Common use of Designation of Lead Borrower as Borrowers’ Agent Clause in Contracts

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower's agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in Section 2.1(d) and to request the issuance of L/Cs and Banker's Acceptances for such Borrower. The Borrowers further irrevocably designate and appoint Retail Ventures Imports, Inc. as their agent to request the issuance of L/Cs and Banker's Acceptances for such Borrower (to the extent that the Lead Borrower does not make such request). As the disclosed principal for its agent, each Borrower shall be obligated to each Agent and each Revolving Credit Lender on account of loans and advances so made to, and L/Cs and Banker's Acceptances so issued for it under the Revolving Credit as if made directly by the Revolving Credit Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower's agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in Section 2.1(d) and to request the issuance of L/Cs and Banker's Acceptances for such Borrower. The Borrowers Value City Entities and Filene's further irrevocably designate and appoint Retail Ventures Imports, Inc. as their agent to request the issuance of L/Cs and Banker's Acceptances for such Borrower (to the extent that the Lead Borrower does not make such request). As the disclosed principal for its agent, each Borrower shall be obligated to each the Agent and each Revolving Credit Lender on account of loans and advances so made to, and L/Cs and Banker's Acceptances so issued for it for, its Division under the Revolving Credit as if made directly by the Revolving Credit Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.

Designation of Lead Borrower as Borrowers’ Agent. (a) Each Borrower hereby irrevocably designates and appoints the Lead Borrower as that Borrower's agent to obtain loans and advances under the Revolving Credit, the proceeds of which shall be available to each Borrower for those uses as those set forth in Section 2.1(d) and to request the issuance of L/Cs and Banker's Acceptances for such Borrower. The Borrowers Value City Entities and Filene's further irrevocably designate and appoint Retail Ventures Imports, Inc. Value City Imports (a division of Schottenstein Stores Corporation) as their agent to request the issuance of L/Cs and Banker's Acceptances for such Borrower (to the extent that the Lead Borrower does not make such request)Borrower. As the disclosed principal for its agent, each Borrower shall be obligated to each Agent and each Revolving Credit Lender on account of loans and advances so made to, and L/Cs and Banker's Acceptances so issued for it for, its Division under the Revolving Credit as if made directly by the Revolving Credit Lenders to that Borrower, notwithstanding the manner by which such loans and advances are recorded on the books and records of the Lead Borrower and of any Borrower.