Powers, Duties and Rights of the Guarantee Trustee
Powers, Duties. And Rights Of Trustee
Powers, Duties. The Board of Managers shall have the power to do any and all acts necessary, convenient or incidental to or for the furtherance of the purposes described herein. The Board of Managers has the authority to bind the Company. The Managers shall have a fiduciary duty of loyalty and care similar to that of a director of a business corporation organized under the General Corporation Law of the State of Delaware.
Powers, Duties. Each Lender irrevocably authorizes Agent to deal and communicate with Borrower on such Lender's behalf in all respects under and in connection with the Loan Documents. Borrower shall have no obligation to recognize or deal directly with Lenders nor to comply with any demand or requirement made by any Lender (other than through Agent), and no Lender shall deal directly with Borrower with respect to the rights, benefits and obligations of Borrower under the Loan Documents or any one or more documents or instruments in respect thereof. Borrower shall be entitled to rely conclusively on the actions of Agent as agent to bind Lenders, notwithstanding that the particular action in question may, pursuant to the terms of such agreements as may exist from time to time among the Agent and Lenders, be subject, as among the Agent and Lenders, to the approval or direction of Lenders or any specified percentage of Lenders. Agent may exercise its powers, rights and remedies and perform its duties hereunder by or through its agents or employees. Agent shall not have, by reason of this Agreement or any of the other Loan Documents, a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement or any of the other Loan Documents except as expressly set forth herein or therein.
Powers, Duties and Rights of the -------------------------------- Guarantee Trustee -----------------
Powers, Duties. Each of the officers of the Corporation elected by the Board or appointed by an officer in accordance with these Bylaws shall have the powers and duties prescribed by applicable law, by these Bylaws or by the Board and, in the case of appointed officers, the powers and duties prescribed by the appointing officer, and, unless otherwise prescribed by these Bylaws or by the Board or such appointing officer, shall have such further powers and duties as ordinarily pertain to that office.
Powers, Duties. 52 10.2.2 Agent Entitled to Act as Lender.............. 52 10.3 Representations and Warranties; No Responsibility for Appraisal of Creditworthiness..................... 53 10.4
Powers, Duties. The Commission, insofar as permitted by law, shall have the following powers and duties:
Powers, Duties and Functions of the OCWCOG Consistent with this agreement and state law, OCWCOG may:
Powers, Duties. Specified Each Lender irrevocably authorizes Administrative Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Loan Documents as are specifically delegated or granted to Administrative Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Administrative Agent shall have only those duties and responsibilities that are expressly specified in this Agreement and the other Loan Documents. Administrative Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. Administrative Agent shall not have, by reason of this Agreement or any of the other Loan Documents, a fiduciary relationship in respect of any Lender or Company; and nothing in this Agreement or any of the other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon Administrative Agent any obligations in respect of this Agreement or any of the other Loan Documents except as expressly set forth herein or therein.
