THE LEAD AGENT Clause Samples
The "Lead Agent" clause designates a specific party, typically within a group of lenders or stakeholders, to act as the primary representative and coordinator for the group in relation to the agreement. This clause outlines the authority and responsibilities of the lead agent, such as communicating with the borrower, administering payments, and making decisions on behalf of the group where permitted. Its core practical function is to streamline communication and decision-making, ensuring efficiency and consistency by centralizing these roles with a single entity, thereby reducing confusion and administrative burden among multiple parties.
THE LEAD AGENT. 58 SECTION 7.1. Appointment and Authorization........... 58 SECTION 7.2. Lead Agent and Affiliates............... 58 SECTION 7.3. Action by Lead Agent.................... 58 SECTION 7.4. Consultation with Experts............... 58 SECTION 7.5. Liability of Lead Agent................. 58 SECTION 7.6. Indemnification......................... 59 SECTION 7.7. Credit Decision......................... 59 SECTION 7.8. Successor Lead Agent.................... 59 SECTION 7.9. Lead Agent's Fee........................ 60 SECTION 7.10. Copies of Notices....................... 60 ARTICLE VIII
THE LEAD AGENT. 94 SECTION 7.1.
THE LEAD AGENT. 90 SECTION 7.1. Appointment and Authorization........................ 90 SECTION 7.2. Lead Agent and Affiliates............................ 90 SECTION 7.3. Action by Lead Agent................................. 91 SECTION 7.4. Consultation with Experts............................ 91 SECTION 7.5. Liability of Lead Agent.............................. 91 SECTION 7.6. Indemnification...................................... 91 SECTION 7.7. Credit Decision...................................... 92 SECTION 7.8. Successor Lead Agent................................. 92 SECTION 7.9. Lead Agent's Fee..................................... 93 SECTION 7.10. Copies of Notices.................................... 93 SECTION 7.11. Removal of Lead Agent................................ 93 ARTICLE VIII
THE LEAD AGENT. The Co-Agent and each Lender irrevocably appoints PNC to be its Lead Agent with full authority to take such actions, and to exercise such powers, on behalf of the Co-Agent and the Lenders in respect of this Agreement and the other Loan Documents as are therein respectively delegated to the Lead Agent or as are reasonably incidental to those delegated powers. PNC in such capacity shall be deemed to be an independent contractor of the Co-Agent and the Lenders. For the purposes of this Article 13, “Lender” shall include any Lender.
THE LEAD AGENT