Process Agent definition
Examples of Process Agent in a sentence
Each Process Agent shall promptly notify any respective counterparty (including, for the avoidance of doubt, the Administrative Agent) under the relevant Loan Document of any change of address, accept any documents delivered to it and fulfil any requirements as a process agent pursuant to any applicable law.
Each Process Agent shall ensure that documents to be served to the relevant Loan Party may validly be served by delivery to that Process Agent.
If for any reason the Process Agent shall cease to act as such and the Borrower does not at such time have a business office within the State of New York, the Borrower agrees to promptly designate new designees, appointees and agents in New York, New York on the terms and for the purposes reasonably satisfactory to the Administrative Agent, which new designees, appointees and agents shall thereafter be deemed to be the Process Agent for all purposes of this Agreement and the other Facility Documents.