Administrative Agent to Perform Clause Samples
The "Administrative Agent to Perform" clause designates the administrative agent as the party responsible for carrying out specific duties and obligations on behalf of the lenders or other parties in a financial agreement. In practice, this means the administrative agent will handle tasks such as processing payments, distributing notices, and coordinating communications among the parties. By clearly assigning these responsibilities, the clause ensures efficient management of administrative tasks and helps prevent confusion or disputes over who is accountable for essential functions within the agreement.
Administrative Agent to Perform. The Administrative Agent will, for the benefit of the Collateral Agent, the other parties to this Agreement and the Exchange Noteholders, perform the obligations of the Collateral Agent under this Agreement and the other Basic Documents. The Collateral Agent will not be responsible for, nor have liability for, any actions taken or not taken by the Administrative Agent on behalf of the Collateral Agent. It is intended that, under the HTD Administration Agreement, the Administrative Agent will delegate to the Collateral Agent Administrator certain of the Collateral Agent's obligations that the Administrative Agent is required to perform under this Section 8.1(b), and each party to this Agreement and each Exchange Noteholder, by accepting an Exchange Note, consents to the delegation.