Powers and Discretions Sample Clauses
The "Powers and Discretions" clause defines the authority and flexibility granted to a party, typically an agent, trustee, or manager, to make decisions and take actions as they see fit within the scope of the agreement. This clause often outlines the specific powers conferred, such as the ability to invest assets, manage property, or make operational decisions, and may clarify whether these actions require consultation or can be taken independently. Its core practical function is to provide clarity and legal certainty about the extent of decision-making authority, reducing ambiguity and potential disputes over what actions are permitted under the contract.
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Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇ (to the extent not inconsistent herewith) and by way of supplement it is expressly declared as follows:
28.15.1 the Agent shall be at liberty to place any of the Finance Documents and any other instruments, documents or deeds delivered to it pursuant thereto or in connection therewith for the time being in its possession in any safe deposit, safe or receptacle selected by the Agent or with any bank, any Guarantor whose business includes undertaking the safe custody of documents or any firm of lawyers of good repute;
28.15.2 the Agent may, whenever it thinks fit, delegate by power of attorney or otherwise to any person or persons or fluctuating body of persons all or any of the rights, trusts, powers, authorities and discretions vested in it by any of the Finance Documents and such delegation may be made upon such terms and subject to such conditions (including the power to sub-delegate) and subject to such regulations as the Agent may think fit and the Agent shall not be bound to supervise, or be in any way responsible for any loss incurred by reason of any misconduct or default on the part of, any such delegate (or sub-delegate);
28.15.3 notwithstanding anything else herein contained, the Agent may refrain from doing anything which would or might in its opinion be contrary to any law of any jurisdiction or any directive or regulation of any agency of any state or which would or might otherwise render it liable to any person and may do anything which is, in its opinion, necessary to comply with any such law, directive or regulation;
28.15.4 save in the case of gross negligence or wilful misconduct, the Agent and every attorney, agent, delegate, sub-delegate and any other person appointed by any of them under any of the Finance Documents may indemnify itself or himself out of the security held by the Agent against all liabilities, costs, fees, charges, losses and expenses incurred by any of them in relation to or arising out of the taking or holding of any of the security constituted by, or any of the benefits provided by, any of the Finance Documents, in the exercise or purported exercise of the rights, trusts, powers and discretions vested in any of them or in respect of any other matter or thing done or omitted to be done in any way relating to any of the Finance Documents or pursuant to any law or regulation; and
28.15.5 without prejudice to the provision...
Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇ (to the extent not inconsistent herewith) and by way of supplement it is expressly declared as follows:
Powers and Discretions. To the extent not inconsistent with this Deed, the ---------------------- Security Agent shall have the powers and discretions conferred upon trustees by the Trustee ▇▇▇ ▇▇▇▇.
Powers and Discretions. 18.1 Zokal may exercise any right, function, power or discretion under this agreement in its absolute discretion. Zokal may give conditionally or unconditionally or withhold its approval in its absolute discretion unless this agreement expressly says otherwise.
Powers and Discretions. Save as expressly provided in this deed.
(a) until the security hereby constituted shall have become enforceable the Administrative Agent shall in granting any consent or waiver or exercising any power, trust, authority or discretion vested in it under the Security Documents, act as it in its reasonable discretion shall think fit, in which case it shall be in no way responsible for any loss, costs, damages or expenses which may result from the exercise of non-exercise thereof save in the case of its own negligence or wilful misconduct; and
Powers and Discretions. The rights, powers and discretions given to the Lender in this Guarantee and Debenture:-
13.1.1 may be exercised as often as and in such manner as, the Lender thinks fit;
13.1.2 are cumulative, and are not exclusive of any of its rights under the general law; and
13.1.3 may only be waived in writing and specifically, and any delay in exercising, or non- exercise of, any right, is not a waiver of it.
Powers and Discretions. The Agent shall have all the powers and discretions conferred upon trustees by the Trustee Act 1925 (to the extent not inconsistent herewith) and by way of s▇▇▇▇▇▇▇▇t it is expressly declared as follows: