Common use of Borrower’s Rights Clause in Contracts

Borrower’s Rights. The provisions of this Article X are solely for the benefit of Administrative Agent and the Lenders, and Borrower shall not have any rights to rely on, enforce or consent to any waiver, modification or amendment of, any of the provisions hereof; provided, however, that Borrower (a) acknowledges and agrees to the limitations set forth in Section 11.02(c) hereof on Administrative Agent’s ability to act unilaterally with respect to this Agreement, the other Loan Documents or the Project Documents, and (b) agrees that Administrative Agent’s inability to deliver any consent to, or approval of, an action requested by Borrower due to lack of appropriate Required Lender consent in accordance with the provisions of Section 11.02(c) hereof or the Agreement Among Lenders shall not constitute an unreasonable withholding or delay by Administrative Agent in the giving of such consent or approval. Notwithstanding the foregoing, Borrower shall be entitled to rely on consents and approvals executed by Administrative Agent without investigation as to the existence of proper Lender authorization. As among Administrative Agent and the Lenders, the provisions of this Article 10 may be amended, waived or otherwise modified by Administrative Agent and the Lenders without Borrower’s consent and without the need for Borrower to be party to any of the same.

Appears in 4 contracts

Samples: Loan and Security Agreement (Varian Medical Systems Inc), Loan and Security Agreement (Varian Medical Systems Inc), Loan and Security Agreement (Varian Medical Systems Inc)

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Borrower’s Rights. The provisions of this Article X 12 that do not explicitly affect the rights or obligations of Borrower are solely for the benefit of Administrative Agent and the Lenders, and Borrower shall not have any rights to rely on, enforce or consent to any waiver, modification or amendment of, any of the provisions hereofsuch provisions; provided, however, that Borrower (a) shall have the right to consent to any waiver, modification or amendment of any provision of the above referenced subparagraphs of Article 12 that affect the rights or obligations of Borrower or any other Loan Party, (b) acknowledges and agrees to the limitations set forth in Section 11.02(c9.11(c) hereof on Administrative Agent’s ability to act unilaterally with respect to this Agreement, Agreement and the other Loan Documents or the Project Documents, and (bc) agrees that Administrative Agent’s inability to deliver any consent to, or approval of, an action requested by Borrower due to lack of appropriate Required Lender consent in accordance with the provisions of Section 11.02(c9.11(c) hereof or the Agreement Among Lenders shall not constitute an unreasonable withholding or delay by Administrative Agent in the giving of such consent or approval. Notwithstanding the foregoing, Borrower shall be entitled to rely on consents and approvals executed by Administrative Agent without investigation as to the existence of proper Lender authorization. As among Administrative Agent and the Lenders, the provisions of this Article 10 may be amended, waived or otherwise modified by Administrative Agent and the Lenders without Borrower’s consent and without the need for Borrower to be party to any of the same.

Appears in 2 contracts

Samples: Borrowing Base Revolving Line of Credit Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.), Borrowing Base Revolving Line of Credit Agreement (Cole Credit Property Trust III, Inc.)

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Borrower’s Rights. The Except for the provisions of this Article X 14 which expressly grant Borrower any rights, the provisions of this Article 14 are solely for the benefit of Administrative Agent and the Lenders, and Borrower shall not have any rights to rely on, enforce or consent to any waiver, modification or amendment of, any of the provisions hereof; provided, however, that Borrower (a) acknowledges and agrees to the limitations set forth in Section 11.02(c12.2(1) hereof on Administrative Agent’s ability to act unilaterally with respect to this Agreement, Agreement or the other Loan Documents or the Project Documents, and (b) agrees that Administrative Agent’s inability to deliver any consent to, or approval of, an action requested by Borrower due to lack of appropriate Required Lender consent where Lender consent is required in accordance with the provisions of Section 11.02(c12.2(1) hereof or the Agreement Among Lenders shall not constitute an unreasonable withholding or delay by Administrative Agent in the giving of such consent or approval. Notwithstanding the foregoing, Borrower Xxxxxxxx shall be entitled to rely on consents and approvals executed by Administrative Agent without investigation as to the existence of proper Lender authorization. As among Administrative Agent and the Lenders, the provisions of this Article 10 may be amended, waived or otherwise modified by Administrative Agent and the Lenders without Borrower’s consent and without the need for Borrower to be party to any of the same.Section 14.13

Appears in 1 contract

Samples: Loan Agreement (Alexanders Inc)

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