Appointment of Borrowing Agent. Each Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with the issuer thereof upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the other Loan Documents, all on behalf of and in the name such Xxxxxxxx, and hereby authorizes Lender to pay over or credit all Loan proceeds hereunder in accordance with the request of Borrowing Agent.
Appointment of Borrowing Agent. Each Borrower (other than MGP) hereby appoints MGP as such Borrower’s agent and attorney-in-fact to take any action, execute any document or instrument, consent or agree to any amendment or other modification of the Credit Documents or waiver of or departure from any of the terms thereof, to perform any Obligation of the Borrowers hereunder, and to give or receive any notice by or to any Borrower hereunder. Without limiting the generality of the foregoing, MGP may request Loans or incur any other Obligation for the account of the other Borrowers, and the Borrowers shall be fully, and jointly and severally, bound by the actions of MGP. The Agent, the Issuing Bank, the Swingline Lender and the Banks shall be entitled to rely absolutely and without duty of inquiry or investigation upon any agreement, request, communication or other notice given by MGP under the Credit Documents (including, without limitation, any request by MGP to make Loans to another Borrower) until two Business Days after the Agent shall have received written notice from the Borrowers of the revocation of this agency and power of attorney, which revocation, in accordance with Section 7.1, shall constitute an Event of Default.
Appointment of Borrowing Agent. Each Borrower hereby appoints the other Borrower (the “Borrowing Agent”) as such Borrower’s agent and attorney-in-fact to take any action, execute any document or instrument, consent or agree to any amendment or other modification of the Credit Documents or waiver of or departure from any of the terms thereof, to perform any Obligation of the Borrowers hereunder, and to give or receive any notice by or to any Borrower hereunder. Without limiting the generality of the foregoing, the Borrowing Agent may request Loans or incur any other Obligation for the account of the other Borrower, and the Borrowers shall be fully, and jointly and severally, bound by the actions of the Borrowing Agent. The Bank shall be entitled to rely absolutely and without duty of inquiry or investigation upon any agreement, request, communication or other notice given by the Borrowing Agent under the Credit Documents (including, without limitation, any request by the Borrowing Agent to make Loans to another Borrower) until two Business Days after the Bank shall have received written notice from the Borrowers of the revocation of this agency and power of attorney, which revocation, in accordance with Section 7.1, shall constitute an Event of Default.
Appointment of Borrowing Agent. Each Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) [reserved], (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, [reserved], and (viii) otherwise take action under and in connection with this Agreement and the other Loan Documents, all on behalf of and in the name such Borrower, and hereby authorizes Agent to pay over or credit all Loan proceeds hereunder in accordance with the request of Borrowing Agent.
Appointment of Borrowing Agent. Each Loan Party hereby irrevocably appoints Intermex Wire as the borrowing agent and attorney-in-fact for all Loan Parties, which appointment shall remain in full force and effect unless and until the Administrative Agent shall have received prior written notice signed by each Borrower that such appointment has been revoked and that another Borrower has been appointed borrowing agent and attorney-in-fact. Each Loan Party hereby irrevocably appoints and authorizes Intermex Wire to (i) provide the Administrative Agent with all notices with respect to Loans and Letters of Credit obtained for the benefit of any Borrower and all other notices and instructions under this Agreement, (ii) take such action as Intermex Wire deems appropriate on its behalf to obtain Loans and Letters of Credit, and (iii) exercise such other powers as are reasonably incidental thereto to carry out the purposes of this Agreement. It is understood that the handling of the Collateral of the Loan Parties in a combined fashion, as more fully set forth herein, is done solely as an accommodation to the Borrowers in order to utilize the collective borrowing powers of the Loan Parties in the most efficient and economical manner and at their request, and that neither the Administrative Agent nor any Lender shall incur liability to any Loan Party as a result hereof. Each Loan Party expects to derive benefit, directly or indirectly, from the handling of the Collateral in a combined fashion since the successful operation of each Loan Party is dependent on the continued successful performance of the integrated group.
