Examples of Predecessor Administrative Agent in a sentence
Pursuant to Section 12.9 of the Existing Credit Agreement and Article XII hereunder, Administrative Agent is hereby appointed as administrative agent under this Agreement and hereby becomes the successor administrative agent and is vested with all the rights and duties of Predecessor Administrative Agent and Predecessor Administrative Agent is discharged from its duties and obligations in its capacity as administrative agent under the Existing Credit Agreement.
Without limiting the generality of Article VIII and IX of this Agreement, (i) BANA shall have no liability to any Person with respect to actions taken or omitted to be taken by the Predecessor Administrative Agent as Administrative Agent or its sub-agents occurring prior to the Effective Date and (ii) the Predecessor Administrative Agent shall have no liability to any Person with respect to actions taken or omitted to be taken by BANA as Administrative Agent occurring from and after the Effective Date.
As of the Effective Date, the Predecessor Administrative Agent as resigning Administrative Agent hereby confirms that it has not received notice of any pending or overtly threatened claims against it in such capacity or any of its sub-agents, or incurred any losses, obligations, fees, expenses or charges in connection therewith, and with respect to which it would be entitled to reimbursement or indemnity under the Continuing Indemnities.
Pursuant to Section 12.9 of the Existing Credit Agreement, Predecessor Administrative Agent hereby resigns as administrative agent under the Existing Credit Agreement effective as of the date hereof.
The Predecessor Administrative Agent shall execute and deliver such instruments as may be prepared by BANA and are in form and substance reasonably satisfactory to the Predecessor Administrative Agent, and do such other things as BANA may reasonably request, so as to more fully and certainly vest and confirm upon BANA the rights, powers, privileges, obligations, duties and protections of the Administrative Agent.
Each of the Borrower, the Lenders, and each of the other parties party hereto hereby waives any notice requirements in connection with the resignation of the Predecessor Administrative Agent as Administrative Agent and the appointment of BANA as successor Administrative Agent under the Receivables Loan Agreement.
Pursuant to Section 13.06 of the Existing Credit Agreement, the Successor Administrative Agent is hereby appointed as administrative agent under the Credit Agreement and hereby becomes the successor administrative agent and is vested with all the rights and duties of the Predecessor Administrative Agent and the Predecessor Administrative Agent is discharged from its duties and obligations in its capacity as administrative agent under the Existing Credit Agreement.
The Lenders hereby discharge JPMorgan Chase Bank, N.A. from its duties and obligations as Administrative Agent under the Credit Agreement and each of the other Loan Documents, and all such duties and obligations of the Predecessor Administrative Agent are terminated as of the Second Amendment Effective Date.
Notwithstanding the foregoing, all rights and benefits of the Predecessor Administrative Agent under the Credit Agreement and the other Loan Documents shall be unaffected as provided in Section 3(d) below.
This can take up to several seconds, but can typically be avoided by setting the DoN properly.