Responsibility of Agents Clause Samples
The Responsibility of Agents clause defines the duties and obligations that agents must fulfill when acting on behalf of a principal in a contractual relationship. Typically, this clause outlines the agent’s requirement to act in the best interests of the principal, follow lawful instructions, and avoid conflicts of interest. For example, an agent may be required to keep the principal informed of relevant developments and to refrain from unauthorized transactions. The core function of this clause is to ensure accountability and clarify the scope of authority and expected conduct for agents, thereby reducing the risk of misunderstandings or misconduct.
Responsibility of Agents. The duties and obligations of the Agents hereunder are only those expressly set forth herein or therein. The Administrative Agent has no duty to investigate whether a Default or an Event of Default has occurred. The Administrative Agent is entitled to assume that no Default or Event of Default has occurred and is continuing, unless the Administrative Agent has actual knowledge or has been notified in writing by a Borrower of such fact or has been notified in writing by a Lender that such Lender considers that a Default or an Event of Default has occurred and is continuing, such notification to specify in detail the nature thereof.
Responsibility of Agents. If the Trading Partner uses the services of an Agent in any capacity in order to receive, transmit, store or otherwise process Data or Data Transmissions or perform related activities, the Trading Partner shall be fully liable to DMH or for any acts, failures or omissions of the Agent in providing said services as though they were the Trading Partner’s own acts, failures, or missions. Upon request by DMH, Trading Partners must also provide documentation demonstrating that all Agents have current and applicable Business Associate Agreements in order to represent said Trading Partner.
Responsibility of Agents. The duties and obligations of each Agent to the Finance Parties under the Credit Documents are only those expressly set forth herein. No Agent shall have any duty to the Finance Parties to investigate whether a Default or an Event of Default has occurred. Each Agent shall, as regards the Finance Parties, be entitled to assume that no Default or Event of Default has occurred and is continuing unless such Agent has been notified in writing by such Obligor, as applicable, of such fact or has been notified in writing by a Finance Party that such Finance Party considers that a Default or Event of Default has occurred and is continuing, such notification to specify in detail the nature thereof. In determining compliance with any condition hereunder to the extension of any credit hereunder that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to such extension of credit.
Responsibility of Agents. If applicable, the CIS agents and representatives who are not domiciled in the U.S. shall be in no manner held responsible for the performance by CIS of its obligations under this Agreement.