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

Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates may (without having to account therefor to any other 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 Co-Borrowers or the Guarantors (and any of their affiliates). In the case of the Agent, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or the Guarantors for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or their respective affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or the Guarantors or affiliates and such other Persons neither the Agent nor such Bank shall have any duty to disclose such information to the other Banks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (PDK Labs Inc), Revolving Credit Agreement (Futurebiotics Inc)

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Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other BankBank except as otherwise expressly provided in this Agreement) 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 Co-Borrowers or Borrower, the Guarantors or any of them (and any of their affiliatesAffiliates); provided that no payment or lien priority shall be given to the Agent or to any Bank for any other transaction without the express written approval of all of the other Banks. In the case of the AgentCitibank, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or Borrower, the Guarantors or any of them for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or any of their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or Borrower, the Guarantors or affiliates Guarantors, their Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to the other Banks or the Agent to disclose such information to the other BanksBanks or the Agent except as otherwise provided herein with respect to the occurrence of an Event of Default.

Appears in 2 contracts

Samples: Loan Agreement (Gristedes Foods Inc), Loan Agreement (Gristedes Foods Inc)

Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other Bank) accept deposits from, lend money to (on a secured or unsecured basisbasis as otherwise permitted hereunder), and generally engage in any kind of banking, trust or other business with, the Co-Borrowers Borrower or any of the Guarantors (and any of their affiliatesAffiliates). In the case of the Agent, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers Borrower or any of the Guarantors for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers Borrower or any of the Guarantors or affiliates Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to disclose such information to the other BanksBanks except as otherwise required pursuant to Facility Documents.

Appears in 2 contracts

Samples: Credit Agreement (United Capital Corp /De/), Security Agreement (United Capital Corp /De/)

Rights of Agent as a Bank. With respect to its Commitment and the Loans made by it, any Person which is 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 any Person which is the Agent in its capacity as a Bank. The Agent or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other BankBank except as otherwise expressly provided in this Agreement) 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 Co-Borrowers or Borrower, the Guarantors or any of them (and any of their affiliatesAffiliates); provided that no payment or lien priority shall be given to the Agent or to any Bank for any other transaction without the express written approval of all of the other Banks. In the case of the AgentBNY, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or Borrower, the Guarantors or any of them for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or any of their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or Borrower, the Guarantors or affiliates Guarantors, their Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to the other Banks or the Agent to disclose such information to the other BanksBanks or the Agent except as otherwise provided herein with respect to the occurrence of an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Manchester Equipment Co Inc)

Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other BankBank except as otherwise expressly provided in this Agreement) 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 Co-Borrowers or Borrowers, the Guarantors or any of them (and any of their affiliatesAffiliates); provided that no payment or lien priority shall be given to the Agent or to any Bank for any other transaction without the express written approval of all of the other Banks. In the case of the AgentBNY, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or Borrowers, the Guarantors or any of them for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or any of their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or Borrowers, the Guarantors or affiliates Guarantors, their Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to the other Banks or the Agent to disclose such information to the other BanksBanks or the Agent except as otherwise provided herein with respect to the occurrence of an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Hirsch International Corp)

Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other Bank) accept deposits from, lend money to (on a secured or unsecured basisbasis as otherwise permitted hereunder), and generally engage in any kind of banking, trust or other business with, the Co-Borrowers Borrower or the Guarantors any of its Subsidiaries (and any of their affiliatesAffiliates). In the case of the Agent, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers Borrower or the Guarantors any of its Subsidiaries for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers Borrower or the Guarantors any of its Subsidiaries or affiliates Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to disclose such information to the other BanksBanks except as otherwise required pursuant to Facility Documents.

Appears in 1 contract

Samples: Credit Agreement (Genovese Drug Stores Inc)

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Rights of Agent as a Bank. With respect to its Commitment and the Loans made by it, any Person which is 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 any Person which is the Agent in its capacity as a Bank. The Agent or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other BankBank except as otherwise expressly provided in this Agreement) 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 Co-Borrowers or Borrower, the Guarantors or any of them (and any of their affiliatesAffiliates); provided that no payment or lien priority shall be given to the Agent or to any Bank for any other transaction without the express written approval of all of the other Banks. In the case of the AgentEAB, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or Borrower, the Guarantors or any of them for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or any of their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or Borrower, the Guarantors or affiliates Guarantors, their Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to the other Banks or the Agent to disclose such information to the other BanksBanks or the Agent except as otherwise provided herein with respect to the occurrence of an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Manchester Equipment Co Inc)

Rights of Agent as a Bank. With respect to its Commitment and the Revolving Credit 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other Bank) accept deposits from, lend money to (on a secured or unsecured basisbasis as otherwise permitted hereunder), and generally engage in any kind of banking, trust or other business with, the Co-Borrowers Borrower or any of the Guarantors (and any of their affiliatesAffiliates). In the case of the Agent, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers Borrower or any of the Guarantors for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers Borrower or any of the Guarantors or affiliates Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to disclose such information to the other BanksBanks except as otherwise required pursuant to Facility Documents.

Appears in 1 contract

Samples: Credit Agreement (United Capital Corp /De/)

Rights of Agent as a Bank. With respect to its 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 or any Bank and their respective affiliates Affiliates may (without having to account therefor to any other BankBank except as otherwise expressly provided in this Agreement) 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 Co-Borrowers or Borrower, the Guarantors or any of them (and any of their affiliatesAffiliates); provided that no payment or lien priority shall be given to the Agent or to any Bank for any other transaction without the express written approval of all of the other Banks. In the case of the AgentBNY, it may do so as if it were not acting as the Agent, and the Agent may accept fees and other consideration from the Co-Borrowers or Borrower, the Guarantors or any of them for services in connection with this Agreement or otherwise without having to account for the same to the Banks. Although the Agent or a Bank or any of their respective affiliates Affiliates may in the course of such relationships and relationships with other Persons acquire information about the Co-Borrowers or Borrower, the Guarantors or affiliates Guarantors, their Affiliates and such other Persons Persons, neither the Agent nor such Bank shall have any duty to the other Banks or the Agent to disclose such information to the other BanksBanks or the Agent except as otherwise provided herein with respect to the occurrence of an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Hirsch International Corp)

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