Common use of Appointment of the Borrower Clause in Contracts

Appointment of the Borrower. Each of the Loan Parties hereby appoints the Borrower to act as its agent (when acting in such capacity, the “Loan Party Agent”) for all purposes of this Agreement, the other Loan Documents and all other documents and electronic platforms entered into in connection herewith and agrees that (a) the Loan Party Agent may execute such documents and provide such authorizations on behalf of such Loan Parties as the Loan Party Agent deems appropriate in its sole discretion and each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any notice or communication delivered by the Administrative Agent or a Lender to the Loan Party Agent shall be deemed delivered to each Loan Party and (c) the Administrative Agent or the Lenders may accept, and be permitted to rely on, any document, authorization, instrument or agreement executed by the Loan Part Agent on behalf of each of the Loan Parties.

Appears in 2 contracts

Samples: Credit Agreement (PureCycle Technologies, Inc.), Credit Agreement (PureCycle Technologies, Inc.)

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Appointment of the Borrower. Each of the Loan Parties hereby appoints the Borrower to act as its agent (when acting in such capacity, the “Loan Party Agent”) for all purposes of this Agreement, the other Loan Documents and all other documents and electronic platforms entered into in connection herewith and agrees that (a) the Loan Party Agent Borrower may execute such documents and provide such authorizations on behalf of such Loan Parties as the Loan Party Agent Borrower deems appropriate in its sole discretion and each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any notice or communication delivered by the Administrative Agent or a Lender to the Loan Party Agent Borrower shall be deemed delivered to each Loan Party and (c) the Administrative Agent or the Lenders may accept, and be permitted to rely on, any document, authorization, instrument or agreement executed by the Loan Part Agent Borrower on behalf of each of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Parsons Corp)

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Appointment of the Borrower. Each of the Loan Parties hereby appoints the Borrower to act as its agent (when acting in such capacity, the “Loan Party Agent”) for all purposes of this Agreement, the other Loan Documents and all other documents and electronic platforms entered into in connection herewith and agrees that (a) the Loan Party Agent Borrower may execute such documents and provide such authorizations on behalf of such Loan Parties as the Loan Party Agent Borrower deems appropriate in its sole discretion and each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any notice or communication delivered by the Administrative Agent Agent, an L/C Issuer or a Lender to the Loan Party Agent Borrower shall be deemed delivered to each Loan Party and (c) the Administrative Agent Agent, L/C Issuers or the Lenders may accept, and be permitted to rely on, any document, authorization, instrument or agreement executed by the Loan Part Agent Borrower on behalf of each of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Parsons Corp)

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