Common use of Delegation of Duties; Reliance Clause in Contracts

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 3 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

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Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents Loan Papers by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents Loan Papers by or through their respective Representatives. Administrative Agent, Lenders, Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion Pro Rata Part of the Obligation Principal Debt for all purposes until, subject to Section 14.12, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s portion Pro Rata Part of the Obligation Principal Debt until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents Loan Papers and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not omitted to be taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 3 contracts

Samples: Credit Agreement (Monro, Inc.), Credit Agreement (Monro Muffler Brake Inc), Credit Agreement (Monro Muffler Brake Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 3 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Capital Inc), Credit Agreement (PMC Commercial Trust /Tx)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through their respective Representativesofficers, agents, or other representatives. Administrative Agent, Lenders, and their respective Representatives officers, agents, or other representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an a Potential Default or Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 2 contracts

Samples: Credit Agreement (Malone John C), Revolving Credit Agreement (Malone John C)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, The Credit Parties and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that any Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or any other Loan Document or (ii) any other writing if a specific writing is required by this agreementAgreement or any other Loan Document), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that such Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 2 contracts

Samples: Credit Agreement (Prologis Trust), Credit Agreement (Prologis Trust)

Delegation of Duties; Reliance. The Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through the Administrative Agent, and The Lenders and the Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. The Administrative Agent, The Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of the Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a the Borrower, and (d) are entitled to consult with legal counsel (including counsel for the Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts. Each Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. No Agent shall be responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with reasonable care.

Appears in 2 contracts

Samples: Credit Agreement (Affiliated Computer Services Inc), Credit Agreement (Affiliated Computer Services Inc)

Delegation of Duties; Reliance. The Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through the Administrative Agent, and the Lenders and the Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. The Administrative Agent, Lenders, the Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or that Lender (but nothing in this clause (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, until written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s 's portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of the Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a the Borrower, and (d) are entitled to consult with legal counsel (including counsel for the Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, accountants or experts.

Appears in 2 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that any Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement, or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive CREDIT AGREEMENT and binding on each subsequent holder, assignee, or transferee of or Participant participant in that such Lender’s 's portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless UNLESS a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Delegation of Duties; Reliance. The Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through the Administrative Agent, Agent and the Lenders and the Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. The Administrative Agent, Lenders, the Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or that Lender (but nothing in this clause (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, until written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of the Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a the Borrower, and (d) are entitled to consult with legal counsel (including counsel for the Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, accountants or experts.

Appears in 1 contract

Samples: Term Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (aA) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. The Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through the Administrative Agent, and the Lenders and the Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. The Administrative Agent, Lenders, the Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or Agent, that Lender (but nothing in this clause (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, until written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s 's portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of the Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a the Borrower, and (d) are entitled to consult with legal counsel (including counsel for the Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, Borrower and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts. In this regard, each Lender acknowledges that Xxxxxx & Xxxxxx L.L.P. is acting in this transaction as special counsel to the Arranger only in respect of the Senior Revolving Credit Agreement, except to the extent otherwise expressly stated in any legal opinion or any Loan Document. Each other party hereto will consult with its own legal counsel to the extent that it deems necessary in connection with the Loan Documents and the matters contemplated therein.

Appears in 1 contract

Samples: Term Loan Agreement (Goodrich Petroleum Corp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (aA) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative any Agent, and Lenders and Administrative any Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Each Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative such Agent or that Lender (but nothing in this clause CLAUSE (aA) permits Administrative any Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of Administrative such Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative such Agent has been notified by a Lender or a BorrowerBorrowers, and (d) are entitled to consult with legal counsel (including counsel for BorrowerBorrowers), 52 independent accountants, and other experts selected by Administrative such Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative any Agent, and Lenders and Administrative any Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Each Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative such Agent or that Lender (but nothing in this clause CLAUSE (aA) permits Administrative any Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of Administrative such Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative such Agent has been notified by a Lender or a BorrowerBorrowers, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative such Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, accountants and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, accountants or experts.. FIRST AMENDED AND RESTATED CREDIT AGREEMENT Page 65 AMERICAN NATIONAL BANK and HARRXX XXXK -- ULTRAK OPERATING, L.P. 78

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents Loan Papers by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents Loan Papers by or through their respective Representatives. Administrative Agent, Lenders, Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion Pro Rata Part of the Obligation Principal Debt for all purposes until, subject to SECTION 14.12, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s portion 's Pro Rata Part of the Obligation Principal Debt until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents Loan Papers and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not omitted to be taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Monro Muffler Brake Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, The Credit Parties and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that any Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or any other Loan Document or (ii) any other writing if a specific writing is required by this agreementAgreement or any other Loan Document), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that such Lender’s =s portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for BorrowerBorrowers), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

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Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that any Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement, or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant participant in that such Lender’s 's portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless UNLESS a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that any Lender (but nothing in this clause CLAUSE (aA) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that such Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.. CREDIT AGREEMENT 39

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (aA) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through the Administrative Agent, and Lenders and the Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. The Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer Responsible Officer of the Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, Borrower and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts. In this regard, each Lender acknowledges that Vxxxxx & Exxxxx L.L.P. is acting in this transaction as special counsel to the Arranger only in respect of the Senior Revolving Credit Agreement, except to the extent otherwise expressly stated in any legal opinion or any Loan Document. Each other party hereto will consult with its own legal counsel to the extent that it deems necessary in connection with the Loan Documents and the matters contemplated therein.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Loan Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of a Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Loan Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, Borrower and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts. Each Lender acknowledges that Xxxxxx & Xxxxxx L.L.P. is acting in this transaction as special counsel to Administrative Agent only, except to the extent otherwise expressly stated in any legal opinion or any Loan Document. Each other party hereto will consult with its own legal counsel to the extent that it deems necessary in connection with the Loan Documents and the matters contemplated therein.

Appears in 1 contract

Samples: Credit Agreement (Goodrich Petroleum Corp)

Delegation of Duties; Reliance. The Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through the Administrative Agent, and the Lenders and the 49 Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. The Administrative Agent, Lenders, the Lenders and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by the Administrative Agent or Agent, that Lender (but nothing in this clause (a) permits the Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation Obligations for all purposes until, until written notice of the assignment or transfer is given to and received by the Administrative Agent (and any request, authorization, consent, consent or approval of any Lender is conclusive and binding on each subsequent holder, assignee, assignee or transferee of or Participant in that Lender’s 's portion of the Obligation Obligations until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of the Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or the Administrative Agent has been notified by a Lender or a the Borrower, and (d) are entitled to consult with legal counsel (including counsel for the Borrower), independent accountants, and other experts selected by the Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause CLAUSE (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement Agreement or (ii) any other writing if a specific writing is required by this agreementAgreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Ultrak Inc)

Delegation of Duties; Reliance. Lenders may perform any of their duties or exercise any of their Rights under the Credit Documents by or through Administrative Agent, and Lenders and Administrative Agent may perform any of their duties or exercise any of their Rights under the Credit Documents by or through their respective Representatives. Administrative Agent, Lenders, and their respective Representatives (a) are entitled to rely upon (and shall be protected in relying upon) any written or oral statement believed by it or them to be genuine and correct and to have been signed or made by the proper Person and, with respect to legal matters, upon opinion of counsel selected by Administrative Agent or that Lender (but nothing in this clause (a) permits Administrative Agent to rely on (i) oral statements if a writing is required by this agreement or (ii) any other writing if a specific writing is required by this agreement), (b) are entitled to deem and treat each Lender as the owner and holder of its portion of the Obligation for all purposes until, until written notice of the assignment or transfer is given to and received by Administrative Agent (and any request, authorization, consent, or approval of any Lender is conclusive and binding on each subsequent holder, assignee, or transferee of or Participant in that Lender’s 's portion of the Obligation until that notice is given and received), (c) are not deemed to have notice of the occurrence of an Event of Default unless a responsible officer of Administrative Agent, who handles matters associated with the Credit Documents and transactions thereunder, has actual knowledge or Administrative Agent has been notified by a Lender or a Borrower, and (d) are entitled to consult with legal counsel (including counsel for Borrower), independent accountants, and other experts selected by Administrative Agent and are not liable for any action taken or not taken in good faith by it in accordance with the advice of counsel, accountants, or experts.

Appears in 1 contract

Samples: Credit Agreement (Pier 1 Imports Inc/De)

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