Common use of Authorization to Act as the Borrower’s Agent Clause in Contracts

Authorization to Act as the Borrower’s Agent. The Borrower hereby appoints the Servicer as its agent for the following purposes: (i) selecting the amount of each requested Loan and executing Borrowing Requests on behalf of the Borrower, (ii) making transfers among, deposits to and withdrawals from all deposit accounts of the Borrower for the purposes described in the Transaction Documents, (iii) arranging payment by the Borrower of all Fees, expenses, other Obligations and other amounts payable under the Transaction Documents, (iv) causing the repayment and prepayment of the Loans as required and permitted pursuant to Section 4.1 and (v) executing and preparing the Monthly Reports; provided, however, that the Servicer shall act in such capacity only as an agent of the Borrower and shall incur thereby no additional obligations with respect to any Loan, and nothing herein shall be deemed to authorize the Servicer to take any action as the Borrower’s agent which the Borrower is precluded from taking itself. The Borrower irrevocably agrees that (A) it shall be bound by all proper actions taken by the Servicer pursuant to the preceding sentence, and (B) the Administrator, the Lender and the banks holding all deposit accounts of the Borrower are entitled to accept submissions, determinations, selections, specifications, transfers, deposits and withdrawal requests, and payments from the Servicer on behalf of the Borrower.

Authorization to Act as the Borrower’s Agent. The Borrower hereby appoints the Servicer as its agent for the following purposes: (i) selecting the amount of each requested Loan or Letter of Credit and executing Borrowing Requests and Letter of Credit Requests on behalf of the Borrower, (ii) making transfers among, deposits to and withdrawals from all deposit accounts of the Borrower for the purposes described in the Transaction Documents, (iii) arranging payment by the Borrower of all Fees, expenses, other Obligations and other amounts payable under the Transaction Documents, (iv) causing the repayment and prepayment of the Loans as required and permitted pursuant to Section 4.1 and (v) executing and preparing the Monthly Reports; provided, however, that the Servicer shall act in such capacity only as an agent of the Borrower and shall incur thereby no additional obligations with respect to any Loan, and nothing herein shall be deemed to authorize the Servicer to take any action as the Borrower’s agent which the Borrower is precluded from taking itself. The Borrower irrevocably agrees that (A) it shall be bound by all proper actions taken by the Servicer pursuant to the preceding sentence, and (B) the Issuing Lender the Administrator, the Lender Lenders and the banks holding all deposit accounts of the Borrower are entitled to accept submissions, determinations, selections, specifications, transfers, deposits and withdrawal requests, and payments from the Servicer on behalf of the Borrower.

Authorization to Act as the Borrower’s Agent. The Borrower hereby appoints the Servicer as its agent for the following purposes: (i) selecting the amount of each requested Loan and executing Borrowing Requests on behalf of the Borrower, (ii) making transfers among, deposits to and withdrawals from all deposit accounts of the Borrower for the purposes described in the Transaction Documents, (iii) arranging payment by the Borrower of all Fees, expenses, other Obligations and other amounts payable under the Transaction Documents, (iv) causing the repayment and prepayment of the Loans as required and permitted pursuant to Section 4.1 and (v) executing and preparing the Monthly ReportsReports and Borrowing Base Certificates; provided, however, that the Servicer shall act in such capacity only as an agent of the Borrower and shall incur thereby no additional obligations with respect to any Loan, and nothing herein shall be deemed to authorize the Servicer to take any action as the Borrower’s agent which the Borrower is precluded from taking itself. The Borrower irrevocably agrees that (A) it shall be bound by all proper actions taken by the Servicer pursuant to the preceding sentence, and (B) the Administrator, the Lender and the banks holding all deposit accounts of the Borrower are entitled to accept submissions, determinations, selections, specifications, transfers, deposits and withdrawal requests, and payments from the Servicer on behalf of the Borrower.

Authorization to Act as the Borrower’s Agent. The Borrower hereby appoints the Servicer as its agent for the following purposes: (i) selecting the amount of each requested Loan and executing Borrowing Requests on behalf of the Borrower, (ii) making transfers among, deposits to and withdrawals from all deposit accounts of the Borrower for the purposes described in the Transaction Documents, (iii) arranging payment by the Borrower of all Fees, expenses, other Obligations and other amounts payable under the Transaction Documents, (iv) causing the repayment and prepayment of the Loans as required and permitted pursuant to Section 4.1 and (v) executing and preparing the Monthly Reports; provided, however, that the Servicer shall act in such capacity only as an agent of the Borrower and shall incur thereby no additional obligations with respect to any Loan, and nothing herein shall be deemed to authorize the Servicer to take any action as the Borrower’s agent which the Borrower is precluded from taking itself. The Borrower irrevocably agrees that (A) it shall be bound by all proper actions taken by the Servicer pursuant to the preceding sentence, and (B) the Administrator, the Lender Lenders and the banks holding all deposit accounts of the Borrower are entitled to accept submissions, determinations, selections, specifications, transfers, deposits and withdrawal requests, and payments from the Servicer on behalf of the Borrower.