Common use of DOMESTIC BORROWERS Clause in Contracts

DOMESTIC BORROWERS. Each of the Domestic Borrowers hereby irrevocably designates, appoints and authorizes each other Domestic Borrower as its agent and attorney-in-fact to take actions under this Agreement and the other Loan Documents, together with such powers as are reasonably incidental thereto. The Administrative Agent, the Issuing Bank and the Lenders shall be entitled to rely, and shall be fully protected in relying, upon any communication from or to any Domestic Borrower as having been delivered by or to all Domestic Borrowers. Any action taken by one Domestic Borrower under this Agreement and the other Loan Documents shall be binding upon the other Domestic Borrowers. Each Domestic Borrower agrees that it is jointly and severally liable to the Administrative Agent, the Issuing Bank and the Lenders for the payment of the Domestic Obligations and that such liability is independent of the Obligations of the other Borrowers and whether such Obligations become unenforceable against any other Borrower.

Appears in 2 contracts

Samples: Credit Agreement (NMHG Holding Co), Credit Agreement (Hyster Overseas Capital Corp LLC)

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DOMESTIC BORROWERS. Each of the Domestic Borrowers hereby irrevocably designates, appoints and authorizes each other Domestic Borrower as its agent and attorney-in-fact to take actions under this Agreement and the other Loan Documents, together with such powers as are reasonably incidental thereto. The Administrative Agent, the Issuing Bank Banks and the Lenders shall be entitled to rely, and shall be fully protected in relying, upon any communication from or to any Domestic Borrower as having been delivered by or to all Domestic Borrowers. Any action taken by one Domestic Borrower under this Agreement and the other Loan Documents shall be binding upon the other Domestic Borrowers. Each Domestic Borrower agrees that it is jointly and severally liable to the Administrative Agent, the Issuing Bank Banks and the Lenders for the payment of the Domestic Obligations and that such liability is independent of the Obligations of the other Borrowers and whether such Obligations become unenforceable against any other Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Nacco Industries Inc), Credit Agreement (Nacco Industries Inc)

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