Common use of Financial Condition of Parent Borrower Clause in Contracts

Financial Condition of Parent Borrower. Any Term Loans may be continued from time to time without notice to or authorization from any Guarantor regardless of the financial or other condition of Parent Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of Parent Borrower. Each Guarantor has adequate means to obtain information from Parent Borrower on a continuing basis concerning the financial condition of Parent Borrower and its ability to perform their obligations under the Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Parent Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Parent Borrower now known or hereafter known by any Beneficiary.