Common use of Designation of Lead Borrower as Borrowers’ Agent Clause in Contracts

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to the Agent and Lenders on account of loans and advances so made as if made directly by the Agent or Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mothers Work Inc), Loan and Security Agreement (Mothers Work Inc)

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Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s 's agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to the Agent and Lenders on account of loans and advances so made as if made directly by the Agent or Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Duckwall Alco Stores Inc)

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s 's agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in this AgreementSection 2.1(b)(iii). As the disclosed principal for its agent, each Borrower shall be obligated to the Agent and Lenders Lender on account of loans and advances so made under the Revolving Credit as if made directly by the Agent or Lenders Lender to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Appears in 1 contract

Samples: Alloy Inc

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s agent to obtain loans and advances under the Revolving CreditTerm Loan, the proceeds of which shall be available to each Borrower for those uses as those set forth in this Agreement. As the disclosed principal for its agent, each Borrower shall be obligated to the Term Agent and Term Lenders on account of loans and advances the Term Loan so made as if made directly by the Term Agent or Term Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Mothers Work Inc)

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Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s 's agent to obtain loans and advances under the Revolving CreditWorking Capital Loans hereunder, the proceeds of which shall be available to each Borrower for those the same uses as those set forth in this AgreementSection 2.1(h), above. As the disclosed principal for its agent, each Borrower shall be obligated to the Agent Agents and the Lenders on account of loans and advances so made Working Capital Loans as if made directly by the Agent or Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any other Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Restoration Hardware Inc)

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower’s 's agent to obtain loans and advances under the Revolving CreditWorking Capital Loans hereunder, the proceeds of which shall be available to each Borrower for those the same uses as those set forth in this AgreementSection 2.1(f), above. As the disclosed principal for its agent, each Borrower shall be obligated to the Agent Agents and the Lenders on account of loans and advances so made Working Capital Loans as if made directly by the Agent or Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any other Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Mazel Stores Inc)

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