Appointed Party definition
Examples of Appointed Party in a sentence
The Obligors acknowledge and agree that should the Appointed Party act in accordance with this provision, such Appointed Party will have all the rights, remedies, benefits and powers as are granted to the Collateral Agent pursuant hereto or pursuant to any Security Documents.
No Appointed Party shall be under any obligation to exercise any of the rights or powers vested in it by any Financing Document at the request or direction of its Appointing Parties, unless such Appointed Party shall have been offered security or indemnity or other arrangement to reimburse reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction (including interest thereon from the time incurred until reimbursed).
Any court-appointed successor Appointed Party shall automatically be replaced by a successor Appointed Party subsequently appointed by relevant MPA Parties pursuant to this Section 7.06.
No Appointed Party shall have any responsibility to make any investigation into the facts or matters stated in any notice, certificate, instrument, demand, request, direction, instruction, waiver, receipt, consent or other document or communication furnished to it hereunder or under any other Financing Document.
Each Appointed Party shall have no duties other than those specifically set forth or provided for in this Agreement and each other Financing Document to which it is a party and no implied covenants or obligations of such Appointed Party shall be read into this Agreement or any other Financing Document or any related agreement to which it is a party.
Executed counterparts of each Financing Document required to be executed and delivered at or prior to the date of this Agreement have been delivered to each Appointed Party and each Appointed Party acknowledges receipt thereof.
Each Appointed Party may consult with, and obtain advice from, legal counsel, accountants, engineers and other experts, in connection with the performance of its duties hereunder and under any other Financing Document and it shall incur no liability and shall be fully protected in acting in good faith in accordance with the opinion and advice of such counsel, accountants and other experts (as to matters within any such expert's field of expertise).
Each Appointed Party shall be entitled to act upon any notice, certificate, instrument, demand, request, direction, instruction, waiver, receipt, consent or other document or communication furnished hereunder or under any other Financing Document which it in good faith believes to be genuine, and it shall be entitled to rely conclusively upon the due execution, validity and effectiveness, and the truth and acceptability of any provisions contained therein.
After the ACCOUNTING UNITS are revised, the Appointed Party shall, in accordance with Schedule B, prepare and send to each PARTY and the CENTRAL BILLING PARTY revised Schedules Cl and C2.
This Agreement and any other Financing Document to which it is a party have been duly executed by such Appointed Party and constitute the legal, valid and binding obligations of such Appointed Party enforceable against it in accordance with their respective terms, subject in the case of enforcement to any applicable bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors' rights in general and to equitable principles of general application.