The Borrower Representative Sample Clauses
The Borrower Representative clause designates a specific individual or entity to act on behalf of all borrowers in matters related to the loan agreement. This representative is authorized to communicate with the lender, make decisions, and deliver notices or consents required under the agreement, streamlining interactions between the parties. By centralizing authority, the clause ensures efficient communication and decision-making, reducing confusion and administrative burden when multiple borrowers are involved.
The Borrower Representative. Each Borrower hereby designates the Borrower Representative as its representative and agent for all purposes under the Loan Documents, including requests for Loans, designation of interest rates, delivery or receipt of communications, preparation and delivery of financial reports, requests for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants), and all other dealings with the Administrative Agent or any Lender. The Borrower Representative hereby accepts such appointment. The Administrative Agent and the Lenders shall be entitled to rely upon, and shall be fully protected in relying upon, any notice or communication (including any notice of borrowing) delivered by the Borrower Representative on behalf of any Borrower. The Administrative Agent and the Lenders may give any notice or communication with a Borrower hereunder to the Borrower Representative on behalf of such Borrower. Each of the Administrative Agent and the Lenders shall have the right, in its discretion, to deal exclusively with the Borrower Representative for any or all purposes under the Credit Documents. Each Borrower agrees that any notice, election, communication, representation, agreement or undertaking made on its behalf by the Borrower Representative shall be binding upon and enforceable against it. Anything contained herein to the contrary notwithstanding, no Borrower (other than the Borrower Representative) shall be authorized to request any Borrowing hereunder without the prior written consent of the Company. Notwithstanding anything to the contrary under this Agreement, in no event shall LIN be deemed to be a Borrower under this Agreement until after the Acquisition Effective Date.
The Borrower Representative. Each of the entities comprising the Borrower hereby represents and warrants to the Lender that each of them will derive benefits, directly and indirectly, from the proceeds of each Advance and Letter of Credit, both in its separate capacity and as a member of the integrated business to which its belongs. For administrative convenience, IAAC is hereby irrevocably appointed by the Borrower as agent for each of the entities comprising the Borrower for the purpose of requesting Advances and Letters of Credit hereunder from the Lender, receiving the proceeds of Advances and disbursing the proceeds of Advances. In its capacity as such agent, IAAC shall have the power and authority through its authorized officer or officers to (i) endorse any check for the proceeds of any Advance for and on behalf the Borrower and in the name of the Borrower, and (ii) instruct the Lender to credit the proceeds of any Advance directly to a banking account of the Borrower. By reason of the foregoing, the Lender is hereby irrevocably authorized by the Borrower to make Advances to the Borrower and issue Letters of Credit for the account of the Borrower pursuant to this Agreement upon the request of any one of the persons who is authorized to do so under the provisions of any applicable corporate resolutions of IAAC. The Lender assumes no responsibility or liability for any errors, mistakes and/or discrepancies in any oral, telephonic, written or other transmissions of any instructions, orders, requests and confirmations between the Lender and the Borrower in connection with any Advance, Letter of Credit or other transaction pursuant to the provisions of this Agreement, except for acts of gross negligence and/or willful misconduct.
The Borrower Representative. SECTION 11.01. SECTION 11.01.
The Borrower Representative