Former Administrative Agent definition
Examples of Former Administrative Agent in a sentence
For the avoidance of doubt, the Former Administrative Agent shall have all the rights, privileges and immunities provided to the “Administrative Agent” in the Loan Documents in connection with its acting as the Administrative Agent under this Agreement prior to giving effect to Amendment No. 2.
The parties hereto hereby agree that from and after the Amendment Effective Date, the New Administrative Agent shall be the “Administrative Agent” and “Collateral Agent” under the Amended Credit Agreement and the other Loan Documents until such time, if any, as a replacement Administrative Agent or Collateral Agent is appointed in accordance with the Amended Credit Agreement, and the Former Administrative Agent shall cease to be the Administrative Agent and Collateral Agent under the Loan Documents.
The Former Administrative Agent, its Affiliates and their respective officers, directors, employees, agents, attorney’s-in-fact or representatives shall be express third party beneficiaries of this paragraph.
The Former Administrative Agent shall be entitled to all rights, privileges and immunities under the Amended Credit Agreement and the other Loan Documents provided to the “Administrative Agent,” “Collateral Agent,” “Swingline Lender” and “L/C Issuer” with respect to its activities in such capacities under the 2008 Credit Agreement, the 2011 Credit Agreement and the Existing Credit Agreement.
This Agreement may not be amended nor may any provision hereof be waived except pursuant to a writing signed by the New Administrative Agent, the Former Administrative Agent, Holdings, the Borrower and the Required Amendment Lenders.
The New Administrative Agent shall have no liability of any kind for any act or omission of the Former Administrative Agent under any Loan Document.
This Agreement shall become effective when copies hereof that, when taken together, bear the signatures of Holdings, the Borrower, the New Administrative Agent, the Former Administrative Agent and the Required Amendment Lenders (including the deemed signatures of the Initial Term B-7 Lenders) shall have been received by the New Administrative Agent and the Former Administrative Agent.
The New Administrative Agent (or its counsel) shall have received counterparts of this Amendment No. 2 that, when taken together, bear the signatures of (i) each Loan Party, (ii) the New Administrative Agent and the New Collateral Agent, (iii) the Former Administrative Agent and the Former Collateral Agent, (iv) the Amendment No. 2 Additional Lender, (v) each L/C Issuer and (vi) Lenders constituting the Required Lenders.
The New Administrative Agent shall have received a copy of the Successor Agent Agreement, executed by the Former Administrative Agent, the Former Collateral Agent, the New Administrative Agent, the New Collateral Agent and the Loan Parties (the “Agency Transfer Agreement”).