Common use of Condition of Borrowers Clause in Contracts

Condition of Borrowers. Each Guarantor represents and warrants to the Administrative Agent, for the benefit of the Lenders that: (a) this Guaranty is executed at the request of Borrowers; (b) such Guarantor has established adequate means of obtaining from Borrowers on a continuing basis financial and other information pertaining to the business of each such Borrower; (c) such Guarantor is now and will continue to be adequately familiar with the business, operations, condition, and assets of Borrowers; (d) such Guarantor will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Loan Documents; and (e) the agreements, waivers and acknowledgements contained herein are knowingly made in contemplation of such benefits. Each Guarantor hereby waives and relinquishes any duty on the part of the Administrative Agent or any Lender to disclose to such Guarantor any matter, fact or thing relating to the business, operations, condition, or assets of Borrowers now known or hereafter known by the Administrative Agent or any Lender during the life of this Guaranty. With respect to any of Guaranteed Obligations, neither the Administrative Agent nor any Lender need inquire into the powers of Borrowers or the officers or employees acting or purporting to act on its behalf, and all Guaranteed Obligations made or created in good faith reliance upon the professed exercise of such powers shall be guaranteed hereby.

Condition of Borrowers. Each Guarantor represents and warrants to the Administrative Agent, for the benefit of the Lenders that: (a) this Guaranty is executed at the request of Borrowers; (b) such Guarantor has established adequate means of obtaining from Borrowers on a continuing basis financial and other information pertaining to the business of each such Borrower; (c) such Guarantor is now and will continue to be adequately familiar with the business, operations, condition, and assets of Borrowers; (d) such Guarantor will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Loan Documents; and (e) the agreements, waivers and acknowledgements contained herein are knowingly made in contemplation of such benefits. Each Guarantor hereby waives and relinquishes any duty on the part of the Administrative Agent or any Lender to disclose to such Guarantor Guarantors any matter, fact or thing relating to the business, operations, condition, or assets of Borrowers now known or hereafter known by the Administrative Agent or any Lender during the life of this Guaranty. With respect to any of Guaranteed Obligations, neither the Administrative Agent nor any Lender need inquire into the powers of Borrowers or the officers or employees acting or purporting to act on its behalf, and all Guaranteed Obligations made or created in good faith reliance upon the professed exercise of such powers shall be guaranteed hereby.

Condition of Borrowers. Each Guarantor represents and warrants to the Administrative Agent, for the benefit of the Lenders that: (a) this Guaranty is executed at the request of Borrowers; (b) such Guarantor has established adequate means of obtaining from Borrowers on a continuing basis financial and other information pertaining to the business of each such Borrower; (c) such Guarantor is now and will continue to be adequately familiar with the business, operations, condition, and assets of Borrowers; (d) such Guarantor will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Loan Documents; and (e) the agreements, waivers and acknowledgements contained herein are knowingly made in contemplation of such benefits. Each Guarantor hereby waives and relinquishes any duty on the part of the Administrative Agent or any Lender to disclose to such Guarantor any matter, fact or thing relating to the business, operations, condition, or assets of Borrowers now known or hereafter known by the Administrative Agent or any Lender during the life of this Guaranty. With respect to any of Guaranteed Obligations, neither the Administrative Agent nor any Lender need inquire into the powers of Borrowers or the officers or employees acting or purporting to act on its behalf, and all Guaranteed Obligations made or created in good faith reliance upon the professed exercise of such powers shall be guaranteed hereby.