Common use of Administrative Agent and Collateral Agent Clause in Contracts

Administrative Agent and Collateral Agent. Each Lender hereby irrevocably designates and appoints theAres (together with any successor Administrative Agent as the agentor Collateral Agent, as applicable, pursuant to Section 8.09) as the Administrative Agent and the Collateral Agent of such Lender under this Agreement and the other Loan Documents (and ▇▇▇▇ hereby accepts such appointment), and each such Lender irrevocably authorizes ▇▇▇▇, in its capacity as the Administrative Agent, in such capacity and the Collateral Agent, as applicable, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent and the Collateral Agent, as applicable, by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. The Lenders hereby authorize the Administrative Agent to enter into any intercreditor agreement or arrangement permitted under this Agreement and any such intercreditor agreement or arrangement is binding upon the Lenders. Notwithstanding any provision to the contrary elsewhere in this Agreement, each of the Administrative Agent and the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent or the Collateral Agent, as applicable.

Administrative Agent and Collateral Agent. Each Lender hereby irrevocably designates and appoints theAres Ares (together with any successor Administrative Agent as the agentor or Collateral Agent, as applicable, pursuant to Section 8.09) as the Administrative Agent and the Collateral Agent of such Lender under this Agreement and the other Loan Documents (and ▇▇▇▇ Ares hereby accepts such appointment), and each such Lender irrevocably authorizes ▇▇▇▇Ares, in its capacity as the Administrative Agent, in such capacity Agent and the Collateral Agent, as applicable, to take such action on its behalf under the provisions of this Agreement and the other Loan Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent and the Collateral Agent, as applicable, by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental thereto. The Lenders hereby authorize the Administrative Agent to enter into any intercreditor agreement or arrangement permitted under this Agreement and any such intercreditor agreement or arrangement is binding upon the Lenders. Notwithstanding any provision to the contrary elsewhere in this Agreement, each of the Administrative Agent and the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Administrative Agent or the Collateral Agent, as applicable.