Common use of Continuation of Authority of Agent Clause in Contracts

Continuation of Authority of Agent. The authority of the Agent to request Loans on behalf of, and to bind, each Borrower, shall continue unless and until Silicon acts as provided in Section 1.8, above, or Silicon actually receives: (a) written notice of: (i) the termina­tion of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed by the respective Presidents of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this Agreement; and (b) written notice from the successor Agent (i) accept­ing such appointment; (ii) acknowledging that the removal and appoint­ment has been effected by the respective Presidents of each Borrower eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “Agent” shall mean and include the newly appointed Agent.

Continuation of Authority of Agent. The authority of the Agent to request Loans on behalf of, and to bind, each Borrower, shall continue unless and until Silicon acts as provided in Section 1.81.10, above, or Silicon actually receives: (a) written notice of: (i) the termina­tion termination of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed by the respective Presidents of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this Agreement; and (b) written notice from the successor Agent (i) accept­ing accepting such appointment; (ii) acknowledging that the removal and appoint­ment appointment has been effected by the respective Presidents of each Borrower eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “"Agent” " shall mean and include the newly appointed Agent.

Continuation of Authority of Agent. The authority of the Agent to request Loans on behalf of, and to bind, each Borrower, shall continue unless and until Silicon acts as provided in Section 1.81.10, above, or Silicon actually receives: (a) written notice of: (i) the termina­tion termination of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed by the respective Presidents Officers of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this Agreement; and (b) written notice from the successor Agent (i) accept­ing accepting such appointment; (ii) acknowledging that the removal and appoint­ment appointment has been effected by the respective Presidents Officers of each Borrower eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “"Agent” " shall mean and include the newly appointed Agent.

Continuation of Authority of Agent. The authority of the Agent to request Loans loans on behalf of, and to bind, each Borrowerthe Borrowers, shall continue unless and until Silicon the Lender acts as provided in Section 1.81-3, above, or Silicon the Lender actually receives: (a) written notice of: (i) the termina­tion termination of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed signed by the respective Presidents of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this the within Agreement; and (b) written notice from the successor such successive Agent (i) accept­ing accepting such appointment; (ii) acknowledging that the such removal and appoint­ment appointment has been effected by the respective Presidents of each Borrower such Borrowers eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of such appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “"Agent” " shall mean and include the newly appointed Agent.

Continuation of Authority of Agent. The authority of the Agent to request Loans on behalf of, and to bind, each Borrower, shall continue unless and until Silicon acts as provided in Section 1.8, above, or Silicon actually receives: (a) written notice of: (i) the termina­tion termination of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed by the respective Presidents of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this Agreement; and (b) written notice from the successor Agent (i) accept­ing accepting such appointment; (ii) acknowledging that the removal and appoint­ment appointment has been effected by the respective Presidents of each Borrower eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “"Agent” " shall mean and include the newly appointed Agent.

Continuation of Authority of Agent. The authority of the Agent to request Loans Credit Extensions on behalf of, and to bind, each Borrower, shall continue unless and until Silicon the Bank acts as provided in Section 1.81.4, above, or Silicon the Bank actually receives: (a) written notice of: (i) the termina­tion termination of such authority, and (ii) the subsequent appointment of a successor Agent, which notice is executed by the respective Presidents of each Borrower (other than the President of the Agent being replaced) then eligible for borrowing under this Agreement; and (b) written notice from the successor Agent (i) accept­ing accepting such appointment; (ii) acknowledging that the removal and appoint­ment appointment has been effected by the respective Presidents of each Borrower eligible for borrowing under the within Agreement; and (iii) acknowledging that from and after the date of appointment, the newly appointed Agent shall be bound by the terms hereof, and that as used herein, the term “"Agent” " shall mean and include the newly appointed Agent.