Agent

In the context of a syndicated facility ( www.practicallaw.com/0-107-7357) , also known as the facility agent or agent bank. The financial institution that acts as agent for a syndicate of lenders in administering the facility with the borrower. After the facility agreement is signed, payments and communications (for example, drawdown ( www.practicallaw.com/7-107-6156) requests and compliance certificates ( www.practicallaw.com/1-382-4305) ) between the borrower and the lenders are made through the agent.

See also agency ( www.practicallaw.com/A35794).

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247245040793", "objName" : "Agent", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/9-107-6377?q=&qp=&qo=&qe=", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2-22b3439a:14da3856469:2f04", "analyticsSessionCookie" : "2-22b3439a:14da3856469:2f05", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }