Common use of Employment of Administrative Agents and Counsel Clause in Contracts

Employment of Administrative Agents and Counsel. Agent has the right to execute any of its duties as the Agent under any Loan Document by or through employees, agents, and attorneys-in-fact and is not answerable to the Lenders, except as to money or securities it or its authorized agents receive, for the default or misconduct of any such agents or attorneys-in-fact it selects with reasonable care. Agent is entitled to advice of counsel concerning the contractual arrangement between Agent and the Lenders and all matters pertaining to Agent’s duties under this any Loan Document.

Appears in 3 contracts

Samples: Credit Agreement (Life Time Fitness, Inc.), Credit Agreement (Life Time Fitness, Inc.), Credit Agreement (Life Time Fitness, Inc.)

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Employment of Administrative Agents and Counsel. Agent has the right to may execute any of its duties as the Agent under any Loan Document this Agreement and the other Transaction Documents by or through employees, agents, agents and attorneys-in-fact and is shall not be answerable to the Lenders, except as to money or securities received by it or its authorized agents receiveagents, for the default or misconduct of any such agents or attorneys-in-fact selected by it selects in good faith and with reasonable care. Agent is shall be entitled to advice and opinion of legal counsel concerning the contractual arrangement between Agent and the Lenders and all matters pertaining to Agent’s the duties under this any Loan Documentof the agency hereby created.

Appears in 1 contract

Samples: Term Loan Agreement (Hennessy Advisors Inc)

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