Common use of AUTHORIZATION OF ADMINISTRATIVE AGENT WITH RESPECT TO THE SECURITY DOCUMENTS Clause in Contracts

AUTHORIZATION OF ADMINISTRATIVE AGENT WITH RESPECT TO THE SECURITY DOCUMENTS. (a) Each Lender hereby authorizes the Administrative Agent in its capacity as Collateral Agent to enter into each of the Security Documents substantially in the form attached hereto, and to take all action contemplated thereby. All rights and remedies under the Security Documents may be exercised by the Administrative Agent for the ratable benefit of the Secured Parties. The Lenders further agree that the Administrative Agent may assign its rights and obligations under any of the Security Documents to any affiliate of the Administrative Agent or to any trustee, if necessary or appropriate under applicable law, which assignee in each such case shall (subject to compliance with any requirements of applicable law governing the assignment of such Security Documents) be entitled to all the rights of the Administrative Agent under and with respect to the applicable Security Document.

AUTHORIZATION OF ADMINISTRATIVE AGENT WITH RESPECT TO THE SECURITY DOCUMENTS. (a) Each Lender hereby authorizes the Administrative Agent in its capacity as Collateral Agent to enter into each of the Security Documents substantially in the form attached hereto, and to take all action contemplated thereby. All rights and remedies under the Security Documents may be exercised by the Administrative Agent for the ratable benefit of the Secured PartiesAdministrative Agent and the Lenders and the other beneficiaries thereof upon the terms thereof. The Lenders further agree that the Administrative Agent may assign its rights and obligations under any of the Security Documents to any affiliate of the Administrative Agent or to any trustee, if necessary or appropriate under applicable law, which assignee in each such case shall (subject to compliance with any requirements of applicable law governing the assignment of such Security Documents) be entitled to all the rights of the Administrative Agent under and with respect to the applicable Security Document.