Common use of Applicable Parties Clause in Contracts

Applicable Parties. The provisions of this Article are solely for the benefit of the Administrative Agent, any other Agents and the Lenders, and, except with respect to the appointment of a successor Agent, the Borrower shall not have any rights as a third party beneficiary or otherwise under any of the provisions of this Article. In performing functions and duties hereunder and under the other Loan Documents, each of the Administrative Agent and any other Agent shall each act solely as the contractual agent of the Lenders and does not assume, nor shall either of them be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrower or any legal representative, successor, and assign of the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Saratoga Resources Inc /Tx), Credit Agreement (Saratoga Resources Inc /Tx)

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Applicable Parties. The provisions of this Article are solely for the benefit of the Administrative Agent, any other Agents and the Lenders, and, except with respect to the appointment of a successor Agent, the Borrower shall not have any rights as a third party beneficiary or otherwise under any of the provisions of this Article. In performing functions and duties hereunder and under the other Loan Documents, each of the Administrative Agent and any other Agent Agents shall each act solely as the contractual agent of the Lenders and does not assume, nor shall either of them be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrower or any legal representative, successor, and assign of the Borrower.. ARTICLE XI

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Gas Resources, Inc.)

Applicable Parties. The provisions of this Article are solely for the benefit of the Administrative Agent, any other Agents Agents, the Issuer and the Lenders, and, except with respect to the appointment of a successor AgentAgent or Issuer, the Borrower shall not have any rights as a third party beneficiary or otherwise under any of the provisions of this Article. In performing functions and duties hereunder and under the other Loan Documents, each of the Administrative Agent and Agent, any other Agent and the Issuer shall each act solely as the contractual agent of the Lenders and does not assume, nor shall either of them be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrower or any legal representative, successor, and assign of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Saratoga Resources Inc /Tx)

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Applicable Parties. The provisions of this Article are solely for the benefit of the Administrative Agent, any other Agents Agents, the Issuer and the Lenders, and, except with respect to the appointment of a successor AgentAgent or Issuer, the Borrower shall not have any rights as a third party beneficiary or otherwise under any of the provisions of this Article. In performing functions and duties hereunder and under the other Loan Documents, each of the Administrative Agent and Agent, any other Agent and the Issuer shall each act solely as the contractual agent of the Lenders and does not assume, nor shall either of them be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrower or any legal representative, successor, and assign of the Borrower.. ARTICLE XI

Appears in 1 contract

Samples: Credit Agreement (Pinnacle Gas Resources, Inc.)

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