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

Appointment of the Facility Agent and the Security Agent. (a) Each other Finance Party appoints the Facility Agent to act as its agent under and in connection with the Finance Documents. (b) Each other Finance Party appoints the Security Agent to act as security agent under and in connection with the Finance Documents. (c) Each other Finance Party authorises the Facility Agent and the Security Agent to exercise the rights, powers, authorities and discretions specifically given to it under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions subject to the Sinosure Cover.

Appointment of the Facility Agent and the Security Agent. (a) Each other Finance Party appoints the Facility Agent to act as its agent under and in connection with the Finance Documents. (b) Each other Finance Party appoints the Security Agent to act as security agent under and in connection with the Finance Documents. (c) Each other Finance Party authorises the Facility Agent and the Security Agent to exercise the rights, powers, authorities and discretions specifically given to it under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions subject to the Sinosure COFACE Cover.