Common use of Borrowing Agency Provisions Clause in Contracts

Borrowing Agency Provisions. (a) Each Loan Party hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with Issuer upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other Documents, all on behalf of and in the name such Loan Party or Loan Parties, and hereby authorizes Administrative Agent and Term Loan B Agent, as applicable, to pay over or credit all loan proceeds hereunder in accordance with the request of Borrowing Agent.

Appears in 2 contracts

Samples: Security Agreement (A.S.V., LLC), Security Agreement (Manitex International, Inc.)

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Borrowing Agency Provisions. (a) Each Loan Party Borrower hereby irrevocably designates Borrowing Agent the Lead Borrower to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with any Issuer upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other other Credit Documents, all on behalf of and in the name such Loan Party Borrower or Loan PartiesBorrowers, and hereby authorizes the Administrative Agent and Term Loan B Agent, as applicable, to pay over or credit all loan proceeds hereunder in accordance with the request of Borrowing Agentthe Lead Borrower.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (Xerium Technologies Inc)

Borrowing Agency Provisions. (a) Each Loan Party Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with Issuer upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other Documents, all on behalf of and in the name such Loan Party Borrower or Loan PartiesBorrowers, and hereby authorizes Administrative Agent and Term Loan B Agent, as applicable, to pay over or credit all loan proceeds hereunder in accordance with the request of Borrowing Agent.. 118

Appears in 1 contract

Samples: Security Agreement (UniTek Global Services, Inc.)

Borrowing Agency Provisions. (a) Each Loan Party Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with Issuer the issuer thereof upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other other Loan Documents, all on behalf of and in the name such Loan Party Borrower or Loan PartiesBorrowers, and hereby authorizes Administrative Agent and Term Loan B Agent, as applicable, Lender to pay over or credit all loan Loan proceeds hereunder in accordance with the request of Borrowing Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (New Age Beverages Corp)

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Borrowing Agency Provisions. (a) 12.1.1 Each Loan Party Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with Issuer upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other Loan Documents, all on behalf of and in the name such Loan Party Borrower or Loan PartiesBorrowers, and hereby authorizes Administrative Agent and Term Loan B Agent, as applicable, to pay over or credit all loan proceeds hereunder in accordance with the request of Borrowing Agent.. 150

Appears in 1 contract

Samples: Credit Agreement (Steel Partners Holdings L.P.)

Borrowing Agency Provisions. (a) 12.1.1 Each Loan Party Borrower hereby irrevocably designates Borrowing Agent to be its attorney and agent and in such capacity to (i) borrow, (ii) request advances, (iii) request the issuance of Letters of Credit, (iv) sign and endorse notes, (v) execute and deliver all instruments, documents, applications, security agreements, reimbursement agreements and letter of credit agreements for Letters of Credit and all other certificates, notice, writings and further assurances now or hereafter required hereunder, (vi) make elections regarding interest rates, (vii) give instructions regarding Letters of Credit and agree with Issuer upon any amendment, extension or renewal of any Letter of Credit and (viii) otherwise take action under and in connection with this Agreement and the Other Loan Documents, all on behalf of and in the name such Loan Party Borrower or Loan PartiesBorrowers, and hereby authorizes Administrative Agent and Term Loan B Agent, as applicable, to pay over or credit all loan proceeds hereunder in accordance with the request of Borrowing Agent.

Appears in 1 contract

Samples: Credit Agreement (Steel Partners Holdings L.P.)

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