Borrowers’ process agent Clause Samples
The Borrowers’ process agent clause designates a specific individual or entity to receive legal documents on behalf of the borrower in the event of legal proceedings. Typically, this clause is used when the borrower is based in a different jurisdiction from the lender, requiring a local representative to accept service of process, such as court summons or legal notices. By appointing a process agent, the clause ensures that legal communications are reliably delivered, thereby facilitating the enforcement of contractual rights and reducing the risk of missed or delayed legal notifications.
Borrowers’ process agent from each Borrower’s agent for receipt of service of proceedings referred to in clause 18.2 accepting its appointment under the said clause and under each of the other Security Documents referred to in this Part 1 and in which it is or is to be appointed as such Borrower’s agent;
Borrowers’ process agent a copy, certified as a true copy by the Borrower’s solicitors of a letter from the Borrower’s agent for receipt of service of proceedings accepting its appointment under the Security Documents in which it is or is to be appointed as such agent; and
Borrowers’ process agent from the Borrower's agent for receipt of service of proceedings referred to in clause 17.2 accepting its appointment under the said clause and under each of the other Security Documents in which it is or is to be appointed as the Borrower's agent;
Borrowers’ process agent a letter from the Borrower’s agent for receipt of service of proceedings referred to in Clause 32.2 accepting its appointment under the said ▇▇▇▇▇▇ and under each of the other Finance Documents in which it is or is to be appointed as the Borrower’s agent and referred to in this Part A;
Borrowers’ process agent from the agent of the Borrower owning the Ship relevant to such Advance, for receipt of service of proceedings referred to in each of the relevant Ship Security Documents in which it is or is to be appointed as such Borrower’s agent, accepting its appointment thereunder;
Borrowers’ process agent. The Borrower irrevocably appoints Law Debenture Corporate Services Limited (the “Borrower’s Agent”), now of ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, as its agent to accept service of process in England in any Dispute (whether that Dispute is to be resolved by arbitration or litigation), provided that:
17.5.1 service upon the Borrower’s Agent shall be deemed valid service upon the Borrower whether or not the process is forwarded to or received by the Borrower;
17.5.2 the Borrower shall inform all other parties to this Agreement and the Trustee, in writing, of any change in the address of the Borrower’s Agent within 28 days of such change;
17.5.3 if the Borrower’s Agent ceases to be able to act as a process agent or to have an address in England, the Borrower irrevocably agrees to appoint a new process agent in England acceptable to the other parties to this Agreement and the Trustee and to deliver to the other parties to this Agreement and the Trustee within 14 days a copy of a written acceptance of appointment by the new process agent; and
17.5.4 nothing in this Agreement shall affect the right to serve process in any other manner permitted by law.