The Administrative Agents Sample Clauses
The "Administrative Agents" clause defines the roles, responsibilities, and authority of the administrative agents appointed under an agreement, typically in the context of syndicated loans or multi-party financial arrangements. This clause outlines how the administrative agent acts on behalf of the lenders, manages communications, and coordinates the execution of administrative tasks such as processing payments, distributing notices, and maintaining records. By clearly delineating the administrative agent's duties, the clause ensures efficient management of the agreement and prevents confusion or disputes among the parties regarding administrative processes.
The Administrative Agents. Each of the Lenders and each of the Issuing Banks hereby irrevocably appoints the Administrative Agent and, as applicable, the Canadian Administrative Agent, as its agent and authorizes each of the Administrative Agents to take such actions on its behalf, including execution of the other Loan Documents, and to exercise such powers as are delegated to the Applicable Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. Each bank serving as the Administrative Agent or Canadian Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent or Canadian Administrative Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Loan Parties or any Subsidiary of a Loan Party or other Affiliate thereof as if it were not the Administrative Agent or Canadian Administrative Agent hereunder. Neither of the Administrative Agents shall have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) neither of the Administrative Agents shall be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) neither of the Administrative Agents shall have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Applicable Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02), and (c) except as expressly set forth in the Loan Documents, neither of the Administrative Agents shall have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Loan Party or any of its Subsidiaries that is communicated to or obtained by such bank serving as the Administrative Agent of Canadian Administrative Agent or any of its Affiliates in any capacity. Neither of the Administrative Agents shall be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be n...
The Administrative Agents refusal to accept a Sale to a Credit Party, a Subsidiary of a Credit Party or a Person that would be a Defaulting Lender, or the imposition of conditions or limitations (including limitations on voting) upon Sales to such Persons, shall not be deemed to be unreasonable. Any purported assignment or transfer by a Lender of its rights or obligations under this Credit Agreement and the other Loan Documents to any Person not Affiliated with the Borrowers that does not comply with the terms hereof shall be treated for purposes of this Credit Agreement as a sale by such Lender of a participation of such rights and obligations in accordance with Section 12.11(g), provided that such treatment shall not relieve any assigning Lender from any liabilities arising as a consequence of its breach of this Credit Agreement.
The Administrative Agents. Each of the Lenders and each of the Issuing Banks hereby irrevocably appoints the Administrative Agent and, as applicable, the Multicurrency Administrative Agent, as its agent and authorizes each of the Administrative Agents to take such actions on its behalf, including execution of the other Loan Documents, and to exercise such powers as are delegated to the Applicable Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto. Each bank serving as the Administrative Agent or Multicurrency Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent or Multicurrency Administrative Agent, and
The Administrative Agents. Section 9.1. Appointment and Authorization of Administrative Agent, Syndication Agent, Documentation Agent and Senior Managing Agents. Each Lender hereby appoints SunTrust Bank, Atlanta as the Administrative Agent, Royal Bank of Canada as the Syndication Agent, Bank of America, N.A. as the Documentation Agent, and each of Bank One, NA and Paribas as Senior Managing Agents, under the Credit Documents and hereby authorizes the Administrative Agent, the Syndication Agent, the Documentation Agent and the Senior Managing Agents to take such action as Administrative Agent, Syndication Agent, Documentation Agent and Senior Managing Agents on each of its behalf and to exercise such powers under the Credit Documents as are delegated to the Administrative Agent, the Syndication Agent, the Documentation Agent and the Senior Managing Agents, respectively, by the terms thereof, together with such powers as are reasonably incidental thereto.
The Administrative Agents term shall coincide with the fiscal year of the Joint Agreement with such appointment continuing until the occurrence of one of the events contained in Section 2.3, below.
The Administrative Agents
The Administrative Agents