Alternatively the Agent Sample Clauses
The 'Alternatively the Agent' clause provides an option for the agent to take a specific action or make a decision in place of another party or under certain circumstances. In practice, this clause might allow the agent to perform duties, make payments, or exercise rights if the principal fails to act or if a particular event occurs. Its core function is to ensure continuity and flexibility in the execution of the agreement, addressing potential gaps or delays by empowering the agent to act when necessary.
Alternatively the Agent may resign by giving notice to the other Finance Parties and the Borrower, in which case the Lenders (after consultation with the Borrower) may appoint a successor Agent.
Alternatively the Agent and the Security Agent may resign by giving 30 days’ notice to the other Lenders and the Borrower, in which case the Majority Lenders (after consultation with the Borrower) may appoint a successor Agent or Security Agent (as the case may be).
Alternatively the Agent or Security Trustee may resign by giving notice to the other Finance Parties and the Company, in which case the Majority Banks (after consultation with the Company) may appoint a successor Agent or Security Trustee.
Alternatively the Agent and the Security Agent may resign by giving notice to the other Finance Parties and the Borrowers, in which case the Majority Lenders (after consultation with the German Borrower) may appoint a successor Agent or Security Agent.
Alternatively the Agent may resign by giving notice to the other Finance Parties and the Italian Borrower, in which case the Majority Lenders may appoint a successor Agent. Such successor Agent must be acceptable to the Italian Borrower acting reasonably and in good faith.
Alternatively the Agent may resign by giving notice to the other Finance Parties and the Italian Borrower, in which case the Majority Lenders may appoint a successor Agent. Such successor Agent must be acceptable to the Italian Borrower acting reasonably and in good faith.