Common use of Administration by Agent Clause in Contracts

Administration by Agent. Each of the Lenders hereby irrevocably appoints the Agent as its agent and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto (including, for the avoidance of doubt, to enter into the ABL Intercreditor Agreement, the Term Intercreditor Agreement and any other intercreditor agreement expressly contemplated by Section 6.01). The provisions of this Article 8 are solely for the benefit of the Agent and the Lenders and, except with respect to Section 8.05, the Borrower shall not have rights as a third party beneficiary of any such provisions.

Administration by Agent. Each of the Lenders hereby irrevocably appoints the Agent as its agent and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto (including, for the avoidance of doubt, to enter into the ABL Intercreditor Agreement, the Term Intercreditor Agreement and any other intercreditor agreement expressly contemplated by Section 6.01). The provisions of this Article 8 are solely for the benefit of the Agent and the Lenders and, except with respect to Section 8.05, the Borrower shall not have rights as a third party beneficiary of any such provisions.