Common use of The Agency Clause in Contracts

The Agency. Each Lender appoints The Bank of New York as its Administrative Agent hereunder and irrevocably authorizes the Administrative Agent to take such action on its behalf and to exercise such powers hereunder and thereunder as are specifically delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto, including the exercise of powers delegated to the Administrative Agent and the Lenders thereby, and the Administrative Agent hereby accepts such appointment subject to the terms hereof. The relationship between the Administrative Agent and the Lenders shall be that of agent and principal only and nothing herein shall be construed to constitute the Administrative Agent a trustee or fiduciary for any Lender nor to impose on the Administrative Agent duties or obligations other than those expressly provided for herein.

The Agency. Each Lender Bank appoints The Chase Manhattan Bank of New York as its Administrative Agent hereunder and irrevocably authorizes the Administrative Agent The Chase Manhattan Bank to take such action on its behalf and to exercise such powers hereunder and thereunder as are specifically delegated to the Administrative Agent by the terms hereof and thereofhereof, together with such powers as are reasonably incidental theretohereto, including the exercise by the Administrative Agent of powers delegated to the Administrative Agent and the Lenders therebyBanks hereby, and the Administrative Agent The Chase Manhattan Bank hereby accepts such appointment subject to the terms hereof. The relationship between the Administrative Agent and the Lenders Banks shall be that of agent and principal only and nothing herein shall be construed to constitute the Administrative Agent a trustee or fiduciary for any Lender Bank nor to impose on the Administrative Agent duties or obligations other than those expressly provided for herein.