Common use of Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements Clause in Contracts

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters of Credit pursuant to this Agreement and the other Loan Documents from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan Party. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 6 contracts

Samples: Loan and Security Agreement (ADS Tactical, Inc.), Loan and Security Agreement (ADS Tactical, Inc.), Loan and Security Agreement (ADS Tactical, Inc.)

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Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and Vitamin Shoppe as Administrative Borrower and, as such, constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters of Credit pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters Letter of Credit to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Guarantor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 4 contracts

Samples: Loan and Security Agreement (Franchise Group, Inc.), Loan and Security Agreement (Franchise Group, Inc.), Loan and Security Agreement (Vitamin Shoppe, Inc.)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters Letter of Credit Accommodations pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative and Collateral Agent or any Lender in the name or on behalf of such Borrower. The Administrative and Collateral Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters Letter of Credit Accommodations to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Guarantor. Notwithstanding anything to the contrary contained herein, the Administrative and Collateral Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (BlueLinx Holdings Inc.), Loan and Security Agreement (BlueLinx Holdings Inc.)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters of Credit pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower an Obligor or Additional L/C Debtor as the Administrative Borrower may designate or direct, without notice to any other Loan PartyObligor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Charming Shoppes Inc), Loan and Security Agreement (Charming Shoppes Inc)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-attorney in fact to request and receive Loans and Letters Letter of Credit Accommodations pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Subject to the terms and conditions contained herein, Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters Letter of Credit Accommodations to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Obligor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters Letter of Credit Accommodations pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Subject to the terms and conditions contained herein, Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters Letter of Credit Accommodations to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Obligor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes Technologies (in such capacity, together with its successors and assigns, the Administrative Borrower Borrower”) as its agent and attorney-in-fact to request and receive Loans and Letters of Credit pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Guarantor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Merix Corp)

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Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Loans, Letters of Credit and transfers from the Blocked Accounts pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans and such transfers to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans and such transfers to a Borrower and provide such Letters of Credit to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Guarantor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans and such transfers to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Commerce Energy Group Inc)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters of Credit pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent Agents or any Lender in the name or on behalf of such Borrower. The Administrative Agent Agents and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or otherwise make such Loans to a Borrower and provide such Letters of Credit to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Guarantor. Notwithstanding anything to the contrary contained herein, the Administrative Working Capital Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Hancock Fabrics Inc)

Appointment of Administrative Borrower as Agent for Requesting Loans and Receipts of Loans and Statements. (a) Each Borrower hereby irrevocably appoints and constitutes the Administrative Borrower as its agent and attorney-in-fact to request and receive Loans and Letters Letter of Credit Accommodations pursuant to this Agreement and the other Loan Documents Financing Agreements from the Administrative Agent or any Lender in the name or on behalf of such Borrower. The Administrative Agent and the Lenders may disburse the Loans to such bank account of the Administrative Borrower or a Borrower or Guarantor or otherwise make such Loans to a Borrower and provide such Letters Letter of Credit Accommodations to a Borrower as the Administrative Borrower may designate or direct, without notice to any other Loan PartyBorrower or Obligor. Notwithstanding anything to the contrary contained herein, the Administrative Agent may at any time and from time to time require that Loans to or for the account of any Borrower be disbursed directly to an operating account of such Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Universal Automotive Industries Inc /De/)

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