Appointment of the Agent. Each Lender irrevocably appoints the Agent as its agent for the purposes of this Agreement and such of the Security Documents to which it may be appropriate for the Agent to be party. Accordingly each of the Lenders hereby authorise the Agent: 16.1.1 to execute such documents as may be approved by the Majority Lenders for execution by the Agent; and 16.1.2 (whether or not by or through employees or agents) to take such action on such Lender’s behalf and to exercise such rights, remedies, powers and discretions as are specifically delegated to the Agent by any Security Document, together with such powers and discretions as are reasonably incidental thereto.
Appears in 14 contracts
Samples: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Pyxis Tankers Inc.), Facility Agreement (Navios Maritime Partners L.P.)
Appointment of the Agent. Each Lender irrevocably appoints the Agent as its agent for the purposes of this Agreement and such of the Security Documents to which it may be appropriate for the Agent to be party. Accordingly each of the Lenders hereby authorise authorises the Agent:
16.1.1 to execute such documents as may be approved by the Majority Lenders for execution by the Agent; and
16.1.2 (whether or not by or through employees or agents) to take such action on such Lender’s behalf and to exercise such rights, remedies, powers and discretions as are specifically delegated to the Agent by any Security Document, together with such powers and discretions as are reasonably incidental thereto.
Appears in 2 contracts
Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Holdings Inc.)
Appointment of the Agent. Each Lender irrevocably appoints the Agent as its agent for the purposes of this Agreement and such of the Security Documents to which it may be appropriate for the Agent to be party. Accordingly each of the Lenders hereby authorise the Agent:
16.1.1 to execute such documents as may be approved by the Majority Lenders for execution by the Agent; and
16.1.2 (whether or not by or through employees or agents) to take such action on such Lender’s behalf and to exercise such rights, remedies, powers and discretions as are specifically delegated to the Agent by any Security Document, together with such powers and discretions as are reasonably incidental thereto.
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
