Common use of Determinations with Respect to Amounts of Liens and Obligations Clause in Contracts

Determinations with Respect to Amounts of Liens and Obligations. Whenever any Collateral Agent shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any Equal Priority Obligations of any Series, or the Shared Collateral subject to any Lien securing the Equal Priority Obligations of any Series, it may request that such information be furnished to it in writing by each other Collateral Agent and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that (a) any information provided by any Collateral Agent as to the Shared Collateral subject to any Lien securing the Equal Priority Obligations of any Series may be provided to the knowledge of such Collateral Agent and (b) if any Collateral Agent shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Borrower. Each Collateral Agent may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any Equal Priority Secured Party or any other Person as a result of such determination.

Appears in 1 contract

Samples: Equal Priority Intercreditor Agreement (Ww International, Inc.)

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Determinations with Respect to Amounts of Liens and Obligations. Whenever any the Collateral Agent or any Senior Class Debt Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any Equal Priority First Lien Obligations of any Series, or the Shared Collateral subject to any Lien securing the Equal Priority First Lien Obligations of any Series, it may request that such information be furnished to it in writing by each other Collateral Agent Senior Class Debt Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that (a) any information provided by any if the Collateral Agent as to the Shared Collateral subject to or any Lien securing the Equal Priority Obligations of any Series may be provided to the knowledge of such Collateral Agent and (b) if any Collateral Agent Senior Class Debt Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or the requesting Senior Class Debt Representative, as applicable, shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determinedetermine (to the extent such method is permitted under the First Lien Secured Debt Instruments), including by reliance upon a certificate of the Borrower. Each The Collateral Agent and each Senior Class Debt Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any GrantorCredit Party, any Equal Priority First Lien Secured Party or any other Person as a result of such determination.

Appears in 1 contract

Samples: Intercreditor Agreement (Sabine Pass Tug Services, LLC)

Determinations with Respect to Amounts of Liens and Obligations. Whenever any Collateral Agent shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any Equal Priority Obligations of any Series, or the Shared Collateral subject to any Lien securing the Equal Priority Obligations of any Series, it may request that such information be furnished to it in writing by each other Collateral Agent and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that (a) any information provided by any Collateral Agent as to the Shared Collateral subject to any Lien securing the Equal Priority Obligations of any Series may be provided to the knowledge of such Collateral Agent and (b) if any Collateral Agent shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the BorrowerIssuer. Each Collateral Agent may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any Equal Priority Secured Party or any other Person as a result of such determination.

Appears in 1 contract

Samples: Equal Priority Intercreditor Agreement (Velocity Financial, Inc.)

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Determinations with Respect to Amounts of Liens and Obligations. Whenever any Collateral Agent or any Authorized Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any Equal Priority First-Lien Obligations of any Series or any Second-Lien Obligations of any Series, or the Shared Collateral subject to any Lien securing the Equal Priority First-Lien Obligations of any Series or the Second-Lien Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized Representative or Collateral Agent and shall be entitled to make such determination or not make any determination on the basis of the information so furnished; provided, however, that (a) any information provided by any Collateral Agent as to the Shared Collateral subject to any Lien securing the Equal Priority Obligations of any Series may be provided to the knowledge of such Collateral Agent and (b) if any an Authorized Representative or Collateral Agent shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or Authorized Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the BorrowerCompany. Each Collateral Agent and each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to any Grantor, any Equal Priority Secured Party or any other Person person as a result of such determination.

Appears in 1 contract

Samples: Intercreditor Agreement (Walter Energy, Inc.)

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