Agent for Borrowers Sample Clauses
The 'Agent for Borrowers' clause designates a specific party, often one of the borrowers or a third party, to act on behalf of all borrowers in dealings with the lender. This agent is authorized to communicate with the lender, receive notices, and make decisions or requests that are binding on all borrowers under the agreement. By centralizing communication and decision-making, this clause streamlines the administration of the loan and prevents confusion or conflicting instructions, ensuring efficient management of the borrowers' collective obligations.
Agent for Borrowers. Each Loan Party hereby irrevocably appoints GTI23 as the borrowing agent and attorney-in-fact for all Loan Parties (the “Administrative Borrower”) which appointment shall remain in full force and effect unless and until Agent shall have received prior written notice signed by each Loan Party that such appointment has been revoked and that another Loan Party has been appointed Administrative Borrower. Each Loan Party hereby irrevocably appoints and authorizes Administrative Borrower (a) to provide Agent with all notices with respect to Term Loans and all other notices and instructions under the Loan Documents (and any notice or instruction provided by Administrative Borrower shall be deemed to be given by Loan Parties hereunder and shall bind each Loan Party), (b) to receive all notices, instructions and other information from Agent (and any notice, instructions or other information provided by Agent to Administrative Borrower shall be deemed to have been given to each Loan Party), and (c) to take such action as Administrative Borrower deems appropriate on its behalf to obtain Term Loans and to exercise such other powers as are reasonably incidental thereto to carry out the purposes of this Agreement. Each Loan Party agrees that the handling of the Credit Facility, with Loan Parties and Collateral in a combined fashion, as more fully set forth herein, is done solely as an accommodation to Loan Parties in order to utilize the collective borrowing powers of Borrowers in the most efficient and economical manner and at their request, and that Agent and Lenders shall not incur liability to any Loan Party as a result hereof. Each Loan Party expects to derive benefit, directly or indirectly, from the handling of the Credit Facility, with Loan Parties and Collateral in a combined fashion, since the successful operation of each Loan Party is dependent on the continued successful performance of the integrated group. Each Loan Party hereby agrees to indemnify Agent and each Lender and hold Agent and each Lender harmless against any and all liability, expense, loss or claim of damage or injury, made against Agent or such Lender by any Loan Party or by any third party whosoever, arising from or incurred by reason of (i) the handling of the Credit Facility as herein provided, or (ii) Agent or any Lender relying on any instructions of Administrative Borrower. This Section shall survive the termination of this Agreement and the payment in full of the Obligations.
Agent for Borrowers. (a) Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes Valley Health Holdings, LLC as its agent (“Borrowers’ Agent”) to request and receive advances in respect of the Loan (and to otherwise act on behalf of each such entity pursuant to this Agreement and the other Loan Documents) in the name or on behalf of each such Borrower. Agent may disburse proceeds of the Loan to the bank account of any one or more of such entities without notice to any of the other entities comprising Borrowers or any other Person at any time obligated on or in respect of the Obligations.
(b) Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes Borrowers’ Agent as its agent to receive statements of account and all other notices from Agent with respect to the Obligations or otherwise under or in connection with this Agreement and the other Loan Documents.
(c) Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes Borrowers’ Agent as its agent to execute and deliver the Loan Documents, any amendments to or waivers of any of the foregoing, and any other agreements, documents, consents, instruments, records or filings delivered under or in connection with this Agreement or the other Loan Documents in the name of or on behalf of such entity. Each of the entities comprising Borrowers hereby ratifies any and all Loan Documents and any and all other agreements, documents, instruments, records or filings previously executed and delivered by Borrowers’ Agent under or in connection with this Agreement and the other Loan Documents in such Borrower’s name or on its behalf.
(d) No purported termination of the appointment of Borrowers’ Agent as agent for Borrowers shall be effective without the prior written consent of Agent.
Agent for Borrowers. [* ]
(a) Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes as its agent (“Borrowers’ Agent”) to request and direct advances in respect of the Loan (and to otherwise act on behalf of each such entity pursuant to this Agreement and the other Loan Documents) in the name or on behalf of each such Borrower. Administrative Agent may disburse proceeds of the Loan to the bank account of any one or more of such entities without notice to any of the other entities comprising Borrowers or any other Person at any time obligated on or in respect of the Obligations.
(b) Each of the entities comprising Borrowers hereby irrevocably appoints and constitutes Borrowers’ Agent as its agent to receive statements of account and all other notices from Administrative Agent with respect to the Obligations or otherwise under or in connection with this Agreement and the other Loan Documents.
(c) No purported termination of the appointment of Borrowers’ Agent as agent for Borrowers shall be effective without the prior written consent of Administrative Agent.
Agent for Borrowers. 99 Section 12.17 Records ......................................................... 100 Section 12.18 Binding Effect .................................................. 100 Section 12.19 Interest ........................................................ 100 Section 12.20 Confidentiality ................................................. 101 Section 12.21 Integration ..................................................... 102
Agent for Borrowers. (a) Each Borrower hereby irrevocably appoints and constitutes Medical Center II - Peoria, AZ Project Borrower as its agent (“Borrowers’ Agent”) to request and receive advances in respect of the Loan (and to otherwise act on behalf of each such entity CONA – Healthcare Trust, Inc. 92119388.8 pursuant to this Agreement and the other Loan Documents) in the name or on behalf of each such Borrower. Administrative Agent may disburse proceeds of the Loan to the bank account of Medical Center II - Peoria, AZ Project Borrower without notice to any of the other entities comprising Borrowers or any other Person at any time obligated on or in respect of the Obligations.
(b) Each Borrower hereby irrevocably appoints and constitutes Borrowers’ Agent as its agent to receive statements of account and all other notices from Administrative Agent with respect to the Obligations or otherwise under or in connection with this Agreement and the other Loan Documents.
(c) No purported termination of the appointment of Borrowers’ Agent as agent for such Borrowers shall be effective without the prior written consent of Administrative Agent.
Agent for Borrowers. (a) The Borrowers agree that Bayard shall be the true and lawful agent and attorney-in-fact of the Borrowers hereunder in connection with all of the rights, powers and duties of the Borrowers hereunder, including, without limitation, the giving or withholding and the receipt of consents and notices.
(b) The Agent and the Lenders shall be entitled to and agree to treat any notice given or action taken by Bayard, acting in its capacity as agent, as a notice from or an action by the Borrowers.