Senior LC Facility Administrative Agent definition
Examples of Senior LC Facility Administrative Agent in a sentence
The Senior LC Facility Administrative Agent shall have received satisfactory evidence, including certificates of good standing, dated no more than five (5) Business Days prior to the Closing Date, from the Secretaries of State of each relevant jurisdiction, including Louisiana and Texas, that the Borrower is duly authorized to carry on its business and is duly organized, validly existing and in good standing in its jurisdiction of organization.
The Senior LC Facility Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon.
Any Senior LC Lender and the Senior Issuing Bank may change its address, facsimile, telephone number or email address for notices and other communications hereunder by notice to the Borrower, the Senior LC Facility Administrative Agent and the Common Security Trustee.
In the event of any conflict between the accounts and records maintained by any Senior LC Lender and the accounts and records of the Senior LC Facility Administrative Agent in respect of such matters, the accounts and records of the Senior LC Facility Administrative Agent shall control in the absence of manifest error.
The Borrower unconditionally and irrevocably promises to pay to the Senior LC Facility Administrative Agent for the ratable account of each Senior LC Lender the aggregate outstanding principal amount of each Loan no later than 5:00 p.m. New York City time on the Business Day immediately succeeding the deemed making of such Loan (or, if such Loan is deemed made on the Termination Date, such Loan shall be repaid by the Borrower by 5:00 p.m. New York City time on such date).
Notwithstanding the above, all notices delivered by the Borrower to the Senior LC Facility Administrative Agent through electronic communications shall be followed by the delivery of a hard copy.
The Senior LC Facility Administrative Agent shall have received for its own account, or for the account of the relevant Senior LC Lender entitled thereto and the Senior Issuing Bank, all Fees due and payable pursuant to Section 4.08 (Fees) and all costs and expenses (including costs, fees and expenses of legal counsel and Consultants) payable thereunder for which invoices have been presented.
Such court may thereupon, after such notice, if any, as it may deem proper, appoint a successor Senior LC Facility Administrative Agent, who shall serve as Senior LC Facility Administrative Agent hereunder and under each other Financing Document to which it is a party until such time, if any, as the Required Senior LC Lenders appoint a successor Senior LC Facility Administrative Agent, as provided above.
The Senior LC Facility Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.
The Borrower shall have issued notice to proceed with respect to the Facility Enhancements (as defined in the Water Agreement) and shall have delivered a copy thereof to the Senior LC Facility Administrative Agent.