Authority of Agent. Each Lender acknowledges that the rights and responsibilities of Agent under this Agreement and the Loan Documents with respect to any action taken by Agent or the exercise or non-exercise by Agent of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement and/or the other Loan Documents shall, as between Agent and the Lenders, be governed by this Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between Agent and Borrower, Agent shall be conclusively presumed to be acting as agent for the Lenders with full and valid authority so to act or refrain from acting; and Borrower shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 5 contracts
Samples: Credit Agreement (Oceaneering International Inc), Credit Agreement (Oceaneering International Inc), Loan Agreement (Oceaneering International Inc)
Authority of Agent. Each Lender The Borrower acknowledges that the rights and responsibilities of the Agent under this Agreement and the Loan Documents with respect to any action taken by the Agent or the exercise or non-exercise by the Agent of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement and/or the other Loan Documents shall, as between the Agent and the Lenders, be governed by this the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent and the Borrower, the Agent shall be conclusively presumed to be acting as agent for the Lenders with full and valid authority so to act or refrain from acting; , and the Borrower shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 3 contracts
Samples: Security Agreement (Hanover Compression Inc), Security Agreement (Hanover Compressor Co), Security Agreement (Hanover Compressor Co)
Authority of Agent. Each Lender The Borrower acknowledges that the rights and responsibilities of the Agent under this Agreement and the Loan Documents with respect to any action taken by the Agent or the exercise or non-exercise by the Agent of any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement and/or the other Loan Documents shall, as between the Agent and the Lenders, be governed by this the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent and the Borrower, the Agent shall be conclusively presumed to be acting as agent for the Lenders with full and valid authority so to act or refrain from acting; , and neither the Borrower nor any Issuer shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 2 contracts
Samples: Credit and Guarantee Agreement (Warren S D Co /Pa/), Credit Agreement (Paxson Communications Corp)
Authority of Agent. Each Lender The Borrower acknowledges that the rights and responsibilities of the Agent under this Agreement and the Loan Documents with respect to any action taken by the Agent or the exercise or non-exercise by the Agent of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement and/or the other Loan Documents shall, as between the Agent and the Lenders, be governed by this the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Agent and the Borrower, the Agent shall be conclusively presumed to be acting as agent for the Lenders with full and valid authority so to act or refrain from acting; , and the Borrower shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 1 contract
