Common use of Beneficiaries Clause in Contracts

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 28 contracts

Samples: Credit Agreement (Ii-Vi Inc), Joinder and Assumption Agreement (Ii-Vi Inc), Credit Agreement (Federated Investors Inc /Pa/)

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Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 7 contracts

Samples: Credit Agreement (Party City Corp), Guaranty and Suretyship Agreement (Option Care Inc/De), Pledge Agreement (Internet Capital Group Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 5 contracts

Samples: Credit Agreement (Rhino Resource Partners LP), Credit Agreement (Rhino Resource Partners, L.P.), Credit Agreement (Penn Virginia Resource Partners L P)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 [The Agent] are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 5 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 (The Agent) are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.. 10. MISCELLANEOUS 10.1

Appears in 3 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Administrative Agent and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Administrative Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 3 contracts

Samples: Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Inc), Credit Agreement (Koppers Holdings Inc.)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 3 contracts

Samples: Credit Agreement (Penn Virginia Resource Partners L P), Credit Agreement (Penn Virginia Resource Partners L P), Credit Agreement (Penn Virginia Resource Partners L P)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 Article 9 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 3 contracts

Samples: Credit Agreement (Champion Enterprises Inc), Credit Agreement (Cuno Inc), Credit Agreement (Champion Enterprises Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties Borrower shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan PartiesBorrower.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 [The Agent] are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties Borrower shall not have any rights to rely on or enforce any of the provisions hereofof this Section 10 [The Agent]. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan PartiesBorrower.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Assignment and Assumption Agreement (New Jersey Resources Corp)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Exhibit 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 2 contracts

Samples: Credit Agreement (Elgin National Industries Inc), Credit Agreement (Freemarkets Inc)

Beneficiaries. Except as expressly provided hereinherein or as required by applicable law, the provisions of this Section 10 9 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 2 contracts

Samples: Credit Agreement (Interface Security Systems, L.L.C.), Credit Agreement (Interface Security Systems Holdings Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 2 contracts

Samples: Credit Agreement (Zaring National Corp), Credit Agreement (Suburban Lodges of America Inc)

Beneficiaries. Except as expressly provided hereinherein or as required by applicable law, the provisions of this Section 10 9 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Integrated Alarm Services Group Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Administrative Agent, each Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Administrative Agent and each Agent shall act solely as agent the Administrative Agent or Agent, as the case may be, of the Banks and does do not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Internet Capital Group Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 10.18 are solely for the benefit of the Administrative Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. 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 toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (KPMG Consulting Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 [The Agent] are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties. 10.

Appears in 1 contract

Samples: Credit Agreement (Viasys Healthcare Inc)

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Beneficiaries. Except for Sections 10.5 and 10.15 and as otherwise expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties Borrower shall not have any rights to rely on or enforce any of the provisions hereofof this Section 10. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan PartiesBorrower.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

Beneficiaries. Except as expressly to the extent provided hereinin Sections 10.5, 10.14, 10.15 and 10.18, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume assume, and shall not be deemed to have assumed assumed, any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Chase Industries Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereofhereof (except for the right to grant or withhold consent described in Section 10.14). In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Phymatrix Corp)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be -107- 117 deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Commercial Intertech Corp)

Beneficiaries. Except as expressly provided hereinset forth in Sections 105, 1015 and 1016, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Borrower or any other Loan Parties Party shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for the Borrower or any of the other Loan PartiesParty.

Appears in 1 contract

Samples: Credit Agreement (Federated Investors Inc /Pa/)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 [The Agent] are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.. 10. MISCELLANEOUS 10.1

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 9 are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent the Agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Mountain Coal Co LLC)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.. -70- 77

Appears in 1 contract

Samples: Credit Agreement (Zaring National Corp)

Beneficiaries. Except as expressly provided herein, the provisions of this Section Article 10 are solely for the benefit of the Agent and the Banks, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.. -82- 11. MISCELLANEOUS -------------

Appears in 1 contract

Samples: Credit Agreement (Suburban Lodges of America Inc)

Beneficiaries. Except as expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent Administrative Agent, the other Managing Agents and the BanksLenders, and the Loan Parties shall not have any rights to rely on or enforce any of the provisions hereof. In performing its functions and duties under this Agreement, the Administrative Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan Parties.

Appears in 1 contract

Samples: Credit Agreement (Rent Way Inc)

Beneficiaries. Except as otherwise expressly provided herein, the provisions of this Section 10 are solely for the benefit of the Agent and the BanksLenders, and the Loan Parties Borrower shall not have any rights to rely on or enforce any of the provisions hereofof this Section 10. In performing its functions and duties under this Agreement, the Agent shall act solely as agent of the Banks Lenders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any of the Loan PartiesBorrower.

Appears in 1 contract

Samples: Credit Agreement (New Jersey Resources Corp)

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