Common use of Appointment; Nature of Relationship Clause in Contracts

Appointment; Nature of Relationship. JPMCB is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the “Agent”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 15 contracts

Samples: Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Union Electric Co)

AutoNDA by SimpleDocs

Appointment; Nature of Relationship. JPMCB Chase is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to in this Section 10.1 in such capacity as the “Agent”) hereunder and under each other Loan DocumentDocument (including, without limitation, as “Collateral Agent” under each of the Collateral Documents), and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Agent (ia) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (iib) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iiic) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 5 contracts

Samples: Credit Agreement (Star Gas Partners Lp), Credit Agreement (Star Group, L.P.), Credit Agreement (Star Gas Partners Lp)

Appointment; Nature of Relationship. JPMCB is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the "Agent") hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders' and the Issuing Banks' contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, (ii) is a "representative" of the Lenders and the Issuing Banks within the meaning of the term "secured party" as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 2 contracts

Samples: Credit Agreement (Union Electric Co), Credit Agreement (Union Electric Co)

Appointment; Nature of Relationship. JPMCB is hereby appointed by each Subject to the terms and conditions contained in this Agreement, the Agent (on behalf of the Lenders Banks) and each of the Issuing Banks Noteholders hereby designate and appoint SunTrust as its contractual representative (herein referred to as their Collateral Agent under this Agreement and the “Agent”) hereunder and under each other Loan DocumentCollateral Documents, and each of them hereby authorizes the Lenders Collateral Agent to take such action on its behalf under the provisions of this Agreement and the each of the Issuing Banks irrevocably authorizes the Agent Collateral Documents and to act exercise such powers as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly are set forth herein and in the or therein, together with such other Loan Documentspowers as are incidental thereto. The Collateral Agent agrees to act as such contractual representative upon on the express terms and conditions contained in this Article X. Agreement. Notwithstanding the use of the defined term “Collateral Agent,” it is expressly understood and agreed that the Collateral Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank Secured Party by reason of this Agreement or any other Loan Document and that the Collateral Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks Secured Parties with only those duties as are expressly set forth in this Agreement and the other Loan Collateral Documents. In its capacity as the Lenders’ and the Issuing BanksSecured Parties’ contractual representative, the Collateral Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, Secured Parties and (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Collateral Documents. Each The Agent (on behalf of the Lenders Banks) and the Issuing Banks hereby agrees Noteholders agree to assert no claim against the Collateral Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender of them hereby waives.

Appears in 2 contracts

Samples: Intercreditor Agreement (Encore Capital Group Inc), Intercreditor Agreement (Encore Capital Group Inc)

Appointment; Nature of Relationship. JPMCB is hereby appointed by each The Agent, on behalf of the Lenders Banks, and each Noteholder and each Additional Holder by its acceptance of the Issuing Banks any Lender Document, hereby designates and appoints JPMCB as its contractual representative (herein referred to as Collateral Agent under this Agreement and the “Agent”) hereunder and under each other Loan DocumentCollateral Documents, and each of the Lenders and the each of the Issuing Banks them hereby irrevocably authorizes the Collateral Agent to act take such action on its behalf under the provisions of this Agreement and the Collateral Documents and to exercise such powers as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly are set forth herein and in the or therein, together with such other Loan Documentspowers as are incidental thereto. The Collateral Agent agrees to act as such contractual representative upon on the express terms and conditions contained in this Article X. Agreement. Notwithstanding the use of the defined term “Collateral Agent,” it is expressly understood and agreed that the Collateral Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Collateral Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Collateral Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Collateral Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, and (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Collateral Documents. Each The Agent, on behalf of the Lenders Banks, each Noteholder and the Issuing Banks hereby each Additional Holder by its acceptance of any Lender Document agrees to assert no claim against the Collateral Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender of them hereby waives.

Appears in 2 contracts

Samples: Intercreditor Agreement (United Stationers Inc), Intercreditor Agreement (United Stationers Inc)

Appointment; Nature of Relationship. JPMCB JPMorgan is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the “Agent”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 2 contracts

Samples: Credit Agreement (Ameren Illinois Co), Credit Agreement (Ameren Illinois Co)

Appointment; Nature of Relationship. JPMCB Bank One, NA, having its principal office in Chicago, Illinois is hereby appointed by each of the Lenders (including the Issuing Lender, and each of reference in this Article X to a Lender shall include the Issuing Banks Lender) as its contractual representative (herein referred to as the "Agent") hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ ' contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (ii) is a "representative" of the Lenders and the Issuing Banks within the meaning of Section 9-105 of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Credit Agreement (Bio Rad Laboratories Inc)

Appointment; Nature of Relationship. JPMCB CLNY is hereby appointed by each of the Term Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the “Agent”) Administrative Agent hereunder and under each other Loan DocumentCredit Document (other than the Security Documents), and to act as the Collateral Agent under each of the Security Documents, and each of the Term Lenders and the each of the Issuing Banks irrevocably authorizes the Agent Agents to act as the contractual representative representatives of such Term Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Credit Documents. The Agent agrees Agents agree to act as such contractual representative upon the express conditions contained in this Article X. IX. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that neither of the Agent Agents shall not have any fiduciary responsibilities to any Term Lender or any Issuing Bank by reason of this Agreement or any other Loan Credit Document and that the Agent is Agents are merely acting as the contractual representative representatives of the Term Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Credit Documents. In its capacity as the Term Lenders’ and the Issuing Banks’ ' contractual representative, the Agent Agents (ia) does do not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksTerm Lenders, (iib) is a “representative” are "representatives" of the Term Lenders and the Issuing Banks within the meaning of Section 9-105 of the term “secured party” as defined in the New York Uniform Commercial Code as adopted in the State of New York and (iiic) is are acting as an independent contractorcontractors, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Credit Documents. Each of the Term Lenders and the Issuing Banks hereby agrees to assert no claim against either of the Agent Agents on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Term Lender hereby waives.

Appears in 1 contract

Samples: Security Agreement (Pride International Inc)

Appointment; Nature of Relationship. JPMCB JPMorgan Chase Bank, N.A. is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the "Agent") hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank Banks with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders' and the Issuing Banks' contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the any Issuing Banks, Bank and (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks Banks, for itself and each of its Affiliates, hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender, each Issuing Bank and each Affiliate of each Lender and each Issuing Bank hereby waives.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle West Capital Corp)

Appointment; Nature of Relationship. JPMCB is hereby appointed by each of the Lenders Xxxxxxx and each of the Issuing Banks as its contractual representative (herein referred to as the “Agent”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender Xxxxxx and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks Xxxxx hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Credit Agreement

Appointment; Nature of Relationship. JPMCB JPMorgan Chase Bank is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the "Agent") hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank Banks with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders' and the Issuing Banks' contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the any Issuing Banks, Bank and (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks Banks, for itself and each of its Affiliates, hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender, each Issuing Bank and each Affiliate of each Lender and each Issuing Bank hereby waives.

Appears in 1 contract

Samples: Credit Agreement (Pinnacle West Capital Corp)

Appointment; Nature of Relationship. JPMCB Bank One is hereby appointed by the Lenders (each reference in this Article XI to a Lender being in its capacity either as a Lender or an Issuing Lender or a Swing Line Lender, or any or all of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to foregoing) as the “Agent”) Administrative Agent hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Administrative Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Administrative Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. XI. Notwithstanding the use of the defined term "Administrative Agent," it is expressly understood and agreed that the Administrative Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Administrative Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ ' contractual representative, the Administrative Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (ii) is a "representative" of the Lenders and the Issuing Banks within the meaning of Section 9-105 of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Administrative Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Brightpoint Inc)

AutoNDA by SimpleDocs

Appointment; Nature of Relationship. JPMCB is hereby appointed by each Subject to the terms and conditions contained in this Agreement, the Agent (on behalf of the Lenders Banks) and each of the Issuing Banks Pru Noteholders hereby designate and appoint SunTrust as its contractual representative (herein referred to as their Collateral Agent under this Agreement and the “Agent”) hereunder and under each other Loan DocumentCollateral Documents, and each of them hereby authorizes the Lenders Collateral Agent to take such action on its behalf under the provisions of this Agreement and the each of the Issuing Banks irrevocably authorizes the Agent Collateral Documents and to act exercise such powers as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly are set forth herein and in the or therein, together with such other Loan Documentspowers as are incidental thereto. The Collateral Agent agrees to act as such contractual representative upon on the express terms and conditions contained in this Article X. Agreement. Notwithstanding the use of the defined term “Collateral Agent,” it is expressly understood and agreed that the Collateral Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank Secured Party by reason of this Agreement or any other Loan Document and that the Collateral Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks Secured Parties with only those duties as are expressly set forth in this Agreement and the other Loan Collateral Documents. In its capacity as the Lenders’ and the Issuing BanksSecured Parties’ contractual representative, the Collateral Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing Banks, Secured Parties and (ii) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Collateral Documents. Each The Agent (on behalf of the Lenders Banks) and the Issuing Banks hereby agrees Pru Noteholders agree to assert no claim against the Collateral Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender of them hereby waives.

Appears in 1 contract

Samples: Intercreditor Agreement (Encore Capital Group Inc)

Appointment; Nature of Relationship. JPMCB The First National Bank of ----------------------------------- Chicago is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to as the "Agent") hereunder and under each other Loan Document, under each of the Related Facility Credit Agreements each of the Subsidiary Borrower Loan Documents (as defined in the Related Facility Credit Agreements) (collectively, the "Combined Credit Facilities Documents") and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Combined Credit Facilities Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term "Agent," it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Combined Credit Facilities Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Combined Credit Facilities Documents. In its capacity as the Lenders’ and the Issuing Banks’ ' contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (ii) is a "representative" of the Lenders and the Issuing Banks within the meaning of Section 9-105 of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Combined Credit Facilities Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Credit Agreement (Qad Inc)

Appointment; Nature of Relationship. JPMCB NBD is hereby appointed by the Lenders (each reference in this Article XI to a Lender being in its capacity either as a Lender or an Issuing Lender or a Swing Line Lender, or any or all of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to foregoing) as the “Agent”) Administrative Agent hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Administrative Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Administrative Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. XI. Notwithstanding the use of the defined term "Administrative Agent," it is expressly understood and agreed that the Administrative Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Administrative Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ ' contractual representative, the Administrative Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (ii) is a "representative" of the Lenders and the Issuing Banks within the meaning of Section 9-105 of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Administrative Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Brightpoint Inc)

Appointment; Nature of Relationship. JPMCB Chase is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein referred to in this Section 10.1 in such capacity as the “Agent”) hereunder and under each other Loan DocumentDocument (including, without limitation, as “Collateral Agent” under each of the Collateral Documents), and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Agent (ia) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (iib) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code and (iiic) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.. 124

Appears in 1 contract

Samples: Credit Agreement (Star Group, L.P.)

Appointment; Nature of Relationship. JPMCB UBS AG, Stamford Bank, is hereby appointed by each of the Lenders and each of the Issuing Banks as its contractual representative (herein representative, therein referred to as the “Administrative Agent”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Administrative Agent to act as the contractual representative of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Administrative Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. XI. Notwithstanding the use of the defined term “Administrative Agent,” it is expressly understood and agreed that the Administrative Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Administrative Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing Banks’ contractual representative, the Administrative Agent (ia) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (iib) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured partySecured Party” as defined in the New York Uniform Commercial Code and (iiic) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against the Administrative Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives. The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and neither the Borrower nor any other party to this Agreement shall have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Day Credit Agreement (Illinois Tool Works Inc)

Appointment; Nature of Relationship. JPMCB Bank One is hereby appointed by each of the Lenders and each of the Issuing Banks LC Issuers as its contractual representative (herein referred to as the “Administrative Agent”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks LC Issuers irrevocably authorizes the Administrative Agent to act as the contractual representative of such Lender and such Issuing Bank LC Issuer with the rights and duties expressly set forth herein and in the other Loan Documents. The Administrative Agent agrees to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Administrative Agent,” it is expressly understood and agreed that the Administrative Agent shall not have any fiduciary responsibilities to any Lender or any Issuing Bank LC Issuer by reason of this Agreement or any other Loan Document and that the Administrative Agent is merely acting as the contractual representative of the Lenders and the Issuing Banks LC Issuers with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its capacity as the Lenders’ and the Issuing BanksLC Issuers’ contractual representative, the Administrative Agent (i) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLC Issuers, (ii) is a “representative” of the Lenders and the Issuing Banks LC Issuers within the meaning of Section 9-102(a)(72) of the term “secured party” as defined in the New York Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks LC Issuers hereby agrees to assert no claim against the Administrative Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender and LC Issuer hereby waives.

Appears in 1 contract

Samples: Credit Agreement (Duquesne Light Holdings Inc)

Appointment; Nature of Relationship. JPMCB JPMorgan Chase Bank is hereby appointed by each of the Lenders and each of the Issuing Banks as its a contractual representative (herein referred to as the “Administrative Agent”) and Bank One, NA is hereby appointed by each of the Lenders as a contractual representative (herein referred to as the “Collateral Agent”; the Administrative Agent and the Collateral Agent each an “Agent” and, collectively, the “Agents”) hereunder and under each other Loan Document, and each of the Lenders and the each of the Issuing Banks irrevocably authorizes the Agent Agents to act as the contractual representative representatives of such Lender and such Issuing Bank with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent Each Agents agrees to act as such contractual representative upon the express conditions contained in this Article X. 10. Notwithstanding the use of the defined term “Agentagent,” it is expressly understood and agreed that neither of the Agent Agents shall not have any fiduciary responsibilities to any Lender or any Issuing Bank by reason of this Agreement or any other Loan Document and that the Agent is Agents are merely acting as the contractual representative of the Lenders and the Issuing Banks with only those duties as are expressly set forth in this Agreement and the other Loan Documents. In its their capacity as the Lenders’ and contractual representatives, each of the Issuing Banks’ contractual representative, the Agent Agents (ia) does not hereby assume any fiduciary duties to any of the Lenders or the Issuing BanksLenders, (iib) is a “representative” of the Lenders and the Issuing Banks within the meaning of the term “secured party” as defined in the New York Uniform Commercial Code UCC, and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other Loan Documents. Each of the Lenders and the Issuing Banks hereby agrees to assert no claim against either of the Agent Agents on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives.

Appears in 1 contract

Samples: Credit Agreement (K2 Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.