Common use of Appointment and Authorization of Agent Clause in Contracts

Appointment and Authorization of Agent. Each Secured Party hereby irrevocably appoints, designates and authorizes the Agent and its applicable Managing Agent to take such action on its behalf under the provisions of this Agreement and each other Transaction Document and to exercise such powers and perform such duties as are expressly delegated to such Agent or Managing Agent, as applicable, by the terms of this Agreement and any other Transaction Document, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Transaction Document, no Agent or Managing Agent shall have any duties or responsibilities except those expressly set forth in this Agreement, nor shall the Agent or any Managing Agent have or be deemed to have any fiduciary relationship with any Investor or other Secured Party, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Transaction Document or otherwise exist against any Agent or Managing Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” in this Agreement with reference to any Agent or Managing Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

Appointment and Authorization of Agent. Each Secured Party Lender hereby irrevocably appoints, designates and authorizes the Agent and its applicable Managing Agent to take such action on its behalf under the provisions of this Agreement and each other Transaction Debt Document and to exercise such powers and perform such duties as are expressly delegated to such Agent or Managing Agent, as applicable, it by the terms of this Agreement and or any other Transaction Debt Document, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement herein or in any other Transaction Debt Document, no Agent or Managing Agent shall not have any duties or responsibilities responsibilities, except those expressly set forth in this Agreementherein, nor shall the Agent or any Managing Agent have or be deemed to have any fiduciary relationship with any Investor Lender or other Secured Partyparticipant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Transaction Debt Document or otherwise exist against any Agent or Managing Agent. Without limiting the generality of the foregoing sentence, the use of the term “agent” herein and in this Agreement the other Debt Documents with reference to any Agent or Managing Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.

Appointment and Authorization of Agent. Each Secured Party Bank hereby irrevocably -------------------------------------- appoints, designates and authorizes the Agent and its applicable Managing Agent to take such action on its behalf under the provisions of this Agreement and each other Transaction Loan Document and to exercise such powers and perform such duties as are expressly delegated to such Agent or Managing Agent, as applicable, it by the terms of this Agreement and or any other Transaction Loan Document, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement herein or in any other Transaction Loan Document, no Agent or Managing the Agent shall not have any duties or responsibilities responsibilities, except those expressly set forth in this Agreementherein, nor shall the Agent or any Managing Agent have or be deemed to have any fiduciary relationship with any Investor Bank or other Secured Partyparticipant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Transaction Loan Document or otherwise exist against any Agent or Managing the Agent. Without limiting the generality of the foregoing sentence, the use of the term “"agent” " herein and in this Agreement the other Loan Documents with reference to any Agent or Managing the Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Lawlaw. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties.