Common use of Appointment and duties of the Facility Agent Clause in Contracts

Appointment and duties of the Facility Agent. (a) Each Finance Party (other than the Facility Agent) irrevocably appoints the Facility Agent to act as its agent under the Finance Documents. (b) Each Finance Party irrevocably authorises the Facility Agent to: (i) perform the duties and to exercise the rights, powers and discretions that are specifically given to it under the Finance Documents, together with any other incidental rights, powers and discretions; and (ii) execute each Finance Document expressed to be executed by the Facility Agent. (c) Each Finance Party hereby exempts the Facility Agent from the restrictions provided for in Section 181 of the German Civil Code (Bürgerliches Gesetzbuch). (d) The Facility Agent has only those duties which are expressly specified in the Finance Documents. Those duties are solely of a mechanical and administrative nature.

Appointment and duties of the Facility Agent. (a) Each Finance Party (other than the Facility relevant Agent) irrevocably appoints the Facility each Agent to act as its agent under and in connection with the Finance Documents. (b) Each Finance Party irrevocably authorises the Facility each Agent to: (i) perform the duties and to exercise the rights, powers and discretions that are specifically given to it under the Finance Documents, together with any other incidental rights, powers and discretions; and (ii) execute each Finance Document expressed to be executed by the Facility Agentrelevant Agent on its behalf. (c) Each Finance Party hereby exempts the Facility each Agent from the restrictions provided for set out in Section 181 of the German Civil Code (Bürgerliches Gesetzbuch). (d) The Facility Agent has Agents have only those duties which are expressly specified in the Finance Documents. Those duties are solely of a mechanical and administrative nature.

Appointment and duties of the Facility Agent. (a) Each Finance Party (other than the Facility Agent) irrevocably appoints the Facility Agent to act as its agent under the Finance Documents. (b) Each Finance Party irrevocably authorises the Facility Agent to: (i) perform the duties and to exercise the rights, powers and discretions that are specifically given to it under the Finance Documents, together with any other incidental rights, powers and discretions; and (ii) execute each Finance Document expressed to be executed by the Facility Agent. (c) Each Finance Party hereby exempts the Facility Agent from the restrictions provided for in Section 181 of the German Germany Civil Code (Bürgerliches Gesetzbuch), to the extent legally possible to such Finance Party. A Finance Party which is barred by its constitutional documents or by-laws from granting such exemption shall notify the Facility Agent accordingly. (d) The Facility Agent has only those duties which are expressly specified in the Finance Documents. Those duties are solely of a mechanical and administrative nature.