Common use of Applicable Parties Clause in Contracts

Applicable Parties. The provisions of this Article are solely for the benefit of the Agent, the Collateral Agent and the Lenders, and the Borrowers shall not have any rights as a third party beneficiary or otherwise or any obligations under any of the provisions of this Article. In performing functions and duties hereunder and under the other Loan Documents, the Agent and the Collateral Agent shall act solely as the agent of the Lenders and do not assume, nor shall either be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrowers or any legal representative, successor, and assign of the Borrowers.

Applicable Parties. The provisions of this Article are solely for the benefit of the Agent, the Collateral Agent and the Lenders, and the Borrowers shall not have any rights as a third party beneficiary or otherwise or any obligations under any of the provisions of this Article. In performing per forming functions and duties hereunder and under the other Loan Documents, the Agent and the Collateral Agent shall act solely as the agent of the Lenders and do not assume, nor shall either be deemed to have assumed, any obligation or relationship of trust or agency with or for the Borrowers or any legal representative, successor, and assign of the Borrowers.