Common use of Delegation of Rights and Duties Clause in Contracts

Delegation of Rights and Duties. Agent may delegate or exercise any of its rights, powers and remedies hereunder or under any other Loan Document, and delegate or perform any and all of its duties hereunder or under any other Loan Document by or through any one or more sub-agents (including any Secured Party) appointed by Agent. Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Persons. The exculpatory provisions of this Article VIII shall apply to any such sub-agent and to the Related Persons of Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent. Agent shall not be responsible for the negligence or misconduct of any sub-agents, except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.