Rights of the Successor and Retiring Agents. Upon the acceptance of any appointment as Agent hereunder by a successor Agent (which shall have been approved by Borrowers' Representative as provided above), such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations as Agent under this Agreement (but not as Lender). After any retiring Agent's resignation hereunder as Agent, the provisions of this entire Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Agent under this Agreement.
Appears in 2 contracts
Samples: Senior Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust), Unsecured Revolving Credit Agreement (Lexington Corporate Properties Trust)
Rights of the Successor and Retiring Agents. Upon the acceptance of any appointment as Payment and Disbursement Agent hereunder by a successor Agent (which shall have been approved by Borrowers' Representative as provided above)Agent, such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations as Agent under this Agreement (but not as Lender)Agreement. After any retiring Agent's resignation hereunder as Agent, the provisions of this entire Section 9 ARTICLE XII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Agent under this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Simon Property Group Inc /De/), Credit Agreement (Simon Property Group L P /De/)
Rights of the Successor and Retiring Agents. Upon the acceptance of any appointment as Agent hereunder by a successor Agent (which shall have been approved by Borrowers' Representative Agent as provided above), such successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations as Agent under this Agreement (but not as Lender). After any retiring Agent's resignation hereunder as Agent, the provisions of this entire Section 9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Agent under this Agreement.
Appears in 1 contract
Samples: Revolving Credit Agreement (Lexington Corporate Properties Inc)
