Common use of The Facility Agent Clause in Contracts

The Facility Agent. the Security Agent and Creditors shall jointly take care of and maintain the rights that each of the Creditors has in the Pool Assets as long as the Borrower is indebted under this Agreement. If any Creditor performs or refrains from performing which results in the rights in the Pool Assets in relation to such Creditor to be diminished without obtaining the consent from other Creditors the proportion that such Creditor shall receive from the enforcement of Pool Assets pursuant to Clause 14.10 shall be reduced by the same amount.

Appears in 4 contracts

Samples: Second Credit Facilities Agreement (Innovex Inc), Third Credit Facilities Agreement (Innovex Inc), Second Credit Facilities Agreement (Innovex Inc)

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