Reliance on Managing Agent Clause Samples

Reliance on Managing Agent. Unless otherwise advised in writing by a Managing Agent or by any Conduit Purchaser or Committed Purchaser in such Managing Agent's Purchaser Group, each party to this Agreement may assume that (i) such Managing Agent is acting for the benefit and on behalf of each of the Conduit Purchasers and Committed Purchasers in its Purchaser Group, as well as for the benefit of each assignee or other transferee from any such Person, and (ii) each action taken by such Managing Agent has been duly authorized and approved by all necessary action on the part of the Conduit Purchasers and Committed Purchasers in its Purchaser Group.