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

Appointment and duties of the Facility Agent. (a) Save as provided in Clause 21.10, 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) 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.

Appears in 1 contract

Samples: Credit Facility Agreement (Danaos Corp)

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Appointment and duties of the Facility Agent. (a) Save as provided in Clause 21.10, each 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 on its behalf 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 AgentAgent on that Party's behalf. (c) 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.

Appears in 1 contract

Samples: Reducing Revolving Credit Facility (Seaspan CORP)

Appointment and duties of the Facility Agent. (a) Save as provided in Clause 21.10, each Each Finance Party (other than the Facility Agent) irrevocably appoints the Facility Agent to act as its agent under and in connection with 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 enter into and deliver each Finance Document expressed to be executed entered into by the Facility Agent. (c) 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. (d) Upon request at any time while the Facility Agent is an Impaired Agent, the Parent shall provide a copy of the list of all the Lenders to each Finance Party.

Appears in 1 contract

Samples: Credit Facility Agreement (Eros International PLC)

Appointment and duties of the Facility Agent. (a) Save as provided in Clause 21.10, each Finance Party (other than Each of the Facility Agent) Arranger and the Lenders irrevocably appoints the Facility Agent to act as its agent under the Finance Documents. (b) Each Finance Party irrevocably authorises the Facility Agent on its behalf 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 AgentAgent on that Party’s behalf. (c) 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.

Appears in 1 contract

Samples: Facility Agreement (Global Ship Lease, Inc.)

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Appointment and duties of the Facility Agent. (a) Save as provided in Clause 21.10, each Each Finance Party (other than the Facility Agent) irrevocably appoints the Facility Agent to act as its agent under and in connection with 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 enter into and deliver each Finance Document expressed to be executed entered into by the Facility Agent. (c) The Facility Agent has only those duties which are expressly specified in the Finance DocumentsDocuments to which it is party, and no other duties shall be implied. Those duties are solely of a mechanical and administrative nature.

Appears in 1 contract

Samples: Credit Facility Agreement (Baidu, Inc.)

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