Common use of Authorization of Agents Clause in Contracts

Authorization of Agents. Each Lender hereby authorizes the Collateral Agent to enter into the Loan Guaranties and the Collateral Documents; provided that Collateral Agent shall not enter into or consent to any amendment, modification, termination or waiver of any provision contained in any Loan Guaranty or Collateral Document without the prior consent of Requisite Lenders or, to the extent required by subsection 9.6A(ii), all of the Lenders. Each Lender agrees that no Lender shall have any right individually to seek or to enforce any Loan Guaranty or to realize upon the security granted by any Collateral Documents, it being understood and agreed that such rights and remedies may be exercised by Collateral Agent for the benefit of Lenders upon the terms of the Loan Guaranties and the Collateral Documents. Each Lender and Agent hereby authorizes Collateral Agent to release Collateral as permitted or required under this Agreement or the Collateral Documents, and agrees that a certificate executed by Collateral Agent evidencing such release of Collateral shall be conclusive evidence of such release as to any third party.

Authorization of Agents. Each Lender hereby authorizes the Collateral Agent to enter into the Loan Guaranties and the Collateral Documents; provided that Collateral Agent shall not enter into or consent to any amendment, -------- modification, termination or waiver of any provision contained in any Loan Guaranty or Collateral Document without the prior consent of Requisite Lenders or, to the extent required by subsection 9.6A(ii), all of the Lenders. Each Lender agrees that no Lender shall have any right individually to seek or to enforce any Loan Guaranty or to realize upon the security granted by any Collateral Documents, it being understood and agreed that such rights and remedies may be exercised by Collateral Agent for the benefit of Lenders upon the terms of the Loan Guaranties and the Collateral Documents. Each Lender and Agent hereby authorizes Collateral Agent to release Collateral as permitted or required under this Agreement or the Collateral Documents, and agrees that a certificate executed by Collateral Agent evidencing such release of Collateral shall be conclusive evidence of such release as to any third party.