Common use of Delegation of Authority to Agent Clause in Contracts

Delegation of Authority to Agent. Without limiting the generality of SECTION 10, each Lender expressly authorizes Agent to determine on behalf of such Lender the creation or elimination of any reserves (other than the reserves established with respect to Letter of Credit Obligations) against the Revolving Credit Facility. Such authorization may be withdrawn by the Required Lenders by giving Agent written notice of such withdrawal signed by the Required Lenders; PROVIDED, HOWEVER, that unless otherwise agreed by Agent such withdrawal of authorization shall not become effective until the thirtieth (30th) Business Day after receipt of such notice by Agent. Thereafter, the Required Lenders shall jointly instruct Agent in writing regarding such matters with such frequency as the Required Lenders shall jointly determine.