Common use of Authorization and Authority Clause in Contracts

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall not have rights as a third party beneficiary of any of such provisions.

Appears in 4 contracts

Samples: Day Credit Agreement (United Parcel Service Inc), Day Credit Agreement (United Parcel Service Inc), Day Credit Agreement (United Parcel Service Inc)

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Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Administrative Agent and as the Calculation Agent hereunder and under its Note, if any, the other Loan Documents and authorizes the each Agent to take such actions on its behalf and to exercise such powers as are delegated to the such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent Agents and the Lenders, and the Borrower shall not have rights as a third party beneficiary or otherwise of any of such provisions.

Appears in 3 contracts

Samples: Margin Loan Agreement (Gazit-Globe LTD), Margin Loan Agreement (Gazit-Globe LTD), Margin Loan Agreement (Gazit-Globe LTD)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, the Notes and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall not have no rights as a third party beneficiary of any of such provisions.

Appears in 3 contracts

Samples: Credit Agreement (Embarq CORP), 364 Day Credit Agreement (At&t Inc.), Year Credit Agreement (At&t Inc.)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Agent hereunder and under its Note, if any, the Notes and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.068.06, the provisions of this Article are solely for the benefit of the Agent and the Lenders, and neither the Borrower Company nor any Designated Subsidiary shall not have rights as a third party beneficiary of any of such provisions.

Appears in 3 contracts

Samples: Year Credit Agreement (Interpublic Group of Companies, Inc.), Credit Agreement (Interpublic Group of Companies, Inc.), Credit Agreement (Interpublic Group of Companies, Inc.)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, the other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and neither the Borrower nor any other Loan Party shall not have rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Credit Agreement (Hill-Rom Holdings, Inc.), Credit Agreement (Hillenbrand, Inc.)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Administrative Agent hereunder and under its Note, if any, the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article Section 10 are solely for the benefit of the Administrative Agent and the Lenders, and neither the Borrower nor any other Credit Party shall not have rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Credit Agreement and Guaranty (Hospira Inc), Credit Agreement and Guaranty (Hospira Inc)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Administrative Agent hereunder and under its Note, if any, and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and and, except with respect to the provisions of Section 8.06 requiring consent of or consultation with the Company, neither the Company nor any other Borrower shall not have rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Year Credit Agreement (Black & Decker Corp), Credit Agreement (Black & Decker Corp)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the Borrower shall not have no rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Credit Agreement (At&t Inc.), Credit Agreement (Computer Sciences Corp)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, the Notes and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the neither any Borrower nor any Fund Manager shall not have rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Day Credit Agreement (Huntington Funds), Day Credit Agreement (Huntington Funds)

Authorization and Authority. Each Lender of the Lenders hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Agent hereunder and under its Note, if any, any Notes and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article (other than Section 8.06 to the extent therein provided) are solely for the benefit of the Agent and the Lenders, and neither the Company nor any other Borrower shall not have rights as a third party beneficiary of any of such provisions.

Appears in 2 contracts

Samples: Credit Agreement (Hershey Co), Day Credit Agreement (Hershey Co)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Administrative Agent and the Collateral Agent hereunder and under its Note, if any, the other Loan Documents and authorizes the each Agent to take such actions on its behalf and to exercise such powers as are delegated to the such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent Agents and the Lenders, and the Borrower shall not have rights as a third party beneficiary or otherwise of any of such provisions.

Appears in 2 contracts

Samples: Margin Loan Agreement (Focus Media Holding LTD), Margin Loan Agreement (Focus Media Holding LTD)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. N.A., to act on its behalf as Administrative Agent and as Calculation Agent under the Agent hereunder and under its Note, if any, Margin Loan Documentation and authorizes the each Agent to take such actions on its such Lender’s behalf and to exercise such powers as are delegated to the such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article 8 are solely for the benefit of the Agent Agents and the Lenders, and the Borrower shall not have rights as a third third-party beneficiary beneficiaries or otherwise of any of such provisions.

Appears in 1 contract

Samples: Margin Loan Agreement (KKR Fund Holdings L.P.)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and the no Borrower shall not have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Five Year Credit Agreement (Honeywell International Inc)

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Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. N.A., to act on its behalf as Administrative Agent and as Calculation Agent under the Agent hereunder and under its Note, if any, Margin Loan Documentation and authorizes the each Agent to take such actions on its such Lender’s behalf and to exercise such powers as are delegated to the such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article ARTICLE 8 are solely for the benefit of the Agent Agents and the Lenders, and the Borrower no Loan Party shall not have rights as a third third-party beneficiary beneficiaries or otherwise of any of such provisions.

Appears in 1 contract

Samples: Margin Loan Agreement (Blackstone Holdings III L.P.)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article VIII are solely for the benefit of the Agent and the Lenders, and neither the Borrower Guarantor nor any other Loan Party shall not have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Year Credit Agreement (Omnicom Group Inc)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Agent hereunder and under its Note, if any, the Notes and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and neither the Borrower Company nor any other Loan Party shall not have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Credit Agreement (Cooper Industries PLC)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Administrative Agent hereunder and under its Note, if any, the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06Other than Sections 10.6 and 10.10, the provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have no rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Credit Agreement (Aon Corp)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. Citibank to act on its behalf as the Administrative Agent hereunder and under its Note, if any, the Notes and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereofhereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have no rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Term Loan Agreement (Alliance Resource Partners Lp)

Authorization and Authority. Each Lender hereby irrevocably appoints Citibank, N.A. to act on its behalf as the Agent hereunder and under its Note, if any, and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article are solely for the benefit of the Agent and the Lenders, and none of the Borrower Borrowers shall not have rights as a third party beneficiary of any of such provisions.

Appears in 1 contract

Samples: Five Year Credit Agreement (Jabil Circuit Inc)

Authorization and Authority. (a) Each Lender hereby irrevocably appoints Citibank, N.A. N.A., to act on its behalf as Administrative Agent and as Calculation Agent under the Agent hereunder and under its Note, if any, Margin Loan Documentation and authorizes the each Agent to take such actions on its such Lender’s behalf and to exercise such powers as are delegated to the such Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. Except as otherwise provided in Section 7.06, the The provisions of this Article 9 are solely for the benefit of the Agent Agents and the Lenders, and the Borrower shall not have rights as a third third-party beneficiary or otherwise of any of such provisions.

Appears in 1 contract

Samples: Margin Loan Agreement (Starwood Capital Group Global Ii, L.P.)

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