Common use of Appointment of the Agents Clause in Contracts

Appointment of the Agents. Each Lender irrevocably appoints the Administrative Agent and the Collateral Agent to exercise on its behalf the rights and powers delegated to the Administrative Agent or the Collateral Agent (as applicable) hereunder and authorizes each Agent to take any action necessary for the performance of its duties. Whenever acting in such capacity, the Agent concerned represents and binds all Lenders.

Appointment of the Agents. Each Lender irrevocably appoints the Administrative Agent and the Collateral Agent to exercise on its behalf the rights and powers delegated to the Administrative Agent or the Collateral Agent (as applicable) hereunder and authorizes each of the Administrative Agent and the Collateral Agent to take any action necessary for the performance of its duties. Whenever acting in such capacity, each of the Administrative Agent concerned and the Collateral Agent represents and binds all Lenders.