Common use of Rights of Agent as a Bank Clause in Contracts

Rights of Agent as a Bank. With respect to its Commitment, its Swing Line Commitment and the Loans made by it, the Agent in its capacity as a Bank hereunder shall have the same rights and powers hereunder as any other Bank and may exercise the same as though it were not acting as the Agent, and the term "Bank" or "Banks" shall, unless the context otherwise indicates, include the Agent in its capacity as a Bank. The Agent and its affiliates may (without having to account therefor to any Bank) 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, the Borrower (and any of its affiliates) as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Borrower for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent and its affiliates may in the course of such relationships not involving its activities as Agent, and in the course of relationships with other Persons, acquire information about the Borrower, its Affiliates and such other Persons, the Agent shall have no duty to disclose to the Banks information so acquired.

Appears in 2 contracts

Samples: Credit Agreement (Seneca Foods Corp /Ny/), Credit Agreement (Seneca Foods Corp /Ny/)

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Rights of Agent as a Bank. With respect to its Commitment, its Swing Line Commitment and the Loans made by it and the Letter of Credit Obligations attributable to it, the Agent in its capacity as a Bank hereunder shall have the same rights and powers hereunder as any other Bank and may exercise the same as though it were not acting as the Agent, and the term "Bank" or "Banks" shall, unless the context otherwise indicates, include the Agent in its capacity as a Bank. The Agent and its affiliates may (without having to account therefor to any Bank) 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, the Borrower any Obligor (and any of its affiliates) as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Borrower any Obligor for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent and its affiliates may in the course of such relationships not involving its activities as Agent, and in the course of relationships with other Persons, Persons acquire information about the Borrowerany Obligor, its Affiliates and such other Persons, the Agent shall have no duty to disclose such information to the Banks information so acquiredBanks.

Appears in 2 contracts

Samples: Credit Agreement (Daka International Inc), Credit Agreement (Daka International Inc)

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Rights of Agent as a Bank. With respect to its Commitment, its Swing Line Commitment and the Loans made by it, the Agent in its capacity as a Bank hereunder shall have the same rights and powers hereunder as any other Bank and may exercise the same as though it were not acting as the Agent, and the term "Bank" or "Banks" shall, unless the context otherwise indicates, include the Agent in its capacity as a Bank. The Agent and its affiliates may (without having to account therefor to any Bank) 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, the any Borrower (and any of his or its affiliatesAffiliates) as if it were not acting as the AgentAgent or the pledgee under the Registration Rights Agreement, and the Agent may accept fees and other consideration from the any Borrower for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent and its affiliates may in the course of such relationships not involving its activities as Agent, and in the course of relationships with other Persons, Persons acquire information about the any Borrower, his or its Affiliates and such other Persons, the Agent shall have no duty to disclose such information to the Banks information so acquiredBanks.

Appears in 2 contracts

Samples: Credit Agreement (Lauder Ronald S), Credit Agreement (Lauder Ronald S)

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