Term Loan Agent Clause Samples
The 'Term Loan Agent' clause designates a specific party, usually a financial institution, to act as the administrative agent for a group of lenders in a term loan agreement. This agent is responsible for coordinating communications between the borrower and the lenders, managing the flow of funds, and handling administrative tasks such as monitoring compliance with loan covenants and distributing payments. By centralizing these functions, the clause streamlines the loan management process and ensures consistent enforcement of the agreement's terms, reducing confusion and administrative burden for all parties involved.
Term Loan Agent. Notwithstanding the repayment of the Obligations under the Term Loan (as defined prior to giving effect to this Amendment) and anything in the Credit Agreement (as amended by this Amendment) to the contrary:
(a) upon the effectiveness of this Amendment, ▇▇▇▇▇ Fargo Credit shall have effectively resigned as the Term Loan Agent pursuant to Section 9.06 of the Credit Agreement and shall be discharged from all of its duties and obligations under the Loan Documents; and
(b) from and after the effectiveness of this Amendment, ▇▇▇▇▇ Fargo Credit shall continue to have all rights and privileges afforded to the Agents pursuant to the provisions of Article IX and Section 10.04 of the Credit Agreement, which provisions shall continue in effect for the benefit of ▇▇▇▇▇ Fargo Credit, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while ▇▇▇▇▇ Fargo Credit was acting as the Term Loan Agent under the Credit Agreement and the other Loan Documents.
Term Loan Agent. Cortland Products Corp. a Delaware corporation, and solely with respect to Collateral consisting of Vehicles, Cortland Capital Market Services LLC, a Delaware limited liability company, together with their successors and assigns.
Term Loan Agent. The Chase Manhattan Bank, in its capacity as Term Loan Agent, is joining in this Agreement for the purpose of agreeing to the provisions of this Article.
Term Loan Agent. 28 Term . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
Term Loan Agent. (a) Each Term Loan Lender irrevocably designates, appoints and authorizes ▇▇▇▇▇ to act as Term Loan Agent hereunder and under the other Financing Agreements with such powers as are specifically delegated to the Term Loan Agent by the terms of this Agreement and of the other Financing Agreements, together with such other powers as are reasonably incidental thereto. Term Loan Agent (i) shall have no duties or responsibilities except those expressly set forth in this Agreement and in the other Financing Agreements, and shall not by reason of this Agreement or any other Financing Agreement be a trustee or fiduciary for any Term Loan Lender; (ii) shall not be responsible to the Term Loan Lenders for any recitals, statements, representations or warranties contained in this Agreement or in any of the other Financing Agreements, or in any certificate or other document referred to or provided for in, or received by any of them under, this Agreement or any other Financing Agreement, or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Financing Agreement or any other document referred to or provided for herein or therein or for any failure by any Borrower or any Guarantor or any other Person to perform any of its obligations hereunder or thereunder; and (iii) shall not be responsible to the Term Loan Lenders for any action taken or omitted to be taken by it hereunder or under any other Financing Agreement or under any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith, except for its own gross negligence or willful misconduct as determined by a final non-appealable judgment of a court of competent jurisdiction. Term Loan Agent may employ agents and attorneys-in-fact and shall not be responsible for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith.
(b) With respect to its Commitment and the Term Loans made by it (and any successor acting as Term Loan Agent), so long as ▇▇▇▇▇ shall be a Lender hereunder, it shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not acting as Term Loan Agent, and the terms “Lender”, “Lenders”, “Term Loan Lender” or “Term Loan Lenders” shall, unless the context otherwise indicates, include ▇▇▇▇▇▇▇▇▇ in its individual capacity as Lender hereunder. ▇▇▇▇▇ (and any successor acting as Term Loan Agent) and its Af...
Term Loan Agent. The Term Loan Agent shall be entitled to the same rights, protections, immunities and indemnities under this Agreement as are set forth in the Term Loan Documents, as if the provisions setting forth those rights, protections, immunities and indemnities are fully set forth herein. \\LA - 765212/000003 - 2075087 v5
Term Loan Agent. Stonebriar Commercial Finance LLC and its successors and assigns or any replacement administrative agent with respect to the Term Loan Debt.
Term Loan Agent. W▇▇▇▇ Fargo Bank, National Association, as the Term Loan Agent under the Credit Agreement.
Term Loan Agent. The definition of “Term Loan Agent” set forth in Section 1.2 of the Credit Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following:
Term Loan Agent. Each Term Loan Lender hereby (i) designates ▇▇▇▇▇ Fargo as Term Loan Agent under this Agreement and the other Loan Documents, (ii) authorizes the Term Loan Agent to enter into the Loan Documents to which it is a party and (iii) authorizes the Term Loan Agent, at its discretion, to take or refrain from taking such actions as agent on its behalf and to exercise or refrain from exercising such powers under the Loan Documents as are delegated by the terms hereof or thereof, as appropriate, together with all powers reasonably incidental thereto. The Term Loan Agent shall have no duties or responsibilities except as set forth in this Agreement and the remaining Loan Documents, nor shall it have any fiduciary relationship with any Lender, and no implied covenants, responsibilities, duties, obligations, or liabilities shall be read into the Loan Documents or otherwise exist against the Term Loan Agent.