Facility Agent and Security Agent Sample Clauses
The 'Facility Agent and Security Agent' clause defines the roles and responsibilities of the agents appointed to administer and oversee the loan facility and the associated security interests. Typically, the Facility Agent acts as the main point of contact between the lenders and the borrower, handling communications, payments, and administrative tasks, while the Security Agent holds and enforces security interests on behalf of the lenders. This clause ensures that there is a clear structure for managing the facility and enforcing security, thereby streamlining administration and protecting the interests of all parties involved.
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Facility Agent and Security Agent. (a) Where there is any reference in this Agreement or any other Finance Document to the Facility Agent or the Security Agent acting reasonably or properly, or doing an act or coming to a determination, opinion or belief that is reasonable or proper, or any similar or analogous reference, the Facility Agent or, as applicable, the Security Agent shall, where they have sought such instructions from the Majority Lenders, be deemed to be acting reasonably and properly or doing an act or coming to a determination, opinion or belief that is reasonable if, as applicable, the Facility Agent or Security Agent acts on the instructions of the Majority Lenders. Where there is in this Agreement or any other Finance Document a provision to the effect that the Facility Agent or the Security Agent is not to unreasonably withhold or delay its consent or approval, it shall be deemed not to have so withheld or delayed its consent or approval if the withholding or delay is caused by instructions being sought from the Majority Lenders and it is not unreasonable for the Majority Lenders to withhold or delay giving their consent or approval.
(b) Any corporation into which the Facility Agent or Security Agent may be merged or converted, or any corporation with which the Facility Agent or Security Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Facility Agent or Security Agent shall be a party, or any corporation, including affiliated corporations, to which the Facility Agent or Security Agent shall sell or otherwise transfer:
(i) all or substantially all of its assets; or
(ii) all or substantially all of its corporate trust business, shall, on such date on which any such merger, conversion, consolidation or transfer becomes effective and to the extent permitted by any applicable laws and subject to any credit rating requirements set out in this Agreement become the successor Facility Agent or Security Agent under this Agreement without the execution or filing of any paper or any further act on the part of the parties to this Agreement, unless otherwise required by the Lenders (acting reasonably), and after the said effective date all references in this Agreement to the Facility Agent or Security Agent shall be deemed to be references to such successor corporation. Written notice of any such merger, conversion, consolidation or transfer shall promptly be given to the Borrowers by the Facility Agent or Security Agent.
Facility Agent and Security Agent. The Security Property is certified to be valued and apportioned as set out below at [insert date]. Fixed Cash Debtors Property Total Percentage Percentage Assets of overall of assets Australian Assets -------------------------------------------------------------------------------------------------- N.S.W. -------------------------------------------------------------------------------------------------- Victoria -------------------------------------------------------------------------------------------------- W.A. -------------------------------------------------------------------------------------------------- S.A. -------------------------------------------------------------------------------------------------- Queensland -------------------------------------------------------------------------------------------------- Tasmania -------------------------------------------------------------------------------------------------- A.C.T. -------------------------------------------------------------------------------------------------- N.T. -------------------------------------------------------------------------------------------------- Overseas -------------------------------------------------------------------------------------------------- Total 100% 100% -------------------------------------------------------------------------------------------------- There has been an [increase/decrease] in the [value of/proportion of] assets located in [specify State or overseas]. For and on behalf of the Borrower ---------------------------------- Authorised Officer
Facility Agent and Security Agent. THE BANK OF NOVA SCOTIA as Facility Agent
Facility Agent and Security Agent. The Security Property is certified to be valued and apportioned as set out below at [insert date]. ========================================================================================================= FIXED CASH DEBTORS PROPERTY TOTAL PERCENTAGE PERCENTAGE ASSETS OF OVERALL OF ASSETS AUSTRALIAN ASSETS ========================================================================================================= N.S.W. --------------------------------------------------------------------------------------------------------- Victoria --------------------------------------------------------------------------------------------------------- W.A. --------------------------------------------------------------------------------------------------------- S.A. --------------------------------------------------------------------------------------------------------- Queensland --------------------------------------------------------------------------------------------------------- Tasmania --------------------------------------------------------------------------------------------------------- A.C.T. --------------------------------------------------------------------------------------------------------- N.T. --------------------------------------------------------------------------------------------------------- Overseas ========================================================================================================= TOTAL 100% 100% ========================================================================================================= There has been an [increase/decrease] in the [value of/proportion of] assets located in [specify State or overseas]. For and on behalf of the Borrower
Facility Agent and Security Agent. (a) Where the Facility Agent or the Security Agent is referred to as acting "reasonably" or "in a reasonable manner" or as coming to an opinion or determination that is "reasonable" (or any similar or analogous wording is used), or acting or exercising any discretion (or refraining from acting or exercising any discretion) this shall mean that the Facility Agent and the Security Agent shall be acting or coming to an opinion or determination on the instructions of the Lenders, the Majority Lenders or Majority Super Senior Facility Lenders (as the case may be) acting reasonably or in a reasonable manner and the Facility Agent and the Security Agent shall be under no obligation to determine the reasonableness of such instructions or whether in giving such instructions the Lenders, the Majority Lenders or Majority Super Senior Facility Lenders (as the case may be) are acting reasonably or in a reasonable manner.
(b) Where acceptability to or satisfaction of the Facility Agent or the Security Agent is referred to in relation to a matter not affecting the personal interests of the Facility Agent or Security Agent (including, for the avoidance of doubt, any satisfaction or determination in relation to conditions precedent) this shall mean the acceptability to or satisfaction of the Lenders, the Majority Lenders or Majority Super Senior Facility Lenders (as the case may be) as notified by it to the Facility Agent or Security Agent.
(c) In respect of paragraphs (a) and (b) above, the Facility Agent and the Security Agent shall not be responsible for any liability occasioned or by any delay or failure on the part of the Lenders, the Majority Lenders or Majority Super Senior Facility Lenders (as the case may be) to give any such instructions or direction or to form any such opinion.
Facility Agent and Security Agent