Common use of Authorization and Action Clause in Contracts

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.

Appears in 14 contracts

Sources: Credit Agreement (Appalachian Power Co), Credit Agreement (Southwestern Electric Power Co), Credit Agreement (Columbus Southern Power Co /Oh/)

Authorization and Action. Each Lender hereby appoints the Agent as its Agent under, and irrevocably authorizes the Administrative Agent (subject to Section 9.11) to take such action as agent on its behalf and to exercise such powers and discretion under this any Financing Agreement as are delegated to the Administrative Agent by the terms hereofthereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion Without limitation of the Administrative Agentforegoing, such matters shall be subject each Lender expressly authorizes the Agent to the sole discretion execute, deliver, and perform its obligations under each of the Administrative AgentFinancing Agreements to which the Agent is a party, its directorsand to exercise all rights, officerspowers, agents and employeesremedies that the Agent may have thereunder. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Agreement, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act act, or to refrain from acting (and shall be fully protected in so acting or refraining from acting) ), upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lendersthe Lenders and all holders of any Note; provided, provided however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this any Financing Agreement.

Appears in 8 contracts

Sources: Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons Inc), Loan Agreement (Andersons Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 7 contracts

Sources: Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co), Credit Agreement (AEP Texas Inc.)

Authorization and Action. Each Lender of the Lenders hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and under the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and in the other Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, the other Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower PPG pursuant to the terms of this AgreementAgreement or the other Loan Documents.

Appears in 6 contracts

Sources: Term Loan Credit Agreement (PPG Industries Inc), Term Loan Credit Agreement (PPG Industries Inc), Term Loan Credit Agreement (PPG Industries Inc)

Authorization and Action. Each Lender and each LC Issuing Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 6 contracts

Sources: Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co), Credit Agreement (AEP Texas Inc.)

Authorization and Action. Each Lender hereby appoints and authorizes CUSA to act as the Administrative Agent under this Agreement and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances and other amounts owing hereunder), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any of the Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreementthe Loan Documents.

Appears in 5 contracts

Sources: Revolving Credit Agreement (Hormel Foods Corp /De/), Credit Agreement (Hormel Foods Corp /De/), Revolving Credit Agreement (Hormel Foods Corp /De/)

Authorization and Action. Each Lender Party (in its capacities as a Lender, a Swing Line Bank (if applicable), an Issuing Bank (if applicable) and, on behalf of itself and its Affiliates, a potential Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.

Appears in 5 contracts

Sources: Credit Agreement (Uniroyal Chemical Co Inc), Credit Agreement (Uniroyal Chemical Co Inc), Credit Agreement (Crompton & Knowles Corp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), the Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders (or, if required hereby, all Lenders), and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 5 contracts

Sources: Credit Agreement (Esterline Technologies Corp), Credit Agreement (Esterline Technologies Corp), Credit Agreement (Esterline Technologies Corp)

Authorization and Action. (a) Each Lender Party hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Financing Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Financing Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender Party prompt notice (including matters disclosed in writing to the Administrative Agent as described in clause (b) of the definition of “Disclosed Matters”) of each notice given to it by the Borrower or any Borrower other Person pursuant to the terms of this AgreementAgreement or any other Financing Documents.

Appears in 5 contracts

Sources: Credit Agreement (Allegheny Energy, Inc), Credit Agreement (Allegheny Energy, Inc), Credit Agreement (Allegheny Energy, Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As Notwithstanding any provision to any matters expressly provided for the contrary contained elsewhere in this Agreement as being subject or in any other Loan Document, the Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Administrative Agent have or be deemed to the discretion of have any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 5 contracts

Sources: Credit Agreement (Mexican Economic Development Inc), Credit Agreement (Panamerican Beverages Inc), Credit Agreement (Panamerican Beverages Inc)

Authorization and Action. Each Lender (in its capacities as a Lender and Swingline Lender, as applicable) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative such Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by PMI or any Borrower pursuant to as required by the terms of this AgreementAgreement or at the request of PMI or such Borrower, and any notice provided pursuant to Section 5.1(b)(ii). Citi, as Facility Agent, may execute any of its duties under this Agreement by or through its affiliate, Citibank.

Appears in 5 contracts

Sources: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.)

Authorization and Action. Each Lender Lender, the Swingline Bank and each LC Issuing Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 5 contracts

Sources: Credit Agreement (Southwestern Electric Power Co), Credit Agreement (American Electric Power Co Inc), Credit Agreement (American Electric Power Co Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, including enforcement of this Agreement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. Nothing in this Agreement shall impose upon any Co-Syndication Agent or Co-Documentation Agent, in its capacity as such, any duty or liability whatsoever.

Appears in 5 contracts

Sources: Short Term Revolving Credit Agreement (Burlington Resources Inc), Long Term Revolving Credit Agreement (Burlington Resources Inc), Canadian Credit Agreement (Burlington Resources Inc)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable) and the Issuing Bank (if applicable) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 4 contracts

Sources: Credit Agreement (Central Tractor Farm & Country Inc), Credit Agreement (Central Tractor Farm & Country Inc), Credit Agreement (Quality Stores Inc)

Authorization and Action. Each Lender and Issuing Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes or CAF Notes, if any), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes or CAF Notes (if any); provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 4 contracts

Sources: Credit Agreement (Centerpoint Energy Inc), Credit Agreement (Centerpoint Energy Houston Electric LLC), Credit Agreement (Centerpoint Energy Resources Corp)

Authorization and Action. Each Lender of the Lenders and Issuing Lenders hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and under the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and in the other Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, the other Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender and Issuing Lender prompt notice of each notice given to it by PPG or any other Borrower pursuant to the terms of this AgreementAgreement or the other Loan Documents.

Appears in 4 contracts

Sources: Amendment to Credit Agreement (PPG Industries Inc), Five Year Credit Agreement (PPG Industries Inc), Credit Agreement (PPG Industries Inc)

Authorization and Action. (a) Each Lender Party hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. (b) The Arrangers shall have no powers or discretion under this Agreement or any of the other Loan Documents and each of the Lender Parties hereby acknowledges that the Arrangers have no liability under this Agreement or under any of the other Loan Documents.

Appears in 4 contracts

Sources: Credit Agreement (Sodexho Alliance S A), Credit Agreement (Sodexho Alliance S A), Credit Agreement (Sodexho Mariott Services Inc)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent Agent, as agent on behalf of such Bank, to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement the Credit Documents as are delegated to the Administrative Agent by the terms hereofthereof, together with such powers and discretion as are reasonably incidental thereto. As to any (a) matters expressly provided for in this Agreement requiring or permitting an approval, consent, waiver, election or other action by the Majority Banks, (b) matters as being subject to the discretion which, notwithstanding any delegation of the Administrative authority to Agent, such matters shall be subject to Agent has requested instructions from the sole discretion of the Administrative AgentMajority Banks, its directors, officers, agents and employees. As to any or (c) matters not expressly provided for by this Agreement (includingthe Credit Documents, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting only (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersMajority Banks, and such instructions shall be binding upon all LendersBanks; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Credit Document or Applicable applicable Law. The Administrative Agent agrees to give to each Lender Bank prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementany Credit Document.

Appears in 4 contracts

Sources: Credit Agreement (Midamerican Energy Holdings Co /New/), Credit Agreement (Midamerican Energy Holdings Co /New/), Credit Agreement (Midamerican Energy Holdings Co /New/)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Credit Documents as are delegated to the Administrative Agent by the terms hereofhereof and of the other Credit Documents, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement or any other Credit Document (including, without limitation, including enforcement or collection of the outstanding BorrowingsObligations), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders or all Lenders, and such instructions shall be binding upon all LendersLenders and all holders of the Obligations; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement Agreement, any other Credit Document, or Applicable Lawapplicable Legal Requirements. The It is understood and agreed that the use of the term “agent” herein or in any other Credit Documents (or any other similar term) with reference to the Administrative Agent agrees is not intended to give connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementcreate or reflect only an administrative relationship between contracting parties.

Appears in 4 contracts

Sources: 5 Year Credit Agreement (NOV Inc.), 5 Year Credit Agreement (National Oilwell Varco Inc), Credit Agreement (National Oilwell Varco Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement the Loan Documents as are expressly delegated to the Administrative such Agent by the terms hereofthereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters Each Agent shall have no duties or responsibilities except those expressly provided for set forth in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employeesany other Loan Document. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative each Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law or is not within the powers and discretion expressly delegated to such Agent pursuant to the Loan Documents. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to received by it by any from the Borrower pursuant to the terms of this Agreement.

Appears in 4 contracts

Sources: Credit Agreement (Frontier Airlines Inc /Co/), Credit Agreement (Northwest Airlines Corp), Credit Agreement (Northwest Airlines Corp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), the Issuing Bank (if applicable) and a potential Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; providedPROVIDED, howeverHOWEVER, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any either Borrower pursuant to the terms of this Agreement.

Appears in 3 contracts

Sources: Credit Agreement (Accuride Corp), Credit Agreement (Accuride Corp), Credit Agreement (Accuride Corp)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Agreement, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, Majority Banks and such instructions shall be binding upon all LendersBanks and all holders of Purchased Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Bank prompt notice of each notice given to it by any Borrower the Company pursuant to the terms of this Agreement. In performing its functions and duties under this Agreement, the Administrative Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for the Company.

Appears in 3 contracts

Sources: Standby Note Purchase Credit Facility (Detroit Edison Co), Standby Note Purchase Credit Facility (Detroit Edison Co), Standby Note Purchase Credit Facility (Detroit Edison Co)

Authorization and Action. Each Lender of the Lenders hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and under the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and in the other Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, the other Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by PPG or any other Borrower pursuant to the terms of this AgreementAgreement or the other Loan Documents.

Appears in 3 contracts

Sources: Term Loan Agreement (PPG Industries Inc), 364 Day Credit Agreement (PPG Industries Inc), 364 Day Credit Agreement (PPG Industries Inc)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), and as an Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. Notwithstanding anything to the contrary in any Loan Document, no Person identified as a syndication agent, documentation agent, senior manager, joint lead arranger or joint book running manager, in such Person’s capacity as such, shall have any obligations or duties to any Loan Party, the Administrative Agent or any other Secured Party under any of such Loan Documents.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Digital Realty Trust, L.P.), Revolving Credit Agreement (Digital Realty Trust, L.P.), Revolving Credit Agreement (Digital Realty Trust, Inc.)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent Administrative Agent deems appropriate on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Papers as are delegated to the Administrative Agent by the terms hereofof the Loan Papers, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and the other Loan Papers (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders (or all Lenders, if required under Section 10.01), and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Loan Papers or Applicable applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this AgreementAgreement and to distribute to each applicable Lender in like funds all amounts delivered to Administrative Agent by the Borrower for the Ratable or individual account of any Lender.

Appears in 3 contracts

Sources: Credit Agreement (World Access Inc /New/), Credit Agreement (World Access Inc /New/), Credit Agreement (Telergy Inc /Ny)

Authorization and Action. Each Lender Party (in its capacity as a Lender, the Issuing Bank, the Swing Line Bank and/or any Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, any other Loan Document or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. The Administrative Agent shall not be a trustee or fiduciary for any Lender.

Appears in 3 contracts

Sources: Credit Agreement (Applied Graphics Technologies Inc), Credit Agreement (Applied Graphics Technologies Inc), Credit Agreement (Applied Graphics Technologies Inc)

Authorization and Action. Each Lender (in its capacities as a Lender and Swingline Lender, as applicable) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative such Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by PMI or any Borrower pursuant to as required by the terms of this Agreement.Agreement or at the request of PMI or such Borrower, and any notice provided pursuant to Section 5.1(c)(ii). JPMEL, as Facility Agent, may execute any of its duties under this Agreement by or through its affiliate, JPMorgan Chase Bank, N.A.

Appears in 3 contracts

Sources: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersLenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.

Appears in 3 contracts

Sources: Credit Agreement (Livent Corp.), Credit Agreement (Livent Corp.), Credit Agreement (Livent Corp.)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent shall not be liable to any Lender if, in accordance with the terms of this Agreement, it takes or omits to take any action pursuant to the instructions of the Requisite Lenders. The Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. The Agent agrees to perform and discharge the duties and powers delegated to it under this Agreement and the other Loan Documents in accordance with the terms hereof and thereof.

Appears in 3 contracts

Sources: Secured Super Priority Debtor in Possession Revolving Credit Agreement (Integrated Health Services Inc), Revolving Credit Agreement (Integrated Health Services Inc), Revolving Credit Agreement (Integrated Health Services Inc)

Authorization and Action. Each Lender hereby appoints and authorizes (a) the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As , and (b) the Documentation Agent to any matters expressly provided for in take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as being subject are delegated to the Documentation Agent by the terms hereof, together with such powers and discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employeesas are reasonably incidental thereto. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by the Borrower or any Borrower of its Subsidiaries pursuant to the terms of this Agreement.

Appears in 3 contracts

Sources: Credit Agreement (United Parcel Service Inc), Credit Agreement (United Parcel Service Inc), Credit Agreement (United Parcel Service of America Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Lender Agreements as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and the other Lender Agreements (including, without limitation, enforcement or collection of the outstanding BorrowingsRevolving Credit Notes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawthe other Lender Agreements or applicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant Subject to the terms foregoing provisions and to the other provisions of this Agreement.Article 13, the Agent shall, on behalf of the Lenders: (a) execute any documents on behalf of the Lenders providing collateral for or guarantees of the Lender Obligations; (b) hold and apply any collateral for the Lender Obligations, and the proceeds thereof, at any time received by it, in accordance with the provisions of this Agreement and the other Lender Agreements;

Appears in 3 contracts

Sources: Credit Agreement (Tweeter Home Entertainment Group Inc), Credit Agreement (Tweeter Home Entertainment Group Inc), Credit Agreement (Boston Celtics Limited Partnership Ii /De/)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable) and as an Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. Notwithstanding anything to the contrary in any Loan Document, no Person identified as a syndication agent, documentation agent, senior manager, joint lead arranger or joint book running manager, in such Person’s capacity as such, shall have any obligations or duties to any Loan Party, the Administrative Agent or any other Secured Party under any of such Loan Documents.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Digital Realty Trust, Inc.), Revolving Credit Agreement (Digital Realty Trust, Inc.)

Authorization and Action. Each Lender, each Fronting Bank and each Swing Line Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all Fronting Banks; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender and each Fronting Bank prompt notice of each notice given to it by any Borrower the Borrowers pursuant to the terms of this AgreementAgreement and to promptly forward to each Lender, each Fronting Bank and each Swing Line Lender the financial statements and any other certificates or statements delivered to the Administrative Agent pursuant to Section 5.01(g).

Appears in 2 contracts

Sources: Credit Agreement, Credit Agreement (FirstEnergy Solutions Corp.)

Authorization and Action. Each Lender hereby irrevocably appoints and authorizes the Administrative Agent to take such action as agent act on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are specifically delegated to or required of the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to The Agent may perform any matters expressly provided for of its duties hereunder by or through its agents and employees. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship in respect of any Lender; and nothing in this Agreement as being subject to the discretion of the Administrative Agentor any other Loan Document, such matters expressed or implied, is intended to, or shall be subject to so construed as to, impose upon the sole discretion Agent any obligations in respect of the Administrative Agent, its directors, officers, agents and employeesthis Agreement or any other Loan Document except as expressly set forth herein or therein. As to any matters not expressly provided for by this Agreement Agreement, the Notes or the other Loan Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon the Lenders and all Lendersholders of Notes and the Obligations; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementapplicable law.

Appears in 2 contracts

Sources: Senior Secured Facility Agreement (Axia Inc), Credit Agreement (Texas Petrochemical Holdings Inc)

Authorization and Action. Each Lender of the Lenders hereby appoints CNA as agent for purposes of the Transaction Documents and authorizes the Administrative Agent CNA, in such capacity, to take such action as agent on its behalf under each Transaction Document and to exercise such powers powers, hereunder and discretion under this Agreement thereunder as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to thereto and CNA shall not have any matters duties or responsibilities except as expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents set forth herein and employeestherein. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of in the outstanding Borrowings)Transaction Documents, the Administrative Agent shall not be required to exercise any discretion or and/or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, provided that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any or on behalf of the Borrower and a copy of each document, instrument, certificate or report received from the Borrower or a third party acting on behalf of the Borrower, in each case, pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement, Credit Agreement (Genesis Lease LTD)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement of the terms of this Agreement or collection of the outstanding Borrowingsprincipal of, and interest on the Advances, fees and any other amounts due and payable pursuant to this Agreement), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of Banks owed more than 50% of the Required Lendersprincipal amount of the Advances then outstanding or, if no Advances are then outstanding, Banks having more than 50% of the Commitments, and such instructions shall be binding upon all LendersBanks; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to any Note, this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Bank prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Williams Companies Inc), Credit Agreement (Williams Companies Inc)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Letter of Credit Documents (including, without limitation, including enforcement or of and collection under any Letter of the outstanding BorrowingsCredit Document), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersBanks, and such instructions shall be binding upon all LendersBanks and all holders of DSR Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement any Letter of Credit Document or Applicable Law. The Administrative In performing its function and duties hereunder, the Agent agrees shall act solely as the agent of the Banks and does not assume and shall not be deemed to give have assumed any obligation towards or relationship of agency or trust with or for the Borrower or any other party to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this AgreementOperative Document.

Appears in 2 contracts

Sources: Debt Service Reserve Letter of Credit and Reimbursement Agreement (Eme Homer City Generation Lp), Debt Service Reserve Letter of Credit and Reimbursement Agreement (Eme Homer City Generation Lp)

Authorization and Action. Each Lender Party (in its capacities as a Lender and the Issuing Bank (if applicable)) hereby appoints and authorizes each of the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent and the Collateral Agent, as the case may be, by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), each of the Administrative Agent and the Collateral Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that neither the Administrative Agent nor the Collateral Agent shall not be required to take any action that which exposes the Administrative Agent or the Collateral Agent, as the case may be, to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Each of the Administrative Agent and the Collateral Agent agrees to give to each Lender Party prompt notice of each notice and other report given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Andrews Group Inc /De/), Revolving Credit Agreement (Andrews Group Inc /De/)

Authorization and Action. Each Lender Bank hereby appoints and authorizes Agent to execute the Administrative Agent Collateral Documents on behalf of each such Bank and to take such action as agent Agent on its behalf such Bank's behalf, and to exercise such powers and discretion under this Agreement the Loan Documents, as are delegated to the Administrative Agent by the terms hereofthereof, together with such other powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to , including, without limitation, the discretion enforcement of the Administrative AgentLoan Documents in accordance with the terms thereof (including, such matters shall be subject to without limitation, the sole discretion collection of the Administrative AgentNotes), its directors, officers, agents and employeesAgent hereby accepts such appointment. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, Banks and such instructions shall be binding upon all LendersBanks; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to any of the Loan Documents or applicable law. Agent shall not consent to any amendment of this Agreement or Applicable Law. The Administrative Agent agrees any of the other Loan Documents (and no amendment by Banks shall be effective without consent of Agent), the effect of which would be to give to each Lender prompt notice increase the amount of each notice given to it by the Obligations or extend the maturity of any obligation, reduce the bases on which any interest is computed, release any Collateral, waive any provision regarding covenants or obligations of Borrower pursuant to or the terms Owners or Events of this AgreementDefault, without the express written consent of all Banks.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Gulf Island Fabrication Inc), Revolving Credit Agreement (Gulf Island Fabrication Inc)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), the Issuing Bank (if applicable) and a potential Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any either Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Accuride Corp), Credit Agreement (Accuride Corp)

Authorization and Action. (a) Each Lender hereby appoints and authorizes each of the Administrative Agent and the Collateral Agent (collectively the "RELEVANT AGENTS") to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the Pledge Agreement, as the case may be, as are delegated to the Administrative such Relevant Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. . (b) As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsFloating Rate Notes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Company pursuant to the terms of this AgreementAgreement and notice of any Event of Default of which it has actual knowledge within 30 days of acquiring such knowledge.

Appears in 2 contracts

Sources: Loan Agreement (Mastellone Brothers Inc), Loan Agreement (Leitesol Industry & Commerce Inc.)

Authorization and Action. Each Lender hereby appoints and authorizes each of the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent and the Collateral Agent, as the case may be, by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), each of the Administrative Agent and the Collateral Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that neither the Administrative Agent nor the Collateral Agent shall not be required to take any action that which exposes the Administrative Agent or the Collateral Agent, as the case may be, to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Each of the Administrative Agent and the Collateral Agent agrees to give to each Lender prompt notice of each notice and other report given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Andrews Group Inc /De/), Revolving Credit Agreement (Andrews Group Inc /De/)

Authorization and Action. Each Lender hereby appoints the Administrative Agent to act as its agent in connection herewith and the other Loan Documents and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such rights, powers and discretion discretions under this Agreement and the other Loan Documents as are specifically delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such rights, powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Loan Documents, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, provided that the Administrative -------- Agent shall not be required to take any action action: (a) that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The applicable law; or (b) until the Administrative Agent agrees to give to each Lender prompt notice of each notice given to it is fully indemnified by any Borrower pursuant the Lenders for such action, in form and substance satisfactory to the terms of this AgreementAdministrative Agent; or (c) until the Administrative Agent first receives instructions to take such action from the Required Lenders.

Appears in 2 contracts

Sources: Loan Agreement (Omnipoint Corp \De\), Loan Agreement (Omnipoint Corp \De\)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent contractual representative on its such Lender’s behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are specifically delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for Not in this Agreement as being subject to the discretion limitation of the Administrative Agentforegoing, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents each Lender authorizes and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes directs the Administrative Agent to personal liability or that is contrary to enter into the Loan Documents for the benefit of the Lenders. Each Lender hereby agrees that, except as otherwise set forth herein, any action taken by the Requisite Lenders in accordance with the provisions of this Agreement or Applicable Lawthe Loan Documents, and the exercise by the Requisite Lenders of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders. The Nothing herein shall be construed to deem the Administrative Agent agrees a trustee or fiduciary for any Lender or to give to each Lender prompt notice impose on the Administrative Agent duties or obligations other than those expressly provided for herein. Without limiting the generality of each notice given to it by any Borrower pursuant to the foregoing, the use of the terms of this Agreement.“Administrative Agent”, “

Appears in 2 contracts

Sources: Credit Agreement (CubeSmart, L.P.), Credit Agreement (U-Store-It Trust)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the Notes as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement or the Notes as being subject to the discretion of the Administrative any Agent, such matters shall be subject to the sole discretion of the Administrative such Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement or the Notes (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender and each other Agent prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (New England Electric System), Credit Agreement (New England Electric System)

Authorization and Action. Each Lender hereby appoints ------------------------ and authorizes the Administrative Agent to take such action as agent Administrative Agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required -------- ------- to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Sprint Corp), 364 Day Credit Agreement (Sprint Corp)

Authorization and Action. Each Lender hereby appoints and authorizes CUSA to act as the Administrative Agent under this Agreement and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances and other amounts owing hereunder), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any of the Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementthe Loan Documents.

Appears in 2 contracts

Sources: Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc)

Authorization and Action. Each Lender (in its capacity as a Lender and, if applicable, the Issuing Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and the other Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders, the Issuing Bank and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender and the Issuing Bank prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Maxtor Corp), Credit Agreement (Maxtor Corp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), the Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Stage Stores Inc), Credit Agreement (Servico Market Center Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Collateral Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Collateral Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement Except as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly specifically provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Loan Documents, the Administrative Collateral Agent shall not be required to exercise any discretion or take any actionaction under any of the Loan Documents, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and the Collateral Agent shall not be liable to the Borrower or any Lender for any action taken or omitted at the direction of the Required Lenders; provided, however, that the Administrative Collateral Agent shall not be required to take any action that exposes the Administrative Agent Collateral Agent, in its sole judgment, to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Collateral Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Senior Secured Loan Agreement (Ugly Duckling Corp), Senior Secured Loan Agreement (Ugly Duckling Corp)

Authorization and Action. Each Lender hereby appoints and authorizes the CUSA to act as Administrative Agent under this Agreement, Wachovia to act as Documentation Agent under this Agreement and B of A to act as Syndication Agent under this Agreement and authorizes each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative each Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances and other amounts owing hereunder), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative no Agent shall not be required to take any action that which exposes the Administrative such Agent to personal liability or that which is contrary to this Agreement any of the Loan Documents or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreementthe Loan Documents.

Appears in 2 contracts

Sources: Credit Agreement (Dial Corp /New/), Credit Agreement (Dial Corp /New/)

Authorization and Action. Each Lender (in its capacity as a Lender) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement of the Obligations or collection of the outstanding BorrowingsObligations owing under the Loan Documents), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Without limiting the generality of the foregoing, each Lender hereby authorizes and instructs the Administrative Agent agrees to give enter into the documents to each Lender prompt notice of each notice given to it be entered into by any Borrower pursuant to the terms of this AgreementAdministrative Agent expressly mentioned in Section 3.01.

Appears in 2 contracts

Sources: Credit Agreement (Kosmos Energy Ltd.), Senior Secured Term Loan Credit Agreement (U.S. Well Services, Inc.)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances and other amounts owing hereunder), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. The Lenders identified on the cover page of this Agreement as co-syndication agents shall not have any powers, duties, responsibilities or liabilities under this Agreement other than those applicable to all Lenders as such, and none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender.

Appears in 2 contracts

Sources: Credit Agreement (Computer Sciences Corp), Credit Agreement (Computer Sciences Corp)

Authorization and Action. (a) Each Lender (in its capacities as a Lender) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. (b) Any Agent may execute any of its duties under this Agreement or any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. No Agent shall be responsible for the negligence or misconduct of any agent or attorney-in-fact that it selects in accordance with the foregoing provisions of this Section 7.01(b) in the absence of such Agent’s gross negligence or willful misconduct.

Appears in 2 contracts

Sources: Credit Agreement (Madison River Communications Corp.), Credit Agreement (Madison River Communications Corp)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this AgreementAgreement and to promptly forward to each Lender the financial statements delivered to the Administrative Agent pursuant to Section 5.01(g).

Appears in 2 contracts

Sources: Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Jersey Central Power & Light Co)

Authorization and Action. Each Lender Party (in its capacities as a Lender, each Issuing Bank, the Swing Line Bank and any Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, any other Loan Document or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. The Administrative Agent shall not be a trustee or fiduciary for any Lender.

Appears in 2 contracts

Sources: Credit Agreement (Inphynet South Broward Inc), Credit Agreement (Team Health Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, including enforcement of this Agreement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Borrowers pursuant to the terms of this Agreement. Nothing in this Agreement shall impose upon any Co-Syndication Agent or Co-Documentation Agent, in its capacity as such, any duty or liability whatsoever.

Appears in 2 contracts

Sources: Canadian Credit Agreement (Burlington Resources Inc), Canadian Credit Agreement (Burlington Resources Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent Administrative Agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Papers as are delegated to the Administrative Agent by the terms hereofof the Loan Papers, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and the other Loan Papers (including, including without limitation, limitation enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders (or all Lenders, if required under Section 10.01), and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Loan Papers or Applicable applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement, and to distribute to each applicable Lender in like funds all amounts delivered to Administrative Agent by the Borrower for the Ratable or individual account of any Lender.

Appears in 2 contracts

Sources: Credit Agreement (Gci Inc), Credit Agreement (General Communication Inc)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Agreement, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, Majority Banks and such instructions shall be binding upon all Lenders; provided, however, that the Banks and all holders of Notes. The Administrative Agent shall not be required to take any action that which exposes the Administrative Agent it to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees shall be permitted from time to give time to each Lender prompt notice designate one of each notice given its Affiliates to it perform the duties to be performed by any Borrower pursuant the Administrative Agent hereunder with respect to the terms Advances and Borrowings denominated in Agreed Currencies other than Dollars. The provisions of this AgreementArticle X shall apply to any such Affiliate mutatis mutandis.

Appears in 2 contracts

Sources: Credit Agreement (Baxter International Inc), Credit Agreement (Baxter International Inc)

Authorization and Action. Each Lender hereby (i) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for thereto and (ii) agrees that the Arranger, in this Agreement its capacity as being subject to the discretion of the Administrative Agentsuch, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employeeshave no duties or obligations hereunder. As to any matters not expressly provided for by this Agreement any Loan Document (including, without limitation, enforcement or collection of the outstanding Borrowingsthereof), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give deliver promptly to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Term Credit Agreement (Northeast Utilities System), Term Credit Agreement (Northeast Utilities System)

Authorization and Action. Each Lender hereby appoints and ------------------------ authorizes the Administrative Funding Agent and the Co-Syndication Agents to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Funding Agent and the Co-Syndication Agents by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Funding Agent and the Co-Syndication Agents shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that neither the Administrative Funding Agent nor any Co-Syndication Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Funding Agent agrees and each Co-Syndication Agent agree to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Amvescap PLC/London/), Credit Agreement (Amvescap PLC/London/)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), and the Issuing Bank (if applicable)) hereby appoints and authorizes each Agent to enter into such of the Administrative Agent Loan Documents to which it is a party and to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Revolving Credit Agreement (BMCA Acquisition Sub Inc.), Revolving Credit Agreement (Building Materials Manufacturing Corp)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Credit Documents (including, without limitation, including enforcement of and collection under any Credit Document or collection of the outstanding Borrowingsother Project Agreement), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersBanks, and such instructions shall be binding upon all LendersBanks and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this any Credit Document or other Project Agreement or Applicable Lawapplicable law. The Administrative In performing its function and duties hereunder, the Agent agrees shall act solely as the agent of the Banks and does not assume and shall not be deemed to give have assumed any obligation towards or relationship of agency or trust with or for the Borrower or any other party to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Project Agreement.

Appears in 2 contracts

Sources: Letter of Credit and Reimbursement Agreement (Indiantown Cogeneration Lp), Revolving Credit Agreement (Indiantown Cogeneration Lp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), an Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative Lead Arranger and each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Lead Arranger and such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), no Agent nor the Administrative Agent Lead Arranger shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that no Agent nor the Administrative Agent Lead Arranger shall not be required to take any action that exposes such Agent nor the Administrative Agent Lead Arranger to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement the Credit Documents as are delegated to the Administrative Agent Agent, by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Credit Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, provided that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Credit Document or Applicable Lawapplicable law and shall not be required to initiate or conduct any litigation or other proceedings. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Pride International Inc)

Authorization and Action. Each Lender, each Swing Line Lender and each Issuing Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (the Loan Documents, including, without limitation, enforcement or collection of the outstanding Borrowings)Notes, the Administrative Agent shall not be required to exercise any discretion or take any action, but and shall not be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) except upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders, all Swing Line Lenders and all Issuing Banks and all holders of the Notes; provided, however, provided that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Imation Corp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, Swing Line Lender (if applicable), Issuing Bank (if applicable) and on behalf of itself and its Affiliates as potential Hedge Banks) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Domestic Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Tanner Chemicals Inc)

Authorization and Action. Each Lender and Issuing Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes or CAF Notes, if any), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes or CAF Notes (if any); provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.. CERC 5-YEAR REVOLVING CREDIT AGREEMENT

Appears in 1 contract

Sources: Credit Agreement (Centerpoint Energy Houston Electric LLC)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Agreement, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, provided that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by or on behalf of any Borrower or the Guarantor pursuant to the terms of this Agreement. Fleet Securities, Inc., as Arranger, in its capacity as such, shall have no duties, responsibilities or liabilities whatsoever under this Agreement.

Appears in 1 contract

Sources: Revolving Credit Agreement (FMR Corp)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereoftheir respective terms, together with such powers and discretion as are reasonably incidental theretothereto and further authorizes the Agent to execute that certain Letter Amendment No. As 1 to any matters expressly provided for in this Agreement Completion Guarantee and that certain Letter Amendment No. 1 to Equity Contribution Agreement, each to be dated as being subject to the discretion of the Administrative date hereof and each among the Borrower, Southern and the Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement or any other Loan Document (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, provided that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, the other Loan Documents or Applicable applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower Loan Party pursuant to the terms of this Agreementthe relevant Loan Document.

Appears in 1 contract

Sources: Credit Agreement (Southern Power Co)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the Notes as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but the Agent shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law or unless it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking such action. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Senior Subordinated Credit Agreement (East Coast Power LLC)

Authorization and Action. Each Lender hereby appoints and authorizes the CUSA to act as Administrative Agent under this Agreement, Wachovia act as Documentation Agent under this Agreement and B of A to act as Syndication Agent under this Agreement and authorizes each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative each Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances and other amounts owing hereunder), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative no Agent shall not be required to take any action that which exposes the Administrative such Agent to personal liability or that which is contrary to this Agreement any of the Loan Documents or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreementthe Loan Documents.

Appears in 1 contract

Sources: Credit Agreement (Dial Corp /New/)

Authorization and Action. Each Lender Party hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As , including, without limitation, to any matters expressly provided for in this Agreement as being subject to the discretion execute and enter into on behalf of the Administrative Agent, Lender Parties the Intercreditor Agreement and the Collateral Documents (and each Lender Party hereby agrees to be bound by the terms of such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents Intercreditor Agreement and employeesCollateral Documents). As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes, if any), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersLenders or such other number of Lender Parties as may be expressly required by any Loan Document, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes, if any; provided, -------- however, that the Administrative Agent shall not be required to take any action ------- that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower a Loan Party pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Panolam Industries Inc)

Authorization and Action. Each Lender Holder hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Note Documents to which it is a party, as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly NOTE AND GUARANTEE AGREEMENT -80- provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Note Documents, the Administrative Agent shall not be required to exercise any discretion or take any action, but and shall not be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) except upon the instructions of the Required LendersHolders, and such instructions shall be binding upon all LendersHolders; provided, however, PROVIDED that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement any of the Note Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender the Holders prompt notice of each notice given to it by any Borrower Obligor pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Note and Guarantee Agreement (Metromedia Fiber Network Inc)

Authorization and Action. Each Lender (in its capacities as a Lender and Issuing Bank, as applicable) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, including without limitation, enforcement or collection of the outstanding Borrowingsany Notes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, Majority Lenders or as otherwise required by Section 8.1(b) and such instructions shall be binding upon all LendersLenders and all holders of interests in Advances; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Borrowers pursuant to the terms of this Agreement. The Agent further agrees to make a request pursuant to Section 4.1(a)(8) at the request of any Lender, and to share such requested information with the Lenders.

Appears in 1 contract

Sources: Credit Agreement (Boeing Co)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersBanks, and such instructions shall be binding upon all LendersBanks and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice and other report given to it by any the Borrower pursuant to the terms of this Agreement. The duties of the Administrative Agent shall be mechanical and administrative in nature, and the Administrative Agent shall not have by reason of this Agreement or other Loan Document a fiduciary relationship in respect of any Lender.

Appears in 1 contract

Sources: Credit Agreement (Loews Cineplex Entertainment Corp)

Authorization and Action. (a) Each Lender (in its capacities as a Lender) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsLoans), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Borrowers pursuant to the terms of this Agreement. (b) Any Agent may execute any of its duties under this Agreement or any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties.

Appears in 1 contract

Sources: Senior Subordinated Term Loan Agreement (Sensata Technologies B.V.)

Authorization and Action. Each Lender hereby appoints Administrative Agent as administrative, collateral, and managing agent under the Credit Documents and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement perform such duties as are expressly delegated to the Administrative Agent by the terms hereofof the Credit Documents, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters matter not expressly provided for by this Agreement agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such those instructions shall be binding upon all Lenders; providedLenders and all holders of the Notes. However, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement agreement or Applicable Lawapplicable Governmental Requirements. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower Parent or Co-Borrowers pursuant to the terms of this Agreementthe Credit Documents. Administrative Agent also agrees to promptly distribute to each Lender copies of the items required to be delivered to Administrative Agent under Section 7.1.

Appears in 1 contract

Sources: Credit Agreement (American Business Financial Services Inc /De/)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Issuing Bank, the Swing Line Bank and any Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability 103 96 or that is contrary to this Agreement Agreement, any other Loan Document or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement. The Administrative Agent shall not be a trustee or fiduciary for any Lender.

Appears in 1 contract

Sources: Credit Agreement (Private Business Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Loan Parties pursuant to the terms of this Agreement.Agreement and to promptly forward to each Lender the financial statements and any other certificates or statements delivered to the Administrative Agent pursuant to Section 5.01(g). (NY) 08014/507/FIRSTENERGY/CA.doc

Appears in 1 contract

Sources: Credit Agreement (Toledo Edison Co)

Authorization and Action. (a) Each Lender hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsObligations of the Loan Parties), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. (b) Any Agent may execute any of its duties under this Agreement or any other Loan Document by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel and other consultants or experts concerning all matters pertaining to such duties. The Administrative No Agent agrees to give to each Lender prompt notice shall be responsible for the negligence or misconduct of each notice given to any agent or attorney-in-fact that it by any Borrower pursuant to selects in accordance with the terms foregoing provisions of this AgreementSection 9.01(b) in the absence of such Agent’s gross negligence or willful misconduct.

Appears in 1 contract

Sources: Credit Agreement (Navistar International Corp)

Authorization and Action. Each Lender Conduit and each Bank hereby appoints and authorizes the Administrative Program Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Transaction Documents as are delegated to the Administrative Program Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As The Program Agent reserves the right, in its sole discretion (subject to Section 11.01), to agree to any matters expressly provided for in amendment, modification or waiver of the provisions of this Agreement as being subject or any instrument or document delivered pursuant hereto, and also to exercise any rights and remedies available under this Agreement and the discretion of the Administrative Agent, such matters shall be subject other Transaction Documents or pursuant to the sole discretion of the Administrative Agent, its directors, officers, agents and employeesapplicable law. As to any matters not expressly provided for by this Agreement or the other Transaction Documents (including, without limitation, enforcement of this Agreement or collection of the outstanding Borrowingsother Transaction Documents), the Administrative Program Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, Banks and such instructions shall be binding upon all LendersCo-Acquirers; provided, however, that the Administrative Program Agent shall not be required to take any action that which exposes the Administrative Program Agent to personal liability or that which is contrary to this Agreement Agreement, the other Transaction Documents or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementapplicable law.

Appears in 1 contract

Sources: Receivables Acquisition Agreement (NBCUniversal Media, LLC)

Authorization and Action. Each of the Lenders and the Issuing Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and under the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof or thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and in the other Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement Agreement, the other Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender and the Issuing Lender prompt notice of each notice given to it by PPG or any other Borrower pursuant to the terms of this AgreementAgreement or the other Loan Documents.

Appears in 1 contract

Sources: Credit Agreement (PPG Industries Inc)

Authorization and Action. Each Lender (including Swing Line Lender and Issuing Lender) hereby appoints and authorizes the Administrative Agent to take such action as agent Administrative Agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents, as are delegated to the Administrative Agent by the terms hereofof the Loan Documents, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement and the other Loan Documents (including, including without limitation, limitation enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lendersany Lender, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Loan Documents or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement, and to distribute to each applicable Lender in like funds all amounts delivered to Administrative Agent by Borrower for the Pro Rata or individual account of any Lender. Functions of the Administrative Agent are administerial in nature and in no event shall the Administrative Agent have a fiduciary or trustee relationship in respect of any Lender by reason of this agreement or any Loan Document.

Appears in 1 contract

Sources: Credit Agreement (Flanders Corp)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Swing Line Bank (if applicable), the Issuing Bank (if applicable)) hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative such Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative no Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; providedPROVIDED, howeverHOWEVER, that the Administrative no Agent shall not be required to take any action that exposes the Administrative such Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Each Agent agrees to give to each Lender Party prompt notice of each notice given to it by the Parent Guarantor or any Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Debtor in Possession Credit Agreement (Microage Inc /De/)

Authorization and Action. Each Lender hereby appoints and ------------------------ authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding BorrowingsAdvances), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative -------- ------- Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this AgreementAgreement unless the distribution of such notice is otherwise provided for herein.

Appears in 1 contract

Sources: Credit Agreement (Gap Inc)

Authorization and Action. (a) Each Lender Party hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Financing Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Financing Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender Party prompt notice (including matters disclosed in writing to the Administrative Agent as described in clause (b) of the definition of “Disclosed Matters”) of each notice given to it by the Borrower or any Borrower other Person pursuant to the terms of this AgreementAgreement or any other Financing Documents. (b) [Intentionally Omitted]

Appears in 1 contract

Sources: Amendment No. 3 (Aesc) (Allegheny Energy, Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Collateral Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Collateral Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement Except as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly specifically provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Loan Documents, the Administrative Collateral Agent shall not be required to exercise any discretion or take any actionaction under any of the Loan Documents, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders and the Collateral Agent shall not be liable to the Borrower or any Lender for any action taken or omitted at the direction of the Required Lenders; provided, however, that the Administrative Collateral Agent shall not be required to take any action that exposes the Administrative Agent Collateral Agent, in its sole judgment, to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Collateral Agent agrees to give to each Lender prompt notice of each written notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Senior Secured Loan Agreement (Drivetime Automotive Group Inc)

Authorization and Action. (a) Each Lender hereby appoints and authorizes the Administrative each Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative such Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative an Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that the Administrative an Agent shall not be required to take any action that which exposes the Administrative an Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Servicing Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement. (b) The provisions of this Article 10 are solely for the benefit of Lenders and Agents and Borrower has no rights as a third party beneficiary of any of the provisions hereof.

Appears in 1 contract

Sources: Loan and Security Agreement (Integrated Packaging Assembly Corp)

Authorization and Action. Each Lender hereby appoints the Agent as its Agent under, and irrevocably authorizes the Administrative Agent (subject to Section 7.11) to take such action as agent on its behalf and to exercise such powers and discretion under this any Financing Agreement as are delegated to the Administrative Agent by the terms hereofthereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion Without limitation of the Administrative Agentforegoing, such matters shall be subject each Lender expressly authorizes the Agent to the sole discretion execute, deliver, and perform its obligations under each of the Administrative AgentFinancing Agreements to which the Agent is a party, its directorsand to exercise all rights, officerspowers, agents and employeesremedies that the Agent may have thereunder. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)Agreement, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act act, or to refrain from acting (and shall be fully protected in so acting or refraining from acting) ), upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lendersthe Lenders and all holders of any Note; provided, provided however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this any Financing Agreement.

Appears in 1 contract

Sources: Credit Agreement (Sanfilippo John B & Son Inc)

Authorization and Action. Each Lender Bank hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereofhereof and of the other Credit Documents, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to Statements under the discretion Credit Documents that the Administrative Agent may take certain actions, without further qualification, means that the Administrative Agent may take such actions with or without the consent of the Administrative AgentBanks or the Majority Banks, such matters shall be subject to but where the sole discretion Credit Documents expressly require the determination of the Banks or the Majority Banks, the Administrative Agent, its directors, officers, agents and employeesAgent shall not take any such action without the prior written consent thereof. As to any matters not expressly provided for by this Agreement or any other Credit Document (including, without limitation, enforcement or collection of the outstanding BorrowingsRevolving Loan Notes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the written instructions of the Required LendersMajority Banks, and such instructions shall be binding upon all LendersBanks and all holders of Revolving Loan Notes; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement Agreement, any other Credit Document, or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementapplicable law.

Appears in 1 contract

Sources: Credit Agreement (Susser Holdings CORP)

Authorization and Action. Each Lender (in its capacity as a Lender, the Swing Line Bank (if applicable) and an Issuing Bank (if applicable)) hereby appoints and authorizes the Administrative Agent and the Co-Agents, respectively, to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent and the Co-Agents, respectively, by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), neither the Administrative Agent nor the Co-Agents shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, that neither the Administrative Agent nor the Co-Agents shall not be required to take any action that exposes the Administrative Agent any of them to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. The Each of the Administrative Agent and each Co-Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Imc Global Inc)

Authorization and Action. Each Lender hereby irrevocably appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement the Credit Documents as are delegated to the Administrative Agent Agent, by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Credit Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all LendersLenders and all holders of Notes; provided, however, provided that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement any Credit Document or Applicable Lawapplicable law and shall not be required to initiate or conduct any litigation or other proceedings. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower the Borrowers pursuant to the terms of this Agreement. The provisions of this Article VII are solely for the benefit of the Administrative Agent and the Lender Parties, and neither the Borrowers nor any other Credit Party shall have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Sources: Revolving Credit Agreement (Pride International Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes, the Advances and the Obligations), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law or regulations. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreement.. Notwithstanding anything to the contrary in any Loan Document, no Person identified as a syndication agent, joint lead arranger or joint bookrunner, in such Person’s capacity as such, shall have any obligations or duties to any Loan Party, the Administrative Agent or any other Secured Party under any of such Loan Documents. 103

Appears in 1 contract

Sources: Term Loan Agreement (Digital Realty Trust, L.P.)

Authorization and Action. Each Lender hereby irrevocably appoints and authorizes the Administrative Agent to take such action as agent act on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are specifically delegated to or required of the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to The Agent may perform any matters expressly provided for of its duties hereunder by or through its agents and employees. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of this Agreement or any other Loan Document a fiduciary relationship in respect of any Lender; and nothing in this Agreement as being subject to the discretion of the Administrative Agentor any other Loan Document, such matters expressed or implied, is intended to, or shall be subject to so construed as to, impose upon the sole discretion Agent any obligations in respect of the Administrative Agent, its directors, officers, agents and employeesthis Agreement or any other Loan Document except as expressly set forth herein or therein. As to any matters not expressly provided for by this Agreement Agreement, the Notes or the other Loan Documents (including, without limitation, including enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Requisite Lenders, and such instructions shall be binding upon the Lenders and all Lendersholders of Notes and the Obligations; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any Borrower pursuant to the terms of this Agreementapplicable law.

Appears in 1 contract

Sources: First Lien Credit Agreement (Cardtronics LP)

Authorization and Action. Each Lender (in its capacities as a Lender and on behalf of itself and its Affiliates as potential ▇▇▇▇▇ ▇▇▇▇▇) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes, the Advances and the Obligations), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent it to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law or regulations. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.​ ​

Appears in 1 contract

Sources: Term Loan Agreement (Digital Realty Trust, L.P.)

Authorization and Action. (a) Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding Borrowingsthereof), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement or Applicable Lawapplicable law. The Administrative Agent agrees to give deliver promptly to each Lender prompt notice of each notice given to it by any a Borrower pursuant to the terms of this Agreement. (b) Each Lender and the Borrowers hereby agree that the Co-Agents in their respective capacities as such shall have no duties or obligations under the Loan Documents.

Appears in 1 contract

Sources: Credit Agreement (Northeast Utilities System)

Authorization and Action. Each The Lender and each of the Secondary Lenders hereby irrevocably appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Program Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings)other Program Documents, the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be binding upon all Lender or the Secondary Lenders; providedPROVIDED, howeverHOWEVER, that the Administrative Agent shall not be required to take any action that which exposes the Administrative Agent to personal liability or that which is contrary to this Agreement Agreement, the other Program Documents or Applicable Law. The Administrative Agent Lender and each Secondary Lender agrees that in any instance in which the Program Documents provide that the Agent's consent may not be unreasonably withheld, provide for the exercise of the Agent's reasonable discretion, or provide to give to each Lender prompt notice of each notice given to a similar effect, it by any Borrower pursuant shall not in its instructions to the terms of this AgreementAgent withhold its consent or exercise its discretion in an unreasonable manner.

Appears in 1 contract

Sources: Revolving Credit and Security Agreement (Managed High Yield Plus Fund Inc)

Authorization and Action. Each Lender hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement as are delegated to the Administrative Agent by the terms hereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement (including, without limitation, enforcement or collection of the outstanding Borrowings), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Majority Lenders, and such instructions shall be binding upon all Lenders; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender prompt notice of each notice given to it by any the Borrower pursuant to the terms of this AgreementAgreement and to promptly forward to each Lender the financial statements and any other certificates or statements delivered to the Administrative Agent pursuant to Section 5.01(g).

Appears in 1 contract

Sources: Term Loan Credit Agreement (FirstEnergy Solutions Corp.)

Authorization and Action. Each Lender Party (in its capacities as a Lender, the Issuing Bank (if applicable) and a potential Hedge Bank) hereby appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms hereofhereof and thereof, together with such powers and discretion as are reasonably incidental thereto. As to any matters expressly provided for in this Agreement as being subject to the discretion of the Administrative Agent, such matters shall be subject to the sole discretion of the Administrative Agent, its directors, officers, agents and employees. As to any matters not expressly provided for by this Agreement the Loan Documents (including, without limitation, enforcement or collection of the outstanding BorrowingsNotes), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required LendersLenders or such other Lenders as required by Section 8.01, and such instructions shall be binding upon all LendersLender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this Agreement or Applicable Lawapplicable law. To the extent permitted in the Security Agreement and the Mortgages, the Administrative Agent may release any assets permitted to be sold, leased, transferred or otherwise disposed of pursuant to the terms hereof. The Administrative Agent agrees to give to each Lender Party prompt notice of each notice given to it by any the Borrower pursuant to the terms of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Shoneys Inc)