Common use of Information Concerning Financial Condition of the Grantors and their Subsidiaries Clause in Contracts

Information Concerning Financial Condition of the Grantors and their Subsidiaries. The First Lien Collateral Agent and the First Lien Claimholders, on the one hand, and the Second Lien Collateral Agent and the Second Lien Claimholders, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Grantors and their Subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First Lien Collateral Agent and the First Lien Claimholders shall have no duty to advise the Second Lien Collateral Agent or any Second Lien Claimholder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Collateral Agent or any of the First Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second Lien Collateral Agent or any Second Lien Claimholder, it or they shall be under no obligation:

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement (Turning Point Brands, Inc.)

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Information Concerning Financial Condition of the Grantors and their Subsidiaries. The First Parity Lien Representatives, the Parity Lien Collateral Agent Agents and the First Parity Lien Claimholders, on the one hand, and the Second Junior Lien Representatives, the Junior Lien Collateral Agent Agents and the Second Junior Lien Claimholders, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Grantors and their Subsidiaries and all endorsers and/or guarantors of the First Parity Lien Obligations or the Second Junior Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Parity Lien Obligations or the Second Junior Lien Obligations. The First Parity Lien Representatives, the Parity Lien Collateral Agent Agents and the First other Parity Lien Claimholders shall have no duty to advise the Second Junior Lien Representatives, the Junior Lien Collateral Agent Agents or any Second other Junior Lien Claimholder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Parity Lien Representatives, the Parity Lien Collateral Agent Agents or any of the First other Parity Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second any Junior Lien Representative, any Junior Lien Collateral Agent or any Second other Junior Lien Claimholder, it or they shall be under no obligation:

Appears in 1 contract

Samples: Intercreditor Agreement (Urban One, Inc.)

Information Concerning Financial Condition of the Grantors and their Subsidiaries. The First Lien Representatives, the First Lien Collateral Agent Agents and the First Lien ClaimholdersSecured Parties, on the one hand, and the Second Lien Representative, the Second Lien Collateral Agent and the Second Lien ClaimholdersSecured Parties, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Grantors and their Subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The Except as set forth in Section 4.1(b), the First Lien Representatives, the First Lien Collateral Agent Agents and the other First Lien Claimholders Secured Parties shall have no duty to advise the Second Lien Representative, the Second Lien Collateral Agent or any other Second Lien Claimholder Secured Party of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Representatives, the First Lien Collateral Agent Agents or any of the other First Lien ClaimholdersSecured Parties, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second Lien Representative, the Second Lien Collateral Agent or any other Second Lien ClaimholderSecured Party, it or they shall be under no obligation:

Appears in 1 contract

Samples: Second Lien Intercreditor Agreement (Ion Geophysical Corp)

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Information Concerning Financial Condition of the Grantors and their Subsidiaries. The First Lien Representatives, the First Lien Collateral Agent Agents and the First Lien Claimholders, on the one hand, and the holders of Second Lien Collateral Agent and the Second Lien ClaimholdersDebt, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Grantors and their Subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First Lien Representatives, the First Lien Collateral Agent Agents and the other First Lien Claimholders shall have no duty to advise the Second Lien Representatives, the Second Lien Collateral Agent Agents or any other Second Lien Claimholder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Representatives, the First Lien Collateral Agent Agents or any of the other First Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the any Second Lien Representative, any Second Lien Collateral Agent or any other Second Lien Claimholder, it or they shall be under no obligation:

Appears in 1 contract

Samples: Intercreditor Agreement (Summit Midstream Partners, LP)

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