Rights of Administrative Agent as a Lender. With respect to its Revolving Credit Commitments and the Revolving Credit Loans made by it and the Letter of Credit Obligations attributable to it, the Administrative Agent in its capacity as a Lender hereunder shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not acting as the Administrative Agent, and the term "Lender" or "Lenders" shall, unless the context otherwise indicates, include the Administrative Agent in its capacity as a Lender. The Administrative Agent and its affiliates may (without having to account therefor to any Lender) accept deposits from, lend money to (on a secured or unsecured basis), and generally engage in any kind of banking, trust or other business with, any Consolidated Entity (and any of its affiliates) as if it were not acting as the Administrative Agent, and the Administrative Agent may accept fees and other consideration from any Consolidated Entity for services in connection with this Agreement or otherwise without having to account for the same to the Lenders. Although the Administrative Agent and its affiliates may in the course of such relationships and relationships with other Persons acquire information about any Obligor, its Affiliates and such other Persons, the Administrative Agent shall have no duty to disclose such information to the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Micro Warehouse Inc), Credit Agreement (Micro Warehouse Inc)
Rights of Administrative Agent as a Lender. With respect to its Revolving Credit Commitments Commitment and the Revolving Credit Loans made by it and the Letter Letters of Credit Obligations attributable to itCredit, the entity which is the Administrative Agent in its capacity as a Lender hereunder shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not acting as the Administrative Agent, and the term "Lender" or "Lenders" shall, unless the context otherwise indicates, include the entity which is the Administrative Agent in its capacity as a Lender. The entity which is the Administrative Agent and its affiliates Affiliates may (without having to account therefor to any Lender) accept deposits from, lend money to (on a secured or unsecured basis), and generally engage in any kind of banking, trust or other business with, any Consolidated Entity the Parent (and any of its affiliatesAffiliates) as if it were not acting as the Administrative Agent, and the entity which is the Administrative Agent may accept fees and other consideration from any Consolidated Entity Borrower for services in connection with this Agreement or otherwise without having to account for the same to the Lenders. Although the Administrative Agent and its affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about any Obligorthe Parent, its Affiliates and such other Persons, the Administrative Agent shall have no duty to disclose such information to the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Movado Group Inc), Credit Agreement (Movado Group Inc)
Rights of Administrative Agent as a Lender. With respect to its Revolving Credit Commitments Commitment and the Revolving Credit Loans made by it and the Letter of Credit Obligations attributable to it, the entity which is the Administrative Agent in its capacity as a Lender hereunder shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not acting as the Administrative Agent, and the term "Lender" or "Lenders" shall, unless the context otherwise indicates, include the entity which is the Administrative Agent in its capacity as a Lender. The entity which is the Administrative Agent and its affiliates Affiliates may (without having to account therefor to any Lender) accept deposits from, lend money to (on a secured or unsecured basis), and generally engage in any kind of banking, trust or other business with, any Consolidated Entity the Parent (and any of its affiliatesAffiliates including the Borrowers) as if it were not acting as the Administrative Agent, and the entity which is the Administrative Agent may accept fees and other consideration from the Parent or any Consolidated Entity Borrower for services in connection with this Agreement or otherwise without having to account for the same to the Lenders. Although the Administrative Agent and its affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about any Obligorthe Parent, its Affiliates and such other Persons, the Administrative Agent shall have no duty to disclose such information to the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Movado Group Inc)