Initial Administrative Agent definition
Examples of Initial Administrative Agent in a sentence
The Noteholders agree that any replacement Administrative Agent shall be subject to the same responsibilities and limitations with respect to the payment of the Servicing Fee as Initial Administrative Agent was subject during the period that it served as Administrative Agent hereunder.
The Original Grantors also executed and delivered to Trustee for the benefit of the Initial Administrative Agent that , dated as of (the “[Define]”), which [Define] was recorded on as Instrument No. in the Clerk’s Office.
The parties hereby agree that the Protective Provisions shall apply to all actions taken by the Initial Administrative Agent under or in connection with the Loan Documents prior to the Amendment Effective Date.
The Initial Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing reasonably believed by it to be genuine and to have been signed or sent by an authorized representative of the Successor Administrative Agent.
Effective as of the Amendment Effective Date, the Parent and the Initial Administrative Agent agree that the ▇▇▇▇▇ Fargo Fee Letter (as defined in the Credit Agreement) shall be terminated.
Any amounts owed to the Initial Administrative Agent under the Loan Documents shall constitute “Obligations” for all purposes of the Loan Documents.
The Original Deed of Trust and the [Define] are sometimes hereinafter collectively referred to as the “Existing Deed of Trust.” The Initial Administrative Agent has assigned all of its right, title and interest in and to the Existing Deed of Trust to Beneficiary pursuant to that certain Assignment of Deed of Trust, Assignment of Leases and Rents, Security Agreement and Financing Statement, dated as of the date hereof and recorded on , 2017 as Document No. in the Clerk’s Office.
Upon the effectiveness of such amendment, (i) the Successor Administrative Agent shall be responsible for the duties specified hereunder, including maintaining the Lender Register and acting as an agent on behalf of the Lenders, (ii) the Initial Administrative Agent shall assign the security interest in the Collateral granted pursuant to Section 3.1 to the Successor Administrative Agent.
Until the Amendment Effective Date, the Initial Administrative Agent shall continue to have full authority to act as Administrative Agent in accordance with the terms of the Loan Documents.
The Initial Administrative Agent may consult with its legal counsel, independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.