INFORMATION CONCERNING BORROWER; CREDIT ADMINISTRATION. Subordinated Creditor hereby assumes responsibility for keeping itself informed of the financial condition of Borrower, its subsidiaries and affiliates, any and all endorsers and any and all guarantors of the Senior Debt and of all other circumstances bearing upon the risk of nonpayment of the Senior Debt or the Subordinated Debt that diligent inquiry would reveal, and Subordinated Creditor hereby agrees that Senior Creditor shall not have any duty to advise the Subordinated Creditor of information known to Senior Creditor regarding such condition.
Appears in 3 contracts
Samples: Subordination Agreement (Patient Safety Technologies, Inc), Intercreditor Agreement (Diomed Holdings Inc), Subordination Agreement (Patient Safety Technologies, Inc)
INFORMATION CONCERNING BORROWER; CREDIT ADMINISTRATION. (a) Subordinated Creditor hereby assumes responsibility for keeping itself informed of the financial condition of Borrower, its subsidiaries and affiliates, any and all endorsers and any and all guarantors of the Senior Debt and of all other circumstances bearing upon the risk of nonpayment of the Senior Debt or the Subordinated Debt that diligent inquiry would reveal, and Subordinated Creditor hereby agrees that Senior Creditor shall not have any duty to advise the Subordinated Creditor of information known to Senior Creditor regarding such condition.
Appears in 2 contracts
Samples: Intercreditor and Subordination Agreement (Cyanotech Corp), Subordination Agreement (DecisionPoint Systems, Inc.)
INFORMATION CONCERNING BORROWER; CREDIT ADMINISTRATION. (a) Subordinated Creditor hereby assumes responsibility for keeping itself informed of the financial condition of Borrower, its subsidiaries and affiliates, any and all endorsers and any and all guarantors of the Senior Debt and of all other circumstances bearing upon the risk of nonpayment of the Senior Debt or the Subordinated Debt that diligent inquiry would reveal, and Subordinated Creditor hereby agrees that Senior Creditor Agent or Senior Creditors shall not have any duty to advise the Subordinated Creditor of information known to Senior Creditor Agent or Senior Creditors regarding such condition.
Appears in 1 contract
Samples: Subordination Agreement (PhaseBio Pharmaceuticals Inc)