Common use of Appointment and Duties of Agent Clause in Contracts

Appointment and Duties of Agent. (a) The parties hereto agree that The CIT Group/Equipment Financing, Inc. shall act, subject to the terms and conditions of this Article V, as the Agent for the Lenders in connection with the Loan, and to the extent set forth herein each Lender hereby irrevocably appoints, authorizes, empowers and directs the Agent to take such action on its behalf and to exercise such powers as are specifically delegated to the Agent herein or are reasonably incidental thereto in connection with the administration of and the enforcement of any rights or remedies with respect to this Agreement, the Notes and the other Loan Documents. It is expressly understood and agreed that the obligations of the Agent under the Loan Documents are only those expressly set forth in this Agreement. The Agent shall use reasonable diligence to examine the face of each document received by it hereunder to determine whether such documents, on its face, appears to be what it purports to be. However, the Agent shall not under any duty to examine into and pass upon the validity or genuineness of any documents received by it hereunder and the Agent shall be entitled to assume that any of the same which appears regular on its face is genuine and valid and what it purports to be. (b) The Agent shall: (i) as to matters not specifically referred to in Section 5.1(b)(ii) below, act pursuant to the instructions of the Lenders in all matters relating to the Loan Documents including but not limited to, all collateral for the Loan and waivers or amendments of the Loan Documents; and (ii) act pursuant to the instructions of The CIT Group/Equipment Financing, Inc. as to the Events of Default (and any waivers or remedies arising because of such defaults) referred to in Article IV. A.

Appointment and Duties of Agent. (a) The parties hereto agree that The CIT Group/Equipment Financing, Inc. shall act, subject to the terms and conditions of this Article V, as the Agent and, in respect of the Mortgages, as trustee, for the Lenders in connection with the Loan, and to the extent set forth herein each Lender hereby irrevocably appoints, authorizes, empowers and directs the Agent to take such action on its behalf and to exercise such powers as are specifically delegated to the Agent herein or are reasonably incidental thereto in connection with the administration of and the enforcement of any rights or remedies with respect to this Agreement, the Notes Note and the other Loan Documents. It is expressly understood and agreed that the obligations of the Agent under the Loan Documents are only those expressly set forth in this Agreement. The Agent shall use reasonable diligence to examine the face of each document received by it hereunder to determine whether such documents, on its their face, appears appear to be what it purports they purport to be. However, the Agent shall not under any duty to examine into and pass upon the validity or genuineness of any documents received by it hereunder and the Agent shall be entitled to assume that any of the same which appears regular on its face is genuine and valid and what it purports to be. (b) The Subject to the provisions of Section 6.5 of this Agreement, the Agent shall: (i) as to matters not specifically referred to in Section 5.1(b)(ii) below, shall act pursuant to the instructions of the Majority Lenders in all matters relating to the Loan Documents including but not limited to, all collateral for the Loan and waivers or amendments of the Loan Documents; and (iiprovided, that this Section 5.1(b) act shall not permit any amendment, waiver, modification, termination or discharge of any Loan Document or any provisions thereof except pursuant to the instructions terms of The CIT Group/Equipment Financing, Inc. as to the Events of Default (and any waivers or remedies arising because of such defaults) referred to in Article IV. A.Section 6.5 hereof.

Appointment and Duties of Agent. (a) The parties hereto agree that The CIT Group/Equipment Financing, Inc. shall actEach of the Lenders hereby irrevocably appoints and designates U.S. Bank National Association, subject to the terms and conditions of this Article V7, as the Agent administrative agent for such Lender under and for purposes of this Agreement and the other Loan Documents. Each of the Lenders in connection with the Loan, and to the extent set forth herein each Lender hereby irrevocably appointsirrevocably, authorizes, empowers and directs the Agent to take such action on its behalf and to exercise such powers hereunder as are specifically expressly delegated to the Agent herein or herein, together with such powers as are reasonably incidental thereto incident thereto, in connection with the administration of and the enforcement of any rights or remedies with respect to this Agreement, the Notes Agreement and the other Loan Documents. It is expressly understood and agreed that Notwithstanding any provision to the obligations of contrary contained herein or in any other Loan Document, the Agent under the Loan Documents are only shall not have any duties or responsibilities except those expressly set forth in herein, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this AgreementAgreement or any other Loan Document or otherwise exist against the Agent. The Agent shall use reasonable diligence to examine the face of each document received by it hereunder to determine whether such documentsdocument, on its face, appears to be what it purports to be. However, the Agent shall not be under any duty to examine into and or pass upon the validity or genuineness of any documents received by it hereunder and the Agent shall be entitled to assume that any of the same which appears regular on its face is genuine and valid and what it purports to be. (b) The Agent shall: (i) as to matters not specifically referred to in Section 5.1(b)(ii) below, act pursuant to the instructions of the Lenders in all matters relating to the Loan Documents including but not limited to, all collateral for the Loan and waivers or amendments of the Loan Documents; and (ii) act pursuant to the instructions of The CIT Group/Equipment Financing, Inc. as to the Events of Default (and any waivers or remedies arising because of such defaults) referred to in Article IV. A.

Appointment and Duties of Agent. (a) The parties hereto agree that The CIT Group/Equipment Financing, Inc. shall act, subject to the terms and conditions of this Article V, as the Agent for the Lenders in connection with the Loan, and to the extent set forth herein each Lender hereby irrevocably appoints, authorizes, empowers and directs the Agent to take such action on its behalf and to exercise such powers as are specifically delegated to the Agent herein or are reasonably incidental thereto in connection with the administration of and the enforcement of any rights or remedies with respect to this Agreement, the Notes Note and the other Loan Documents. It is expressly understood and agreed that the obligations of the Agent under the Loan Documents are only those expressly set forth in this Agreement. The Agent shall use reasonable diligence to examine the face of each document received by it hereunder to determine whether such documents, on its face, appears to be what it purports to be. However, the Agent shall not under any duty to examine into and pass upon the validity or genuineness of any documents received by it hereunder and the Agent shall be entitled to assume that any of the same which appears regular on its face is genuine and valid and what it purports to be. (b) The Agent shall: (i) as to matters not specifically referred to in Section 5.1(b)(ii) below, shall act pursuant to the instructions of the Majority Lenders in all matters relating to the Loan Documents including but not limited to, all collateral for the Loan and waivers or amendments of the Loan Documents; and (ii) act pursuant to the instructions of The CIT Group/Equipment Financing, Inc. as to the Events of Default (and any waivers or remedies arising because of such defaults) referred to in Article IV. A..

Appointment and Duties of Agent. (a) The parties hereto agree that The CIT Group/Equipment Financing, Inc. shall act, subject to the terms and conditions of this Article V, as the Agent for the Lenders in connection with the Loan, and to the extent set forth herein each Lender hereby irrevocably appoints, authorizes, empowers and directs the Agent to take such action on its behalf and to exercise such powers as are specifically delegated to the Agent herein or are reasonably incidental thereto in connection with the administration of and the enforcement of any rights or remedies with respect to this Agreement, the Notes and the other Loan Documents. It is expressly understood and agreed that the obligations of the Agent under the Loan Documents are only those expressly set forth in this Agreement. The Agent shall use reasonable diligence to examine the face of each document received by it hereunder to determine whether such documents, on its face, appears to be what it purports to be. However, the Agent shall not under any duty to examine into and pass upon the validity or genuineness of any documents received by it hereunder and the Agent shall be entitled to assume that any of the same which appears regular on its face is genuine and valid and what it purports to be. (b) The Agent shall: (i) as to matters not specifically referred to in Section 5.1(b)(ii5.01(b)(ii) below, act pursuant to the instructions of the Lenders in all matters relating to the Loan Documents including but not limited to, all collateral for the Loan and waivers or amendments of the Loan Documents; and (ii) act pursuant to the instructions of The CIT Group/Equipment Financing, Inc. as to the Events of Default (and any waivers or remedies arising because of such defaults) referred to in Article IV. A.