Program Agent Clause Samples
The Program Agent clause designates a specific party to act as the central coordinator or representative for all parties involved in a multi-lender or syndicated financial arrangement. This agent is typically responsible for administering the program, communicating notices, collecting and distributing payments, and ensuring compliance with the agreement's terms on behalf of the lenders. By centralizing these administrative tasks, the clause streamlines communication and operations, reducing complexity and minimizing the risk of miscommunication among multiple parties.
Program Agent. The Member shall designate, in writing, the person or persons, who shall have express authority to represent and bind the Member in the administration of this Agreement, with respect to each purchasing program, and the ESC will not be required to contact any other individual regarding program matters:
Program Agent. The Holding Company may appoint a successor Program Agent or remove any Program Agent, subject to any agreement between the Holding Company and the Program Agent. The Holding Company shall promptly provide notice of any such appointment or removal to the Trustee and the Custodian. If any such appointment or removal is made prior to the first anniversary of the Plan Effective Date, the Holding Company shall promptly provide notice to the Superintendent.
Program Agent. Program Agent shall mean The Chase Manhattan Bank or its successors, unless a different Program Agent shall be designated by the Trust Agreement for a particular Trust Fund. RECORD DATE The meaning assigned to it in the Prospectus for each respective Trust Fund under the caption "Record Dates" appearing in the "Summary of Essential Financial Information."
Program Agent. 5 Prospectus..................................................................6