Role of the Agent and the Arranger. 26.1 Appointment of the Agent 26.1.1 Each Lender appoints the Agent to act as its agent under and in connection with the Finance Documents. 26.1.2 Each other Finance Party authorises the Agent to exercise the rights, powers, authorities and discretions specifically given to the Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 26.2 Duties of the Agent 26.2.1 The Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Agent for that Party by any other Party. 26.2.2 Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. 26.2.3 If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Finance Parties. 26.2.4 If the Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the Agent or the Arranger) under this Agreement it shall promptly notify the other Finance Parties. 26.2.5 The Agent's duties under the Finance Documents are solely mechanical and administrative in nature. The Agent shall only have those duties which are expressly specified in the Finance Documents.
Appears in 2 contracts
Sources: Facility Agreement (Hines Global REIT, Inc.), Facility Agreement (Hines Global REIT, Inc.)