Common use of Duties Specified Clause in Contracts

Duties Specified. Each Lender irrevocably authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 10 contracts

Samples: Loan Agreement (PCD Inc), Loan Agreement (Convergent Group Corp), Loan Agreement (Innoveda Inc)

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Duties Specified. Each Lender irrevocably authorizes ------------- ---------------- the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 3 contracts

Samples: Loan Agreement (Nxtrend Technology Inc), Loan Agreement (Talentpoint Inc), Loan Agreement (Somera Communications Inc)

Duties Specified. Each Lender irrevocably ------------- ---------------- authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Loan Agreement (Boron Lepore & Associates Inc)

Duties Specified. Each Lender irrevocably authorizes the Administrative Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party behalf and to exercise such powers hereunder and under the Financing other Loan Documents and other instruments and agreements referred to herein as are specifically delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Administrative Agent shall have only those duties and responsibilities which that are expressly specified in this Agreement or in any of and the Financing other Loan Documents and it may perform such duties by or through its agents or employees. The duties of the No Managing Agent or Co-Arranger shall have any duty or responsibility under this Agreement or any Loan Document in its capacity therein. No Managing Agent, Co-Arranger or Administrative Agent shall be mechanical and administrative in nature; and the Agent shall not have have, by reason of this Agreement or any of the Financing Documents other Loan Documents, a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the Financing other Loan Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

Duties Specified. Each Lender irrevocably authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Financing Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Loan Agreement (Trimble Navigation LTD /Ca/)

Duties Specified. Each Lender irrevocably authorizes the Administrative Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party behalf and to exercise such powers hereunder and under the Financing other Loan Documents and other instruments and agreements referred to herein as are specifically delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Administrative Agent shall have only those duties and responsibilities which that are expressly specified in this Agreement or in any of and the Financing other Loan Documents and it may perform such duties by or through its agents or employees. The duties of Neither the Managing Agent nor the Arranger shall have any duty or responsibility under this Agreement or any Loan Document in its capacity therein. Neither the Managing Agent, Arranger nor Administrative Agent shall be mechanical and administrative in nature; and the Agent shall not have have, by reason of this Agreement or any of the Financing Documents other Loan Documents, a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the Financing other Loan Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

Duties Specified. Each Lender irrevocably authorizes the Agent to ---------------- take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Loan Agreement (Cornerstone Brands Inc)

Duties Specified. Each Lender irrevocably authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein. Without limiting any of the other provisions of this Article 8, the Agent agrees to exercise the same degree of care hereunder in its capacity as Agent for the Lenders as the Agent does to protect its own interest as a Lender.

Appears in 1 contract

Samples: Loan Agreement (PCD Inc)

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Duties Specified. Each Lender Bank irrevocably authorizes the Agent to take such action on such LenderBank's behalf, including, including without limitation, limitation to execute and deliver the Financing Related Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Related Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Related Documents and it may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Related Documents a fiduciary relationship in respect of any LenderBank; and nothing in this Agreement or any of the Security Related Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Related Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Loan Agreement (Wellman Inc)

Duties Specified. Each Lender irrevocably authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall be responsible for delivering to each Lender, promptly upon Agent's receipt of the same, copies of all financial statements, reports and other written materials required to be delivered to Agent pursuant to Section 7.04 hereto. Agent shall have only those other duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Documents and it may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security DocumentsAgreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Credit Agreement (French Fragrances Inc)

Duties Specified. Each Lender irrevocably authorizes the Administrative Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Documents to which the Agent is a party behalf and to exercise such powers hereunder and under the Financing other Loan Documents and other instruments and agreements referred to herein as are specifically delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Administrative Agent shall have only those duties and responsibilities which that are expressly specified in this Agreement or in any of and the Financing other Loan Documents and it may perform such duties by or through its agents or employees. The duties of the No Managing Agent or Co-Arranger shall have any duty or responsibility under this Agreement or any Loan Document in its capacity therein. No Managing Agent, Co- Arranger or Administrative Agent shall be mechanical and administrative in nature; and the Agent shall not have have, by reason of this Agreement or any of the Financing Documents other Loan Documents, a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the Financing other Loan Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

Duties Specified. Each Lender irrevocably authorizes the Agent to take such action on such Lender's behalf, including, without limitation, to execute and deliver the Financing Security Documents to which the Agent is a party and to exercise such powers hereunder and under the Financing Security Documents and other instruments and agreements referred to herein as are specifically delegated to the Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. The Agent shall have only those duties and responsibilities which are expressly specified in this Agreement or in any of the Financing Security Documents and it may perform such duties by or through its agents or employees. The duties of the Agent shall be mechanical and administrative in nature; and the Agent shall not have by reason of this Agreement or any of the Financing Security Documents a fiduciary relationship in respect of any Lender; and nothing in this Agreement or any of the Security Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement or any of the Financing Security Documents or the other instruments and agreements referred to herein except as expressly set forth herein or therein.

Appears in 1 contract

Samples: Loan Agreement (Galaxy Telecom Lp)

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