AGENT'S DUTIES definition

AGENT'S DUTIES. The Agent shall: 24.2.1 promptly send to each Bank details of each communication received by it from an Obligor under this Agreement, except that details of any communication relating to a particular Bank shall be sent to that Bank only 24.2.2 promptly send to each Bank a copy of any legal opinion delivered under this Agreement and of any document or information received by it under Clause 19 24.2.3 subject to the other provisions of this Clause 24, act in accordance with any instructions from the Majority Banks and 24.2.4 have only those obligations and responsibilities, of a solely mechanical and administrative nature, expressly specified in this Agreement.
View Source
AGENT'S DUTIES. The Agent shall: (1) promptly send to each Lender details of each communication received by it from the Borrower under this Agreement, except that details of any communication relating to a particular Lender shall be sent to that Lender only; (2) promptly send to each Lender a copy of any legal opinion delivered under this Agreement and of any document or information received by it under Clause 4 or Clause 13; (3) subject to the other provisions of this Clause, act in accordance with any instructions from the Majority Lenders or, if so instructed by the Majority Lenders, refrain from exercising a right, power or discretion vested in it under this Agreement, and (4) have only those duties, obligations and responsibilities expressly specified in this Agreement.
View Source

Examples of AGENT'S DUTIES in a sentence

  • AGENT AND HOLD EXCHANGE AGENT HARMLESS AGAINST ANY CLAIM, LOSSES, LIABILITY OR EXPENSE (INCLUDING REASONABLE COUNSEL FEES AND DISBURSEMENTS) INCURRED WITHOUT NEGLIGENCE OR WILLFUL MISCONDUCT ON EXCHANGE AGENT'S PART ARISING OUT OF OR IN CONNECTION WITH THE ADMINISTRATION OF EXCHANGE AGENT'S DUTIES HEREUNDER, INCLUDING THE COSTS AND EXPENSES OF DEFENDING ITSELF AGAINST ANY CLAIM OR LIABILITY AND INCLUDING BUT NOT LIMITED TO ANY NEGLIGENT ACT (EXCLUDING ANY NEGLIGENT ACT) OF EXCHANGE AGENT.

  • Any rights to inventions acquired by either Party pursuant to any such Material Transfer Agreement shall be deemed Joint Collaboration Technology.