Facility Agent’s Approval Sample Clauses
The Facility Agent’s Approval clause defines the requirement for the facility agent’s consent before certain actions or decisions can be taken under a finance agreement. Typically, this means that the borrower or other parties must obtain written approval from the facility agent before making amendments, waivers, or taking steps that could affect the rights or obligations of the lenders. For example, changes to repayment schedules or collateral arrangements may require the facility agent’s sign-off. This clause ensures centralized oversight and coordination, preventing unauthorized changes and protecting the interests of all lenders involved.
Facility Agent’s Approval. All the documents and evidence referred to in Clause 3.1 shall be in form and substance satisfactory to the Facility Agent and shall be supplied in such number of copies or counterparts as the Facility Agent may require. Copies required to be certified shall be certified in a manner satisfactory to the Facility Agent by a director or responsible officer of the Borrower or other party concerned.