Examples of Designating Lender in a sentence
No additional Notes shall be required with respect to Loans provided by a Designated Xxxxxx; provided, however, to the extent any Designated Lender shall advance funds, the Designating Lender shall be deemed to hold the Notes in its possession as an agent for such Designated Lender to the extent of the Loan funded by such Designated Lender.
Such Designating Lender shall act as administrative agent for its Designated Xxxxxx and give and receive notices and communications hereunder.
The Designating Lender shall thereafter have the right to permit the Designated Lender to provide all or a portion of the Loans to be made by the Designating Lender pursuant to the terms of this Agreement and the making of such Loans or portion thereof shall satisfy the obligations of the Designating Lender to the same extent, and as if, such Loan was made by the Designating Lender.
Any payments for the account of any Designated Lender shall be paid to its Designating Lender as administrative agent for such Designated Xxxxxx and neither the Borrowers nor the Agent shall be responsible for any Designating Xxxxxx’s application of such payments.