We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Rights and discretions of the Agent Clause in Contracts

Rights and discretions of the Agent. (a) The Agent may rely on; (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance Parties) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor has not been exercised; and (iii) any notice or request made by the Borrowers (other than a Drawdown Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, the Agent is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty or duty of confidentiality.

Appears in 2 contracts

Samples: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)

Rights and discretions of the Agent. (a) The Agent may rely on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance Parties) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor has not been exercised; and (iii) any notice or request made by the Borrowers (other than a Drawdown Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, the Agent is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty or duty of confidentiality.

Appears in 2 contracts

Samples: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)

Rights and discretions of the Agent. and the Security Trustee (a) The Agent and the Security Trustee may rely on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent and the Security Trustee may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders or, as the case may be, as security trustee for the Finance Parties) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment));; and (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Majority Lenders has not been exercised; and (iii) any notice or request made by the Borrowers (other than a Drawdown Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Each of the Agent and the Security Trustee. may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Each of the Agent and the Security Trustee may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent Agent, the Security Trustee nor the Arranger is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

Appears in 2 contracts

Samples: Facility Agreement (WNS (Holdings) LTD), Facility Agreement (WNS (Holdings) LTD)

Rights and discretions of the Agent. (and the Security Trustee a) The Agent and the Security Trustee may rely on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any documentauthorized; and (ii) any statement purportedly made by a director, authorised authorized signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent and the Security Trustee may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance PartiesLenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Majority Lenders has not been exercised; and (iii) any notice or request made by the Borrowers Borrower (other than a Drawdown Request or Selection NoticeUtilisation Request) is made on behalf of and with the consent and knowledge of all the ObligorsBorrower. (c) The Agent and the Security Trustee may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent and the Security Trustee may act in relation to the Finance Documents through its personnel and agents. (e) The Agent and the Security Trustee may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, none of the Agent Agent, the Security Trustee and the Arranger is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

Appears in 1 contract

Samples: Facility Agreement (NORDIC AMERICAN TANKERS LTD)

Rights and discretions of the Agent. (a) The Agent may rely on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance PartiesLenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 ‎21.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Majority Lenders has not been exercised; and (iii) any notice or request made by the Borrowers Borrower (other than a Drawdown Utilisation Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, the Agent no Administrative Party is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty or duty of confidentiality.

Appears in 1 contract

Samples: Facility Agreement (Shanda Media LTD)

Rights and discretions of the Agent. (a) The Agent may rely on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance PartiesLenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Majority Lenders has not been exercised; and (iii) any notice or request made by the Borrowers Borrower (other than a Drawdown Utilisation Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, none of the Agent Agent, the Security Trustee or the Arranger is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

Appears in 1 contract

Samples: Term Facility Agreement (Tongjitang Chinese Medicines Co)

Rights and discretions of the Agent. (a) The Agent may rely on;: (i) any representation, notice or document reasonably believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any signature on any documentauthorised; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance PartiesLenders) that: (i) no Default Event of Non-Compliance has occurred (unless it has actual knowledge of a Default an Event of Non-Compliance arising under Clause 23.1 21.1 (a) (Non-payment));; and (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Lenders has not been exercised; and (iii) any notice or request made by the Borrowers (other than a Drawdown Request or Selection Notice) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other expertsexperts selected by it with reasonable due diligence and care. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, the Agent is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.

Appears in 1 contract

Samples: Senior Secured Post Delivery Term Loan Facility Agreement (Knightsbridge Shipping LTD)

Rights and discretions of the Agent. (a) The Agent may rely reiy on;: (i) any representation, notice or document believed by it to be genuine, correct and appropriately authorised and shall have no duty to verify any the signature on any document; and (ii) any statement purportedly made by a director, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within his knowledge or within his power to verify. (b) The Agent may assume (unless it has received notice to the contrary in its capacity as agent or, as the case may be, security trustee for the Finance PartiesLenders) that: (i) no Default has occurred (unless it has actual knowledge of a Default arising under Clause 23.1 clause 22.1 (Non-payment)); (ii) any right, power, authority or discretion vested in any Finance Party or any Obligor the Majority Lenders has not been exercised; and (iii) any notice or request made by the Borrowers Borrower (other than a Drawdown Request or Selection NoticeUtilisation Request) is made on behalf of and with the consent and knowledge of all the Obligors. (c) The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or other experts. (d) The Agent may act in relation to the Finance Documents through its personnel and agents. (e) The Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement. (f) Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent nor the Arranger is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality.. Execution Version 181210 - 70 -

Appears in 1 contract

Samples: Facility Agreement (Videocon D2h LTD)