Common use of Concerning the Collateral Agent and the Authorized Representatives Clause in Contracts

Concerning the Collateral Agent and the Authorized Representatives. Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative Agent, whether on behalf of itself or, in the case of the Administrative Agent, on behalf of any other Credit Agreement Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent pursuant to the authorization thereof under the Credit Agreement. It is understood and agreed that the Collateral Agent and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent for any failure of any other Credit Agreement Secured Party to comply with the terms hereof or for any other Credit Agreement Secured Party taking any action contrary to the terms hereof. Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 4 contracts

Samples: Credit Agreement (Healthsouth Corp), Credit Agreement (Healthsouth Corp), Credit Agreement (Healthsouth Corp)

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Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative AgentTrustee, whether on behalf of itself or, in the case of the Administrative AgentTrustee, on behalf of any other Credit Agreement Indenture Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent Trustee pursuant to the authorization thereof under the Credit AgreementIndenture. It is understood and agreed that the Collateral Agent and the Administrative Agent Trustee shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Indenture Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent Trustee for any failure of any other Credit Agreement Indenture Secured Party to comply with the terms hereof or for any other Credit Agreement Indenture Secured Party taking any action contrary to the terms hereof. . (b) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 2 contracts

Samples: Indenture (Diamond Resorts Parent, LLC), Indenture (Rotech Healthcare Inc)

Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and or the Administrative AgentTrustee, whether on behalf of itself or, in the case of the Administrative AgentTrustee, on behalf of any other Credit Agreement Indenture Secured Party, is made in reliance on the authority granted to the Collateral Agent and or the Administrative Agent Trustee, respectively, pursuant to the authorization thereof under this Agreement and the Credit AgreementIndenture, respectively. It is understood and agreed that the Collateral Agent and the Administrative Agent Trustee shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Indenture Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Pari-Passu Lien Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent Trustee for any failure of any other Credit Agreement Indenture Secured Party to comply with the terms hereof or for any other Credit Agreement Indenture Secured Party taking any action contrary to the terms hereof. . (b) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Pari-Passu Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Pari-Passu Lien Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: Intercreditor Agreement (Vistancia Marketing, LLC)

Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative AgentTrustee, whether on behalf of itself or, in the case of the Administrative AgentTrustee, on behalf of any other Credit Agreement Indenture Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent Trustee pursuant to the authorization thereof under the Credit AgreementIndenture. It is understood and agreed that the Collateral Agent and the Administrative Agent Trustee shall not be responsible for or have any duty to monitor, ascertain or inquire into whether any other Credit Agreement Indenture Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent Trustee for any failure of any other Credit Agreement Indenture Secured Party to comply with the terms hereof or for any other Credit Agreement Indenture Secured Party taking any action contrary to the terms hereof. . (b) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: Indenture (BMC Stock Holdings, Inc.)

Concerning the Collateral Agent and the Authorized Representatives. (i) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative Agent, whether on behalf of itself or, in the case of the Administrative Agent, on behalf of any other Credit Agreement Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent pursuant to the authorization thereof under that certain Amendment No. 2 dated as of October [ ], 2009, among the Credit AgreementCompany, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and certain other parties thereto. It is understood and agreed that the Collateral Agent and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent for any failure of any other Credit Agreement Secured Party to comply with the terms hereof or for any other Credit Agreement Secured Party taking any action contrary to the terms hereof. . (ii) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: Credit Agreement (Healthsouth Corp)

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Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative Agent, whether on behalf of itself or, in the case of the Administrative Agent, on behalf of any other Credit Agreement Secured Party or Secured Swap Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent pursuant to the authorization thereof under the Credit AgreementAgreement and that certain Amendment and Restatement Agreement dated as of December 3, 2009, among the Company, the Parent, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. It is understood and agreed that the Collateral Agent and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Secured Party or Secured Swap Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent for any failure of any other Credit Agreement Secured Party or Secured Swap Party to comply with the terms hereof or for any other Credit Agreement Secured Party or Secured Swap Party taking any action contrary to the terms hereof. . (b) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: First Lien Intercreditor Agreement (American Axle & Manufacturing Holdings Inc)

Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgementacknowledgment, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Original Administrative Agent, whether on behalf of itself or, in the case of the Original Administrative Agent, on behalf of any other Credit Agreement Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Original Administrative Agent pursuant to the authorization thereof under the Credit Agreement. It is understood and agreed that the Collateral Agent and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into whether any other Credit Agreement Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent for any failure of any other Credit Agreement Secured Party to comply with the terms hereof or for any other Credit Agreement Secured Party taking any action contrary to the terms hereof. . (b) Each acknowledgementacknowledgment, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: Intercreditor Agreement (Credit Acceptance Corp)

Concerning the Collateral Agent and the Authorized Representatives. (a) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Collateral Agent and the Administrative AgentTrustee, whether on behalf of itself or, in the case of the Administrative AgentTrustee, on behalf of any other Credit Agreement Indenture Secured Party, is made in reliance on the authority granted to the Collateral Agent and the Administrative Agent Trustee pursuant to the authorization thereof under the Credit AgreementIndenture. It is understood and agreed that the Collateral Agent and the Administrative Agent Trustee shall not be responsible for or have any duty to monitor, ascertain or inquire into whether any other Credit Agreement Indenture Secured Party is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against the Collateral Agent or the Administrative Agent Trustee for any failure of any other Credit Agreement Indenture Secured Party to comply with the terms hereof or for any other Credit Agreement Indenture Secured Party taking any action contrary to the terms hereof. . (b) Each acknowledgement, agreement, consent and waiver (whether express or implied) in this Agreement made by the Authorized Representative of any Class not referred to in paragraph (a) above, whether on behalf of itself or any of its Related Secured Parties, is made in reliance on the authority granted to such Authorized Representative pursuant to the authorization thereof under the First Second Lien Credit Documents of such Class. It is understood and agreed that any such Authorized Representative shall not be responsible for or have any duty to ascertain or inquire into whether any of its Related Secured Parties is in compliance with the terms of this Agreement, and no party hereto or any other Secured Party shall have any right of action whatsoever against such Authorized Representative for any failure of any of its Related Secured Parties to comply with the terms hereof or for any of its Related Secured Parties taking any action contrary to the terms hereof.

Appears in 1 contract

Samples: Indenture (Rotech Healthcare Inc)

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