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

Existence and 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 Obligations of any Series, or the Shared Collateral subject to any Lien securing the 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 that 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 Company. 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 Secured Party or any other person as a result of such determination.

Appears in 3 contracts

Samples: Intercreditor Agreement (Claires Stores Inc), First Lien Intercreditor Agreement (Axalta Coating Systems Ltd.), First Lien Intercreditor Agreement (Claires Stores Inc)

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Existence and Amounts of Liens and Obligations. Whenever any the Collateral Agent or any 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 Obligations of any Series, or the Shared Collateral subject to any Lien securing the Obligations of any Series, it may request that such information be furnished to it in writing by each other Collateral Agent Representative and shall be entitled to make such determination on the basis of the information so furnished; provided that if any Collateral Agent Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent or 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 CompanyHoldings. Each The Collateral Agent and each 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 Party or any other person as a result of such determination.

Appears in 1 contract

Samples: First Lien Intercreditor Agreement (RenPac Holdings Inc.)

Existence and Amounts of Liens and Obligations. Whenever any Collateral Agent a 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 Obligations of any SeriesObligations, or the Shared existence of any Lien securing any such Obligations, or the Collateral subject to any Lien securing the Obligations of any Seriessuch Lien, it may request that such information be furnished to it in writing by each the other Collateral Agent Representatives and shall be entitled to make such determination on the basis of the information so furnished; provided provided, however, that if any Collateral Agent a Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Collateral Agent 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 CompanyParent or any other Grantor. Each Collateral Agent Representative may rely conclusively, and shall be he 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 Party or any other person Person as a result of such determination.

Appears in 1 contract

Samples: Intercreditor Agreement (Patheon Inc)

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Existence and 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 Obligations of any Series, or the Shared Collateral subject to any Lien securing the 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 that 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 CompanyBorrower. 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 Secured Party or any other person as a result of of, or constituting, such determination.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

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