Common use of Separate Agent Clause in Contracts

Separate Agent. The Required Entities may, and if they fail to do so at any time when they are so required, any Agent may, for the purpose of meeting any legal requirements of any jurisdiction in which any Equipment or Collateral may be located, appoint one or more individuals or corporations either to act as co-agent jointly with such Agent or to act as separate agent of all or any part of the Equipment or Collateral or the Lease, and vest in such individuals or corporations, in such capacity, such title to the Equipment or Collateral or the Lease or any part thereof, and such rights or duties as such Agent may consider necessary or Participation Agreement