Priority Revolving Agent definition
Examples of Priority Revolving Agent in a sentence
The agreements in this Section 9.17 shall survive the resignation or replacement of the Administrative Agent and the Priority Revolving Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations.
Any payments under this Agreement that are made later than 2:00 p.m., New York time, shall be deemed to have been made on the next succeeding Business Day (but the Administrative Agent (or in the case of the Priority Revolving Facility, the Priority Revolving Agent) may extend such deadline for purposes of computing interest and fees (but not beyond the end of such day) in its sole discretion whether or not such payments are in process).
In such event, each Appropriate Lender’s payment to the Priority Revolving Agent for the account of the relevant Issuing Bank pursuant to Section 2.03(3)(b) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03.
Any notice given by an Issuing Bank or the Priority Revolving Agent pursuant to this Section 2.03(3)(a) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice.
The undertaking in this Section 9.08 shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation of the Administrative Agent and the Priority Revolving Agent.
For so long as any Letter of Credit issued by an Issuing Bank that is not the Priority Revolving Agent is outstanding, such Issuing Bank shall deliver to the Priority Revolving Agent on the last Business Day of each calendar month, and on each date that an L/C Credit Extension occurs with respect to any such Letter of Credit, a report substantially in the form of Exhibit R-1, appropriately completed with the information for every outstanding Letter of Credit issued by such Issuing Bank.
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in Section 10.07(4) and, to the extent expressly contemplated hereby, Related Persons of each of the Administrative Agent, the Priority Revolving Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.
A certificate of the relevant Issuing Bank submitted to any Revolving Lender (through the Priority Revolving Agent) with respect to any amounts owing under this Section 2.03(3)(f) shall be conclusive absent manifest error.
For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) (or to the extent related to the Priority Revolving Facility, the Priority Revolving Agent, in its capacity as Priority Revolving Agent) shall have no responsibility for maintaining a Participant Register.
Anything herein to the contrary notwithstanding, none of the Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Priority Revolving Agent, the Collateral Agent, a Lender, Swing Line Lender or an Issuing Bank hereunder, as the case may be.