Agent's Right to Purchase Commitments Clause Samples
The Agent's Right to Purchase Commitments clause grants the agent the authority to acquire or assume purchase obligations on behalf of the principal or within a specified transaction. Typically, this means the agent can enter into binding agreements to buy goods, services, or assets as outlined in the contract, often within certain limits or subject to approval. This clause ensures that the agent can act decisively and efficiently in securing necessary commitments, thereby streamlining operations and reducing delays that could arise from seeking repeated approvals.
Agent's Right to Purchase Commitments. Agent shall have the right, but shall not be obligated, at any time upon written notice to any Lender and with the consent of such Lender, which may be granted or withheld in such Lender's sole discretion, to purchase for Agent's own account all of such Lender's interests in this Agreement, the other Loan Documents and the Obligations, for the face amount of the outstanding Obligations owed to such Lender, including without limitation all accrued and unpaid interest and fees.
Agent's Right to Purchase Commitments. Agent shall have the right, but shall not be obligated, at any time upon written notice to any Lender and with the consent of such Lender, which may be granted or withheld in such Lender's sole discretion, to purchase for Agent's own account all of such Lender's interests in this Agreement, the other Loan Documents and the Obligations, for the face amount of the outstanding Obligations owed to such Lender, including, without limitation, all accrued and unpaid interest and fees (including LIBOR breakage fees to the extent that the same have been actually incurred by such Lender in connection with such purchase).