Common use of Execution of Loan Documents Clause in Contracts

Execution of Loan Documents. The Lenders hereby empower and authorize the Agent, on behalf of the Agent and the Lenders, to execute and deliver to the Loan Parties the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents. Each Lender agrees that any action taken by the Agent or the Required Lenders in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required Lenders of their respective powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that all of the Obligations hereunder constitute one debt, secured pari passu by all of the Collateral.

Appears in 9 contracts

Samples: Credit Agreement (Action Performance Companies Inc), Credit Agreement (Park Ohio Holdings Corp), Credit Agreement (Brush Engineered Materials Inc)

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Execution of Loan Documents. The Lenders Borrowers (other than the Company) hereby empower and authorize the AgentCompany, on behalf of the Agent and the Lenderssuch Borrowers, to execute and deliver to the Loan Parties Administrative Agent and the Lenders the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents. Each Lender Borrower agrees that any action taken by the Agent Company or the Required Lenders Borrowers in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required Lenders Company of their respective its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that all of the Obligations hereunder constitute one debt, secured pari passu by all of the CollateralBorrowers.

Appears in 3 contracts

Samples: Credit Agreement (Valmont Industries Inc), Credit Agreement (Valmont Industries Inc), Credit Agreement (Valmont Industries Inc)

Execution of Loan Documents. The Lenders hereby empower and authorize the Agent, on behalf of the Agent and the Lenders, to execute and deliver to the Loan Parties the Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents. Each Lender agrees that any action taken by the Agent or the Required Lenders in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required Lenders of their respective powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that all of the Obligations hereunder constitute one debt, secured pari passu by all of the Collateral.. A&R CREDIT AGREEMENT

Appears in 1 contract

Samples: Credit Agreement (Newpark Resources Inc)

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Execution of Loan Documents. The Lenders hereby empower and authorize the Agent, on behalf of the Agent and the Lenders, to execute and deliver to the Loan Parties the other Loan Documents and all related agreements, certificates, documents, or instruments as shall be necessary or appropriate to effect the purposes of the Loan Documents. Each Lender agrees that any action taken by the Agent or the Required Lenders in accordance with the terms of this Agreement or the other Loan Documents, and the exercise by the Agent or the Required Lenders of their respective powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of the Lenders. The Lenders acknowledge that all of the Obligations hereunder constitute one debt, secured pari passu by all of the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Jaco Electronics Inc)

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