Conjunction Agents Sample Clauses

The Conjunction Agents clause designates two or more parties to act jointly as agents for a specific purpose within an agreement. In practice, this means that the appointed agents must act together when making decisions, executing documents, or carrying out instructions on behalf of the principal or the parties to the contract. For example, in a syndicated loan, multiple banks may be appointed as conjunction agents to manage the loan collectively. This clause ensures coordinated action and shared responsibility among the agents, reducing the risk of unilateral decisions and promoting transparency in the administration of the agreement.