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

Rights of Agent as a Bank. With respect to its Commitment, the Loan made by it and the Note issued to it, Banque Paribas (and any successor acting as 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 individual capacity. The Agent and its Affiliates may (without having to account therefor to any Bank) accept deposits from, lend money to, act as trustee under indentures of, provide merchant banking services to and generally engage in any kind of banking, trust or other business with the Loan Parties or any of their Affiliates, and any other Person who may do business with or own securities of the Loan Parties or any of their Affiliates, all as if it were not acting as the Agent and without any duty to account therefor to the Banks.

Appears in 3 contracts

Samples: Credit Agreement (Falcon Drilling Co Inc), Credit Agreement (Falcon Drilling Co Inc), Credit Agreement (R&b Falcon Corp)

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Rights of Agent as a Bank. With respect to its CommitmentCommitments, the Loan Loans made by it and the Note Notes issued to it, Banque Paribas First Union (and any successor acting as 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 individual capacity. The Agent and its Affiliates may (without having to account therefor to any Bank) accept deposits from, lend money to, act as trustee under indentures of, provide merchant banking services to to, and generally engage in any kind of banking, trust trust, or other business with the Loan Parties Borrower or any of their AffiliatesObligated Party, and any other Person who may do business with or own securities of the Loan Parties Borrower or any of their AffiliatesObligated Party, all as if it were not acting as the Agent and without any duty to account therefor to the Banks.

Appears in 1 contract

Samples: Security Agreement (Tufco Technologies Inc)

Rights of Agent as a Bank. With respect to its Commitment, the Loan Loans made by it and the Note issued to it, Banque Paribas (and any successor acting as 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, Agent and the term "Bank" or "Banks" shall, unless the context otherwise indicates, include the Agent in its their individual capacitycapacities. The Agent and its respective Affiliates may (without having to account therefor to any Bank) accept deposits from, lend money to, act as trustee under indentures of, provide merchant banking services to and generally engage in any kind of banking, trust or other business with the Loan Parties or Companies, any of their Affiliates, Affiliates and any other Person who may do business with or own securities of the Loan Parties Companies or any of their Affiliates, all as if it were not acting as the Agent and without any duty to account therefor to the Banks.

Appears in 1 contract

Samples: Credit Agreement (MSR Exploration LTD)

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Rights of Agent as a Bank. With respect to its CommitmentRevolving Facility Commitments hereunder, the Loan Loans made by it and the Note Notes issued to it, Banque Paribas (and any successor acting as Agent) in its capacity as a Bank hereunder the Agent shall have the same rights and powers hereunder under the Loan Papers 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 indicatesexpressly indicated, include the Agent in its individual capacity. The Agent and its any Affiliates of Agent may (without having to account therefor to any Bank) accept deposits from, lend money to, make investments in, provide services to, act as trustee under indentures of, provide merchant banking services to and generally engage in any kind of bankinglending, trust or other business with with, any of the Loan Parties or Borrowers, any of the Subsidiaries and any of their Affiliates, Affiliates and any it may accept fees and other Person who may do business with or own securities of the Loan Parties or consideration from any of their Affiliatessaid parties for services in connection with this Agreement or otherwise, all as if it the Agent were not acting as the Agent and without any duty to account therefor to the Banks.

Appears in 1 contract

Samples: Credit Agreement (Stewart Enterprises Inc)

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