Common use of Appointment of the Facility Agent Clause in Contracts

Appointment of the Facility Agent. (a) Each of the Lenders appoints the Facility Agent to act as its agent under and in connection with the Finance Documents. (b) Each of the Lenders authorises the Facility Agent to exercise the rights, powers, authorities and discretions specifically given to the Facility Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. (c) Each Finance Party (other than the Facility Agent) hereby relieves the Facility Agent from the restrictions pursuant to Section 181 of the German Civil Code (Bürgerliches Gesetzbuch) and similar restrictions applicable to it pursuant to any other law, in each case to the extent legally possible to it. A Finance Party that is barred by its constitutional documents or by-laws from granting such exemption shall notify the Facility Agent accordingly.