Common use of Acknowledgements of Lenders and Issuing Banks Clause in Contracts

Acknowledgements of Lenders and Issuing Banks. Each Lender and each Issuing Bank represents and warrants that (i) the Loan(a) Documents set forth the terms of a commercial lending facility, (ii) it is engaged in making, acquiring or holding commercial loans and in providing other facilities set forth herein as may be applicable to such Lender or Issuing Bank, in each case in the ordinary course of its business and that, and not for the purpose of purchasing, acquiring or holding any other type of financial instrument (and each Lender and each Issuing Bank agrees not to assert a claim in contravention of the foregoing), (iii) it has, independently and without reliance upon the Administrative Agent, any Arranger or any other Lender or Issuing Bank, or any 106