Lender Authorization. Each Lender hereby grants to the Administrative Agent all requisite authority to (i) acquire the Existing Empire State Mortgage Debt on behalf of the Term A Lenders, and accept any Term A Note on their behalf, (ii) enter into Mortgage Debt Assignments on behalf of the Revolving Credit Lenders, and accept any Revolving Credit Note on their behalf and (iii) enter into any of the transactions or arrangements contemplated under this Section 2.22 on behalf of the applicable Lenders, and to bind such Lenders thereto by the Administrative Agent’s entering into or otherwise becoming bound thereby, and no further consent or approval on the part of any Lender is or will be required in connection with any such actions taken by the Administrative Agent.
Appears in 3 contracts
Sources: Credit Agreement (Empire State Realty Trust, Inc.), Credit Agreement (Empire State Realty OP, L.P.), Credit Agreement (Empire State Realty Trust, Inc.)