Common use of Information Concerning Financial Condition of the Borrower and the other Loan Parties Clause in Contracts

Information Concerning Financial Condition of the Borrower and the other Loan Parties. Each of the Subordinated Creditors and the Senior Agent hereby assume responsibility for keeping itself informed of the financial condition of the Borrower and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the Senior Obligations or the Subordinated Obligations. The Subordinated Creditors and the Senior Agent hereby agree that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances. In the event the Subordinated Creditors or the Senior Agent, in its sole discretion, undertakes at any time or from time to time to provide any information to any other party to this Agreement, it shall be under no obligation (i) to provide any such information to such other party or any other party on any subsequent occasion, (ii) to undertake any investigation not a part of its regular business routine, or (iii) to disclose any other information.

Appears in 2 contracts

Samples: Guarantee and Collateral Agreement (Virgin Mobile USA, Inc.), Patent Security Agreement (Virgin Mobile USA, Inc.)

AutoNDA by SimpleDocs

Information Concerning Financial Condition of the Borrower and the other Loan Parties. Each of the Subordinated Creditors Term Loan Agent and the Senior ABL Agent hereby assume assumes responsibility for keeping itself informed of the financial condition of the Borrower and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the Senior ABL Obligations or the Subordinated Term Loan Obligations. The Subordinated Creditors Term Loan Agent and the Senior ABL Agent hereby agree that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances. In the event the Subordinated Creditors Term Loan Agent or the Senior ABL Agent, in its sole discretion, undertakes at any time or from time to time to provide any information to any other party to this Agreement, it shall be under no obligation (ia) to provide any such information to such other party or any other party on any subsequent occasion, (iib) to undertake any investigation not a part of its regular business routine, or (iiic) to disclose any other information.

Appears in 2 contracts

Samples: Intercreditor Agreement (CDW Finance Corp), Intercreditor Agreement (CDW Corp)

Information Concerning Financial Condition of the Borrower and the other Loan Parties. Each of the Subordinated Creditors Lender and the Senior Agent hereby assume responsibility for keeping itself informed of the financial condition of the Borrower and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the Senior Obligations or the Subordinated Obligations. The Subordinated Creditors Lender and the Senior Agent hereby agree that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances. In the event the Subordinated Creditors Lender or the Senior Agent, in its sole discretion, undertakes at any time or from time to time to provide any information to any other party to this Agreement, it shall be under no obligation (i) to provide any such information to such other party or any other party on any subsequent occasion, (ii) to undertake any investigation not a part of its regular business routine, or (iii) to disclose any other information.

Appears in 2 contracts

Samples: Subordination and Intercreditor Agreement (Hollywood Media Corp), Subordination and Intercreditor Agreement (Hollywood Media Corp)

AutoNDA by SimpleDocs

Information Concerning Financial Condition of the Borrower and the other Loan Parties. Each of the Subordinated Creditors and the Senior Agent hereby assume Secured Parties assumes responsibility for keeping itself informed of the financial condition of the Borrower and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of any of the Senior Obligations or the Subordinated Pari Passu Lien Obligations. The Subordinated Creditors Revolving Agent, the Term Agent and the Senior any Additional Agent hereby agree that no party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances. In the event the Subordinated Creditors Revolving Agent, the Term Agent or the Senior any Additional Agent, in its sole discretion, undertakes at any time or from time to time to provide any information to any other party to this Agreement, it shall be under no obligation (ia) to provide any such information to such other party or any other party on any subsequent occasion, (iib) to undertake any investigation not a part of its regular business routine, or (iiic) to disclose any other information.

Appears in 1 contract

Samples: Passu Intercreditor Agreement (ESH Hospitality, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!