Common use of Appointment of the Agent and the Security Agent Clause in Contracts

Appointment of the Agent and the Security Agent. (a) Each other Finance Party appoints the Agent to act as its agent under and in connection with the Finance Documents. (b) Each other Secured Party appoints the Security Agent to act as security trustee under and in connection with the Finance Documents. (c) Each other: (i) Finance Party authorises the Agent; and (ii) Secured Party authorises the Security Agent, to exercise the rights, powers, authorities and discretions specifically given to it under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions.