Common use of Existence and Amount of Liens and Obligations Clause in Contracts

Existence and Amount of Liens and Obligations. Whenever the 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 Secured First Lien Obligations of any Series, or the Collateral subject to any Lien securing the Secured First Lien Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized Representative and shall be entitled to make such determination on the basis of the information so furnished; provided that if an Authorized Representative 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 Company. The 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 Secured First Lien Party or any other person as a result of such determination.

Appears in 3 contracts

Samples: Security Agreement, Security Agreement (Warner Music Group Corp.), Security Agreement (Warner Music Group Corp.)

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Existence and Amount of Liens and Obligations. Whenever the Collateral Administrative 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 Secured First Lien Obligations of any SeriesObligations, or the Collateral subject to any Lien securing the Secured First Lien Obligations of any SeriesObligations, it may request that such information be furnished to it in writing by each other the applicable Authorized Representative and shall be entitled to make such determination on the basis of the information so furnished; provided that if an such Authorized Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Administrative 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 Company. The Collateral Administrative 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 GrantorPledgor, any Secured First Lien Party or any other person as a result of such determination.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (Verso Paper Corp.), Guarantee and Collateral Agreement (Verso Paper Corp.), Credit Agreement (Verso Paper Corp.)

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Existence and Amount of Liens and Obligations. Whenever the Collateral Agent or any Authorized Representative Pledgee 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 Secured First Lien Obligations of any SeriesObligations, or the Collateral subject to any Lien securing the Secured First Lien Obligations of any SeriesObligations, it may request that such information be furnished to it in writing by each other Authorized the applicable Representative and shall be entitled to make such determination on the basis of the information so furnished; provided that if an Authorized such Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or Authorized Representative Pledgee 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 CompanyPledgor. The Collateral Agent and each Authorized Representative Pledgee 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 GrantorPledgor, any Secured First Lien Party or any other person as a result of such determination.

Appears in 1 contract

Samples: Credit Agreement (International Game Technology)

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