Funding Agent Powers Clause Samples
The "Funding Agent Powers" clause defines the authority and responsibilities granted to the funding agent within a financial agreement. Typically, this clause outlines the agent's ability to act on behalf of the lenders, manage the disbursement and collection of funds, and enforce the terms of the agreement. For example, the funding agent may be empowered to make decisions regarding loan advances, handle communications with borrowers, or take action in the event of a default. The core function of this clause is to centralize and clarify the operational powers of the funding agent, ensuring efficient administration and reducing the risk of disputes among parties.
Funding Agent Powers. Each Funding Agent shall have and may exercise such powers under the Transaction Documents as are specifically delegated to such Funding Agent by the terms thereof, together with such powers as are reasonably incidental thereto. No Funding Agent shall have any implied duties or fiduciary duties to the Lenders in its Lender Group, or any obligation to such Lenders to take any action hereunder or under any of the other Transaction Documents except any action specifically provided by the Transaction Documents required to be taken by such Funding Agent.
Funding Agent Powers. Each Lender authorizes the Funding Agent in its Lender Group to take such action on such ▇▇▇▇▇▇’s behalf and to exercise such powers, rights and remedies hereunder and under the other Transaction Documents as are specifically delegated or granted to the Funding Agents by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. The Funding Agents shall have only those duties and responsibilities that are expressly specified herein and in the other Transaction Documents. The Funding Agents may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. The Funding Agents shall not have, by reason hereof or in any of the other Transaction Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Transaction Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Funding Agents any obligations in respect hereof or any of the other Transaction Documents except as expressly set forth herein or therein.
Funding Agent Powers. Each Lender authorizes the Funding Agent in its Lender Group to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Transaction Documents as are specifically delegated or granted to the Funding Agents by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. The Funding Agents shall have only those duties and responsibilities that are expressly specified herein and in the other Transaction Documents. The Funding Agents may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. The Funding Agents shall not have, by reason hereof or in any of the other Transaction [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed. Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Transaction Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Funding Agents any obligations in respect hereof or any of the other Transaction Documents except as expressly set forth herein or therein.
Funding Agent Powers. Each Funding Agent shall have and may exercise such powers under the Transaction Documents as are specifically delegated to such Funding Agent by the terms thereof, together with such powers as are reasonably incidental thereto. No Funding Agent shall have any implied duties or fiduciary duties to the Lenders in its Lender Group, or any obligation to such Lenders to take any action hereunder or under any of the other Transaction Documents except any action specifically provided by the Transaction Documents required to be taken by such Funding Agent. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause competitive harm to the company if publicly disclosed.
Funding Agent Powers. 71 Section 7.20. Funding Agent General Immunity ................................................................71 Section 7.21. Funding Agent Responsibility for Advances, Creditworthiness, Collateral, Recitals, Etc.................................................................................71 Section 7.22. Funding Agent Action on Instructions of Lenders .......................................72 Section 7.23. Funding Agent Employment of Agents and Counsel ...................................72 Section 7.24. Funding Agent Reliance on Documents; Counsel ........................................72 Section 7.25. Funding Agent’s Reimbursement and Indemnification ................................72 Section 7.26. Funding Agent Rights as a Lender................................................................73 Section 7.27. Funding Agent Lender Credit Decision ........................................................73 Section 7.28. Funding Agent Successor Funding Agent ....................................................73 Section 7.29. Funding Agent Transaction Documents; Further Assurances ......................73 Section 7.30. Acknowledgment of Collateral Documents ..................................................74 ARTICLE VIII