Subagents. Each Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by such Agent. Each Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of this ARTICLE XI shall apply to any such sub-agent and to the Related Parties of such Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the applicable Agent. No Agent shall not be responsible for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.
Appears in 9 contracts
Sources: Senior Secured Credit Agreement (Phoenix Energy One, LLC), Senior Secured Credit Agreement (Phoenix Energy One, LLC), Senior Secured Credit Agreement (Phoenix Energy One, LLC)
Subagents. Each The Administrative Agent may perform any and all its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by such the Administrative Agent. Each The Administrative Agent and any such sub-agent may perform any and all its of their respective duties and exercise its their respective rights and powers through their respective Related Parties. The exculpatory provisions of this ARTICLE Article XI shall apply to any such sub-agent and to the Related Parties of such the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the applicable Agentpursuant to this Agreement. No The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.
Appears in 6 contracts
Sources: Term Loan Credit Agreement (Coterra Energy Inc.), Credit Agreement (Coterra Energy Inc.), Credit Agreement (Coterra Energy Inc.)