Common use of The Agency Clause in Contracts

The Agency. Each Lender appoints the Bank as its agent hereunder and irrevocably authorizes the Bank to take such action on its behalf and to exercise such powers hereunder and under the other Credit Documents as are specifically delegated to the Bank by the terms hereof and thereof, together with such powers as are reasonably incidental thereto, and the Bank hereby accepts such appointment subject to the terms hereof. The relationship between the Bank and the Lenders shall be that of agent and principal only and nothing herein shall be construed to constitute the Bank a trustee or fiduciary for any Lender nor to impose on the Bank duties or obligations other than those expressly provided for herein.

The Agency. Each Lender appoints the Bank as its agent hereunder and irrevocably authorizes the Bank to take such action on its behalf and to exercise such powers hereunder and under the other Credit Documents as are specifically delegated to the Bank by the terms hereof and thereof, together with such powers as are reasonably incidental thereto, and the Bank hereby accepts such appointment subject to the terms hereof. The relationship relation ship between the Bank and the Lenders shall be that of agent and principal only and nothing herein shall be construed to constitute the Bank a trustee or fiduciary for any Lender nor to impose on the Bank duties or obligations other than those expressly provided for herein.