Agent May Act Clause Samples
The "Agent May Act" clause defines the authority granted to an agent to perform actions on behalf of a principal within the scope of their agreement. This typically means the agent can make decisions, enter into contracts, or carry out transactions as authorized, such as negotiating deals or signing documents for the principal. The core function of this clause is to clarify the agent's powers and ensure that third parties understand the agent's legal ability to act, thereby reducing uncertainty and facilitating smooth business operations.
Agent May Act. Each Agent may make loans to, accept deposits from and generally engage in any kind of business with MBIA, all as though it were not an Agent hereunder. The terms “Banks” and “Majority Banks” and any similar terms shall include each Agent in its individual corporate capacity as a Bank or one of the Majority Banks.
Agent May Act. If Assignor fails to comply with any of its obligations hereunder, Agent may do so in Assignor’s name or in Agent’s name to the extent permitted by applicable law, but at Assignor’s expense, and Assignor hereby agrees to reimburse Agent in full for all reasonable expenses, including, without limitation, reasonable attorneys’ fees, incurred by Agent in protecting, defending or maintaining the value of the LLC Interest.
Agent May Act. The Administrative Agent may make loans to, accept deposits from and generally engage in any kind of business with the Borrower, all as though it were not Administrative Agent hereunder. The terms “Lenders” and “Majority Lenders” and any similar terms shall include the Administrative Agent in its individual corporate capacity as a Lender or one of the Majority Lenders.
Agent May Act. The Agent may, in its discretion, for the account and expense of the Grantors, pay any amount or do any act required of the Grantors hereunder 175 or reasonably requested by the Secured Parties to preserve, protect, maintain or enforce the Obligations, the Collateral or the first priority Lien granted herein (subject only to Permitted Liens), and which the Grantors fail to do or pay within any applicable grace period provided for in the Loan Documents (it being understood that no grace period exists for the maintenance of insurance required by Section 11), and any such payment shall be deemed an advance by the Lenders to the Grantors and shall be payable on demand together with interest at the Default Rate, and shall constitute part of the Obligations; provided, however, that this provision shall not impair the Grantors' rights to contest Liens as provided in Section 8.4 of the Credit Agreement.
Agent May Act. In the event such Grantor (i) shall fail to maintain, or fail to cause to be maintained, the full insurance coverage required hereunder or (ii) shall fail to keep any of its Collateral in good repair and good operating condition subject to ordinary wear and tear (and in the case of an Aircraft or Engine subject to a Lease or Carrier Loan Document, such failure to maintain in good repair amounts to a default under such Lease or Carrier Loan Document), then the Agent may (but shall be under no obligation to), without waiving or