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).

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