Joint Benefit Sample Clauses
The Joint Benefit clause establishes that certain rights, obligations, or benefits outlined in the agreement are intended to apply equally to all parties involved. In practice, this means that any advantages, protections, or entitlements specified under the clause are shared among the parties, rather than being exclusive to one. For example, if the contract provides for indemnification or access to information, both parties would be able to claim these benefits. The core function of this clause is to ensure fairness and mutuality, preventing one-sided advantages and clarifying that the agreement's provisions are for the collective benefit of all signatories.
Joint Benefit. The Companies engage in complimentary lines of ------------- business and therefore each Loan made hereunder to any of the Companies, and each Letter of Credit made available hereunder, benefits all of the Companies.
Joint Benefit. Each Co-Borrower represents to Agent and each Lender that each Co-Borrower will receive direct and indirect benefits from the availability of the Loans, and from the ability to access the collective credit resources of Co-Borrowers. Each Co-Borrower irrevocably authorizes the Borrower to act on its behalf in requesting, authorizing, and directing the use of the proceeds of the Loan, and each Co-Borrower agrees to be bound by the acts of the Borrower in connection with the Loan Documents. It is expressly understood by each Co-Borrower that Agent and Lenders shall have no responsibility to inquire into the apportionment, allocation or disposition of any Loans among the Borrower and the Co-Borrowers; that all Loans or other credit accommodations are made for the account of the Borrower and the Co-Borrowers; that the handling of the Facility on a joint borrowing basis is solely as an accommodation to the Borrower and the Co-Borrowers; and neither Agent nor Lenders shall incur any liability to any Co-Borrower as a result thereof.
Joint Benefit. Each of the Companies represents and warrants to the Administrative Agent and the Lenders that the Companies engage in complementary lines of business, and therefore each Loan made hereunder to any of the Companies benefits all of the Companies and each Loan made hereunder to all of the Companies benefits each of the Companies.
Joint Benefit. 76 ss.28.2. Duty to Keep Informed.............................................................................76 ss.28.3. Consents..........................................................................................77 ss.28.4. Suretyship Waivers................................................................................77 ss.28.5. Subordination.....................................................................................79 Exhibit A Form of Note Exhibit B Form of Loan Request Exhibit C Form of Compliance Certificate Exhibit D Form of Swingline Loan Request Exhibit E Form of Assignment and Acceptance Exhibit F Form of Letter of Credit Request Exhibit G Form of Letter of Credit Application Exhibit H Form of Competitive Bid Quote Request Exhibit I Form of Invitation for Competitive Bid Quotes Exhibit J Form of Competitive Bid Quote Exhibit K Form of Acceptance of Competitive Bid Quote Exhibit L Form of Joinder Agreement Schedule 1 Lenders; Domestic and LIBOR Lending Offices Schedule 1.1 Unencumbered Properties and Unencumbered Development Properties Schedule 1.2 Commitments and Commitment Percentages Schedule 1.3 Related Companies, Co-Borrowers and Unconsolidated Entities Schedule 1.4. Existing Letter of Credit Schedule 6.3 Title to Properties Schedule 6.7 Litigation Schedule 6.15 Insider Transactions Schedule 6.16 Employee Benefit Plans Schedule 6.18 Environmental Matters Schedule 6.19 Company Assets Schedule 6.21 Building Structural Defects, etc. Schedule 7.18 Interest Rate Contracts Schedule 8.2(d) Investments CREDIT AGREEMENT This CREDIT AGREEMENT is made as of the 16th day of January, 2003, by and among LIBERTY PROPERTY LIMITED PARTNERSHIP, a Pennsylvania limited partnership (the "Borrower"), LIBERTY PROPERTY TRUST, a Maryland trust (the "Company"), the Co-Borrowers named on the signature pages hereof and any entity that may become an additional Co-Borrower pursuant to ss.5.6 (the "Co-Borrowers") and FLEET NATIONAL BANK, a national banking association ("Fleet"), the other lending institutions which are listed from time to time on Schedule 1 (collectively, with Fleet, the "Lenders"), WACHOVIA BANK, NATIONAL ASSOCIATION, as co-syndication agent, BANK ONE, N.A., as co-syndication agent, ▇▇▇▇▇ FARGO BANK, NATIONAL ASSOCIATION, as documentation agent, PNC BANK, NATIONAL ASSOCIATION, as managing agent, SUNTRUST BANK as co-agent, and FLEET NATIONAL BANK, as administrative agent for itself and such other lending institutions (the "Agent").
Joint Benefit. 27 Section 5.16 Licenses.................................................27 Section 5.17. Chief Executive Office...................................27 Section 5.18.
Joint Benefit. The business operations of each Obligor are interrelated and complement one another, and such entities have a common business purpose. The proceeds of Notes will benefit the Co-Issuers and each other Guarantor, severally and jointly, regardless of which entity receives part or all of any such proceeds.