Common use of Secured Party as Agent Clause in Contracts

Secured Party as Agent. Secured Party has been appointed to act as Secured Party hereunder by Lenders and, by their acceptance of the benefits of this Agreement and the other Loan Documents, by each Interest Rate Exchanger. Secured Party shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Collateral), solely in accordance with this Agreement and the Credit Agreement and upon the instructions of Requisite Lenders, and the Interest Rate Exchangers, by their acceptance of the benefits of this Agreement and the other Loan Documents, hereby agree to be bound by such instructions.

Secured Party as Agent. Secured Party has been appointed to act as Secured Party hereunder by Lenders and, by their acceptance of the benefits of this Agreement and the other Loan Documents, by each Interest Rate Exchanger. Secured Party shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including, without limitation, the release or substitution of Collateral), solely in accordance with this Agreement and the Credit Agreement and upon the instructions of Requisite Lenders, and the Interest Rate Exchangers, by their acceptance of the benefits of this Agreement Agreement, and the other Loan Documents, hereby agree to be bound by such instructions.