Effect of Appointment. Upon a new Agent becoming Agent the resigning/removed Agent will cease to be Agent. Accordingly it will be discharged from its obligations and duties as Agent. It will, however, continue to be able to rely on the terms of this Clause in respect of all matters relating to the period of its appointment. The new Agent will assume the role of Agent. It will have all the rights, powers, discretions and duties of the Agent provided for in the Finance Documents.
Appears in 4 contracts
Sources: Term Loan Facility (NCL Holding Asa), Loan Agreement (SCH Holdings Corp), Multi Currency Revolving Loan Facility (Polaroid Corp)
Effect of Appointment. Upon a new Agent becoming Agent the resigning/removed Agent will cease to be Agent. Accordingly it will be discharged from its obligations and duties as Agent. It will, however, continue to be able to rely on the terms of this Clause in respect of all matters relating to the period of its appointment. The new Agent will assume the role of Agent. It will have all the rights, powers, discretions and duties of the Agent provided for in the Finance Documentsthis Agreement.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Omega Healthcare Investors Inc), Loan Amendment Agreement (Crown Castle International Corp), Loan Amendment Agreement (Crown Castle International Corp)
Effect of Appointment. Upon a new Agent becoming Agent the resigning/resigning or removed Agent will cease to be Agent. Accordingly it will be discharged from its obligations and duties as Agent. It will, however, continue to be able to rely on the terms of this Clause SECTION 20 in respect of all matters relating to the period of its appointment. The new Agent will assume the role of Agent. It will have all the rights, powers, discretions and duties of the Agent provided for in the Finance Documentsthis Agreement.
Appears in 1 contract
Sources: Dm 350,000,000 Multicurrency Revolving Credit Facility (Masco Corp /De/)
Effect of Appointment. Upon a new Agent becoming Agent the resigning/resigning or removed Agent will cease to be Agent. Accordingly it will be discharged from its obligations and duties as Agent. It will, however, continue to be able to rely on the terms of this Clause SECTION 18 in respect of all matters relating to the period of its appointment. The new Agent will assume the role of Agent. It will have all the rights, powers, discretions and duties of the Agent provided for in the Finance Documentsthis Agreement.
Appears in 1 contract
Sources: Term Loan Facility (Masco Corp /De/)