit Parties to perform their respective Obligations hereunder and under the other Loan Credit Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such the Agent’s Group. No Agent or Arranger nor any member of such the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Credit Party or any Affiliate of any Loan Credit Party) or to account for any revenue or profits obtained in connection with the Activities, except that each Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Credit Document to be transmitted by such Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each the Agent’s Group or their respective customers (including the Loan Credit Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Credit Documents). Each Lender Party agrees that no member of any the Agent’s Group is or shall be required to restrict its activities as a result of each Person serving as an Agent or an Arranger being a member of such the Agent’s Group, and that each member of such the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Credit Document, (ii) the receipt by any the Agent’s Group of information (including Information) concerning the Loan Credit Parties or their Affiliates (including information concerning the ability of the Loan Credit Parties to perform their respective Obligations hereunder and under the other Loan Credit Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the any Agent or Arranger or any member of such the Agent’s Group to any Lender Party including any such duty that would prevent or restrict such the Agent’s Group from acting on behalf of customers (including the Loan Credit Parties or their Affiliates) or for its own account.

Appears in 4 contracts

Samples: Credit Agreement (Railamerica Inc /De), Credit Agreement (Railamerica Inc /De), Credit Agreement (Railamerica Inc /De)

Agents Individually. (a) Each Any Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender Party” "Lender" or “Lender Parties” "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Each such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person serving financial institution acting as an Agent or an Arranger, in each case, acting in its individual capacity, and its any successor Agent may and their respective Affiliates (collectively, such “Agent’s Group”the "Agent Parties") are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 8.02 as the "Activities") and may engage in the Activities with or on behalf of one or more of the Loan Credit Parties or their respective Affiliates. Furthermore, each Agent’s Group may, the Agent Parties in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their own account or on behalf of others (including the Loan Credit Parties and their Affiliates and including holding, for its own account or on behalf of others, equity, debt equity and similar positions in the BorrowerBorrowers, another Loan Party other Credit Parties or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Credit Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group the Agent Parties may receive or otherwise obtain information concerning the Loan Credit Parties or their Affiliates (including information concerning the ability of the Loan Credit Parties to perform their respective Obligations hereunder and under the other Loan Documents) ), which information may not be available to any of the Lender Parties Lenders that are not members Affiliates of such Agent’s Groupthe Agent Parties. No Except for documents expressly required by any Loan Document to be transmitted by the Administrative Agent or Arranger to the Lenders, neither any Agent nor any other member of such Agent’s Group the Agent Parties shall have any duty or responsibility to disclose to any Lender Party or use on behalf of the Lender Partiesprovide, and shall not be liable for the failure to so disclose or useprovide, any information whatsoever about Lender with any credit or derived from the Activities or otherwise (including any other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Credit Party or any Affiliate of any Loan Party) Credit Party that may come into the possession of any Agent or to account for any revenue Affiliate thereof or profits obtained in connection with any employee or agent of any of the Activities, except that each Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such Agent to the Lender Partiesforegoing. (c) Each Lender Party further understands that there may be situations where members in which parts of each Agent’s Group or their respective the Agent Parties' customers (including the Loan Credit Parties and or their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group is or shall be the Agent Parties are not required to restrict its their activities as a result of each Person serving the Agent Parties acting as an Agent (or an Arranger being a member of such Agent’s Groupin any other capacity) hereunder and under the other Loan Documents, and that each member of such Agent’s Group the Agent Parties may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group the Agent Parties of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) Confidential Information nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group the Agent Parties to any Lender Party including any such duty that would prevent or restrict such Agent’s Group the Agent Parties from acting on behalf of customers (including the Loan Credit Parties or their Affiliates) or for its their own account. Each Lender agrees that none of any Agent, the Agent Parties nor any member or business of the Agent Parties is under a duty to disclose to any Lender or use on behalf of the Lenders any information whatsoever about or derived from the Activities or to account for any revenue or profits obtained in connection with the Activities.

Appears in 2 contracts

Samples: Credit Agreement (AbitibiBowater Inc.), Senior Secured Superpriority Debtor in Possession Credit Agreement (AbitibiBowater Inc.)

Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each the Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person the respective Persons serving as an Agents, Co-Syndication Agents, Documentation Agent or an Arranger, in each caseand Arrangers, acting in its their individual capacitycapacities, and its their respective Affiliates (collectively, such the Agent’s GroupAgents’ Groups”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore, each Agent’s Group the Agents’ Groups may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their respective own account accounts or on behalf of others (including the Loan Parties and their Affiliates and including holding, for its their respective own account accounts or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group the Agents’ Groups may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such Agent’s Groupthe Agents’ Groups. No Agent or Arranger nor any member None of such Agent’s Group the members of the Agents’ Groups shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and none of the members of the Agents’ Group shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or required to account for any revenue or profits obtained in connection with the Activities, except that each the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each Agent’s Group the Agents’ Groups or their respective customers (including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group the Agents’ Groups is or shall be required to restrict its activities as a result of each the Person serving as an Agent, Co-Syndication Agents, Documentation Agent or an Joint Lead Arranger and Bookrunner being a member of such Agent’s Groupthe Agents’ Groups, and that each member of such Agent’s Group the Agents’ Groups may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group the Agents’ Groups of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group the Agents’ Groups to any Lender Party including any such duty that would prevent or restrict such Agent’s Group the Agents’ Groups from acting on behalf of customers (including the Loan Parties or their Affiliates) or for its their respective own accountaccounts.

Appears in 2 contracts

Samples: Credit Agreement (Solutia Inc), Credit Agreement (Solutia Inc)

Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person serving as an Agent or an Arranger, in each caseAgent, acting in its individual capacity, and its Affiliates (collectively, such the “Agent’s Group”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 12 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Credit Parties or their respective Affiliates. Furthermore, each the Agent’s Group may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its own account or on behalf of others (including the Loan Credit Parties and their Affiliates and including holding, for its own account or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Credit Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Credit Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each the Agent’s Group may receive or otherwise obtain information concerning the Loan Credit Parties or their Affiliates (including information concerning the ability of the Loan Credit Parties to perform their respective Obligations hereunder and under the other Loan Credit Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such the Agent’s Group. No Agent or Arranger nor any member of such the Agent’s Group shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Credit Party or any Affiliate of any Loan Credit Party) or to account for any revenue or profits obtained in connection with the Activities, except that each Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Credit Document to be transmitted by such Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each the Agent’s Group or their respective customers (including the Loan Credit Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Credit Documents). Each Lender Party agrees that no member of any the Agent’s Group is or shall be required to restrict its activities as a result of each Person serving as an Agent or an Arranger being a member of such the Agent’s Group, and that each member of such the Agent’s Group may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Credit Document, (ii) the receipt by any the Agent’s Group of information (including Information) concerning the Loan Credit Parties or their Affiliates (including information concerning the ability of the Loan Credit Parties to perform their respective Obligations hereunder and under the other Loan Credit Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by the any Agent or Arranger or any member of such the Agent’s Group to any Lender Party including any such duty that would prevent or restrict such the Agent’s Group from acting on behalf of customers (including the Loan Credit Parties or their Affiliates) or for its own account.

Appears in 1 contract

Samples: Credit Agreement (Wabash National Corp /De)

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Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each the Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person the respective Persons serving as an Agents, Syndication Agent, Documentation Agent or an Arranger, in each caseand Joint Lead Arrangers and Bookrunners, acting in its their individual capacitycapacities, and its their respective Affiliates (collectively, such the Agent’s GroupAgents’ Groups”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore, each Agent’s Group the Agents’ Groups may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their respective own account accounts or on behalf of others (including the Loan Parties and their Affiliates and including holding, for its their respective own account accounts or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group the Agents’ Groups may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such Agent’s Groupthe Agents’ Groups. No Agent or Arranger nor any member None of such Agent’s Group the members of the Agents’ Groups shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and none of the members of the Agents’ Group shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or required to account for any revenue or profits obtained in connection with the Activities, except that each the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each Agent’s Group the Agents’ Groups or their respective customers (including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group the Agents’ Groups is or shall be required to restrict its activities as a result of each the Person serving as an Agent, Syndication Agent, Documentation Agent or an Joint Lead Arranger and Bookrunner being a member of such Agent’s Groupthe Agents’ Groups, and that each member of such Agent’s Group the Agents’ Groups may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group the Agents’ Groups of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group the Agents’ Groups to any Lender Party including any such duty that would prevent or restrict such Agent’s Group the Agents’ Groups from acting on behalf of customers (including the Loan Parties or their Affiliates) or for its their respective own accountaccounts.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each the Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person the respective Persons serving as an Agents, Co-Syndication Agents, Documentation Agent or an Arranger, in each caseand Arrangers, acting in its their individual capacitycapacities, and its their respective Affiliates (collectively, such the Agent’s GroupAgents’ Groups”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore, each Agent’s Group the Agents’ Groups may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their respective own account accounts or on behalf of others (including the Loan Parties and their Affiliates and including holding, for its their respective own account accounts or on behalf of others, equity, debt and similar positions in the Borrower, another Loan Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group the Agents’ Groups may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such Agent’s Groupthe Agents’ Groups. No Agent or Arranger nor any member None of such Agent’s Group the members of the Agents’ Groups shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and none of the members of the Agents’ Group shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or required to account for any revenue or profits obtained in connection with the Activities, except that each the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each Agent’s Group the Agents’ Groups or their respective customers (including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group the Agents’ Groups is or shall be required to restrict its activities as a result of each the Person serving as an Agent, Co-Syndication Agents, Documentation Agent 127-127- or an Joint Lead Arranger and Bookrunner being a member of such Agent’s Groupthe Agents’ Groups, and that each member of such Agent’s Group the Agents’ Groups may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group the Agents’ Groups of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group the Agents’ Groups to any Lender Party including any such duty that would prevent or restrict such Agent’s Group the Agents’ Groups from acting on behalf of customers (including the Loan Parties or their Affiliates) or for its their respective own accountaccounts.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

Agents Individually. (a) Each Person serving as an Agent or Arranger hereunder shall have the same rights and powers in its capacity as a Lender Party as any other Lender Party and may exercise the same as though it were not an Agent or an Arranger and the term “Lender PartyLender” or “Lender PartiesLenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each the Person serving as an Agent or an Arranger hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the any Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent or an Arranger hereunder and without any duty to account therefor to the Lender PartiesLenders. (b) Each Lender Party understands that each Person the respective Persons serving as an Agent or an ArrangerAgents, in each caseSyndication Agent, Documentation Agents and Joint Lead Arrangers and Bookrunners, acting in its their individual capacitycapacities, and its their respective Affiliates (collectively, such the Agent’s GroupAgents’ Groups”) are engaged in a wide range of financial services and businesses (including investment management, financing, securities trading, corporate and investment banking and research) (such services and businesses are collectively referred to in this Section 10.2 8.02 as “Activities”) and may engage in the Activities with or on behalf of one or more of the Loan Parties or their respective Affiliates. Furthermore, each Agent’s Group the Agents’ Groups may, in undertaking the Activities, engage in trading in financial products or undertake other investment businesses for its their respective own account accounts or on behalf of others (including the Loan Parties and their Affiliates and including holding, for its their respective own account accounts or on behalf of others, equity, debt and similar positions in the any Borrower, another Loan Party or their respective Affiliates), including trading in or holding long, short or derivative positions in securities, loans or other financial products of one or more of the Loan Parties or their Affiliates. Each Lender Party understands and agrees that in engaging in the Activities, each Agent’s Group the Agents’ Groups may receive or otherwise obtain information concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) which information may not be available to any of the Lender Parties Lenders that are not members of such Agent’s Groupthe Agents’ Groups. No Agent or Arranger nor any member None of such Agent’s Group the members of the Agents’ Groups shall have any duty to disclose to any Lender Party or use on behalf of the Lender PartiesLenders, and none of the members of the Agents’ Group shall not be liable for the failure to so disclose or use, any information whatsoever about or derived from the Activities or otherwise (including any information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party) or required to account for any revenue or profits obtained in connection with the Activities, except that each the Administrative Agent shall deliver or otherwise make available to each Lender Party such documents as are expressly required by any Loan Document to be transmitted by such the Administrative Agent to the Lender PartiesLenders. (c) Each Lender Party further understands that there may be situations where members of each Agent’s Group the Agents’ Groups or their respective customers (including the Loan Parties and their Affiliates) either now have or may in the future have interests or take actions that may conflict with the interests of any one or more of the Lender Parties Lenders (including the interests of the Lender Parties Lenders hereunder and under the other Loan Documents). Each Lender Party agrees that no member of any Agent’s Group the Agents’ Groups is or shall be required to restrict its activities as a result of each the Person serving as an Agent Agent, Syndication Agent, Documentation Agents or an Joint Lead Arranger and Bookrunner being a member of such Agent’s Groupthe Agents’ Groups, and that each member of such Agent’s Group the Agents’ Groups may undertake any Activities without further consultation with or notification to any Lender PartyLender. None of (i) this Agreement nor any other Loan Document, (ii) the receipt by any Agent’s Group the Agents’ Groups of information (including Information) concerning the Loan Parties or their Affiliates (including information concerning the ability of the Loan Parties to perform their respective Obligations hereunder and under the other Loan Documents) nor (iii) any other matter shall give rise to any fiduciary, equitable or contractual duties (including without limitation any duty of trust or confidence) owing by any Agent or Arranger or any member of such Agent’s Group the Agents’ Groups to any Lender Party including any such duty that would prevent or restrict such Agent’s Group the Agents’ Groups from acting on behalf of customers (including the Loan Parties or their Affiliates) or for its their respective own accountaccounts.

Appears in 1 contract

Samples: Credit Agreement (Solutia Inc)

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