New Agents Clause Samples
The "New Agents" clause defines the terms under which either party may appoint or engage new agents, representatives, or intermediaries in relation to the agreement. Typically, this clause outlines any requirements for notification, approval, or restrictions on appointing new agents, such as ensuring they meet certain qualifications or do not conflict with existing agreements. Its core function is to maintain transparency and control over who is authorized to act on behalf of the parties, thereby reducing the risk of unauthorized actions or conflicts of interest.
New Agents. (a) Any person acceding to the Senior Secured Term Loan Facility as an Agent under that agreement must at the same time become bound by this Agreement as the relevant Agent by executing an Accession Agreement.
(b) No Agent may be replaced or resign except as expressly allowed in the Senior Secured Term Loan Facility.
New Agents. ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank USA and Deutsche Bank Securities, Inc. are hereby appointed co-documentation agents and Citigroup Global Markets, Inc. ("CGMI") and Bank of America, N.A. are hereby appointed joint arrangers and CGMI is hereby appointed syndication agent. Bank of America, N.A. will remain the Agent.
New Agents. Upon its appointment becoming effective, a successor Agent shall, without further act, deed or conveyance, become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of its predecessor or, as the case may be, a Paying Agent with like effect as if originally named as an Agent under this agreement.
New Agents. JPMorgan Chase Bank, NA and Societe Generale are each hereby appointed Co-Syndication Agent, and Union Bank, N.A. and The Royal Bank of Scotland plc are each hereby appointed Co-Documentation Agent. Each of the foregoing are entitled to the benefits of the indemnity contained in Section 12.03. The Co-Syndication Agents and the Co-Documentation Agents shall have no duties, responsibilities or liabilities under the Credit Agreement and the other Loan Documents other than their duties, responsibilities and liabilities in their capacity as Lenders thereunder.
New Agents. New licensees and “Mentees” are defined as those who have recently been licensed or have not yet completed a real estate transaction in Idaho. These Contractors shall be on a 70/30 split (70% to Contractor, 30% to Company) for their first three (3) transactions. Upon successful completion of the first three transactions the Contractor will be subject one of the Company commission plans. As part of this commission arrangement the Contractor shall have access to the Company’s new agent training programs and Certified Mentor Programs. In cases where the Contractor elects to charge a commission of less than 3% of the sales price of the property, the Company will use 3% of the total sales price of the property as the basis of calculating the 70/30 split.