Common use of Duties of the Administrative Agent Clause in Contracts

Duties of the Administrative Agent. (a) The Administrative Agent shall promptly forward to a Party the original or a copy of any document (including, but not limited to, the Parent’s annual financial statements) which is delivered to the Administrative Agent for that Party by any other Party. (b) The Administrative Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. (c) If the Administrative Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties. (d) If the Administrative Agent is aware of the non-payment of any principal, interest or fee payable to a Finance Party (other than the Administrative Agent or the Security Agent) under this Agreement it shall promptly notify the other Finance Parties. (e) The Administrative Agent’s duties under the New Finance Documents are solely mechanical and administrative in nature.

Duties of the Administrative Agent. (a) The Administrative Agent shall promptly forward to a Party the original or a copy of any document (including, but not limited to, the Parent’s annual financial statements) which is delivered to the Administrative Agent for that Party by any other Party. (b) The Except where a Finance Document specifically provides otherwise, the Administrative Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. (c) If the Administrative Agent receives notice from a Party referring to this Agreement, describing a Default an Event of Non-compliance and stating that the circumstance described is a Defaultan Event of Non-compliance, it shall promptly notify the other Finance PartiesLenders. (d) If the Administrative Agent is aware of the non-payment of any principal, interest interest, commitment fee or other fee payable to a Finance Party (other than the Administrative Agent or the Security Agent) under this Agreement it shall promptly notify the other Finance Parties. (e) The Administrative Agent’s 's duties under the New Finance Documents are solely mechanical and administrative in nature.