Actions by Operations Agent Clause Samples
The "Actions by Operations Agent" clause defines the authority and responsibilities granted to the operations agent within an agreement. Typically, this clause outlines the specific actions the agent is empowered to take on behalf of the parties, such as managing day-to-day operations, executing instructions, or making decisions related to the administration of the contract. For example, the operations agent may be authorized to process payments, deliver notices, or coordinate between parties. The core function of this clause is to clearly allocate operational authority, ensuring efficient contract administration and reducing ambiguity about who is responsible for carrying out certain tasks.
Actions by Operations Agent. The duties and responsibilities of the Operations Agent hereunder are only those expressly set forth herein. The relationship between the Operations Agent and the Banks is and shall be that of agent and principal only, and nothing contained in this Agreement or any of the other Loans Documents shall be construed to constitute the Operations Agent as a trustee for any Bank. Without limiting the generality of the foregoing, the Operations Agent shall not be required to take any action with respect to any Default or Event of Default, except as expressly provided in Article VI.