Information Concerning Financial Condition. Each of Second Lien Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, and agrees that First Lien Agent, First Lien Co-Agent and the First Lien Lenders have and shall have no duty to advise Second Lien Agent or any Second Lien Lender of information known to First Lien Agent, First Lien Co-Agent or any First Lien Lender regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or any First Lien Lender, in their sole discretion, undertake, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Agent, First Lien Co-Agent or the First Lien Lenders shall be under any obligation (i) to provide any such information to Second Lien Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender wishes to maintain confidential. Second Lien Agent, on behalf of itself and the Second Lien Lenders, acknowledges and agrees that none of First Lien Agent, First Lien Co-Agent or any First Lien Lender has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness or any liens or security interests held in connection therewith.
Appears in 4 contracts
Samples: Support Agreement (Salton Inc), Support Agreement (Salton Inc), Intercreditor Agreement (Salton Inc)
Information Concerning Financial Condition. (a) Each Senior Agent, for itself and on behalf of Second Lien Agent and each Second Lien Lender the other applicable Senior Claimholders, hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, Senior Obligations and agrees that First Lien Agent, First Lien Co-the Subordinated Agent and the First Lien Lenders have has and shall have no duty to advise Second Lien Senior Agent or any Second Lien Lender other Senior Claimholder of information known to First Lien Agent, First Lien Co-the Subordinated Agent or any First Lien Lender other Subordinated Claimholder regarding such condition or any such circumstances. In the event First Lien that the Subordinated Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien any Senior Agent or any other Senior Claimholder, then the Second Lien Lenders, none of First Lien Agent, First Lien Co-Subordinated Agent or the First Lien Lenders shall not be under any obligation (i) to provide any such information to Second Lien any Senior Agent or Second Lien Lenders any other Senior Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-the Subordinated Agent or any First Lien Lender wishes to maintain confidential. Second Lien Each Senior Agent, on behalf of for itself and the Second Lien Lendersother applicable Senior Claimholders, acknowledges and agrees that none of First Lien Agent, First Lien Co-neither the Subordinated Agent or nor any First Lien Lender other Subordinated Claimholder has made any warranties or representations with respect to the legality, validity, enforceability, collectability collectibility or perfection of the First Lien Indebtedness Subordinated Obligations or any liens or security interests held in connection therewith.
(b) The Subordinated Agent, for itself and on behalf of the other Senior Claimholders, hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Subordinated Obligations, and agrees that the Senior Agents have and shall have no duty to advise the Subordinated Agent or any other Subordinated Claimholder of information known to any Senior Agent or any Senior Claimholder regarding such condition or any such circumstances. In the event that any Senior Agent, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to the Subordinated Agent or any Subordinated Claimholder, then such Senior Agent shall not be under any obligation (i) to provide any such information to the Subordinated Agent or any other Subordinated Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, such Senior Agent wishes to maintain confidential. The Subordinated Agent, for itself and on behalf of the other Subordinated Claimholders, acknowledges and agrees that none of the Senior Agents nor any other Senior Claimholders has made any warranties or representations with respect to the legality, validity, enforceability, collectibility or perfection of the Senior Obligations or any liens or security interests held in connection therewith.
Appears in 2 contracts
Samples: Senior Revolving Credit Agreement (Bumble Bee Capital Corp.), Senior Term Loan Credit Agreement (Bumble Bee Capital Corp.)
Information Concerning Financial Condition. Each 5.1 The Senior Agent, for itself and on behalf of Second Lien Agent and each Second Lien Lender the Senior Lenders, hereby assumes responsibility for keeping itself informed of the financial condition of Obligors any Loan Party and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, Senior Debt and agrees that First Lien Agent, First Lien Co-Agent and the First Lien Lenders Subordinated Creditors have and shall have no duty to advise Second Lien the Senior Agent or any Second Lien Senior Lender of information known to First Lien Agent, First Lien Co-Agent or any First Lien Lender a Subordinated Creditor regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or any First Lien Lenderthat a Subordinated Creditor, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien the Senior Agent or the Second Lien Lendersany Senior Lender, none of First Lien Agent, First Lien Co-Agent or the First Lien Lenders then such Subordinated Creditor shall not be under any obligation (i) to provide any such information to Second Lien Agent or Second Lien Lenders any other Senior Creditor on any subsequent occasion, (ii) to undertake any investigation, investigation or (iii) to disclose any information which, pursuant to its their commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender such Subordinated Creditor wishes to maintain confidential. Second Lien The Senior Agent, on behalf of for itself and the Second Lien Senior Lenders, acknowledges and agrees that none no Subordinated Creditor has made any warranties or representations with respect to the legality, validity, enforceability or collectibility of First Lien the Subordinated Debt.
5.2 Each Subordinated Creditor hereby assumes responsibility for keeping itself informed of the financial condition of the Loan Parties and of all other circumstances bearing upon the risk of nonpayment of the Subordinated Debt, and agrees that the Senior Agent has and shall have no duty to advise any Subordinated Creditor of information known to any Senior Creditor regarding such condition or any such circumstances. In the event that the Senior Agent, First Lien Co-in its sole discretion, undertakes, at any time or from time to time, to provide any such information to a Subordinated Creditor, then the Senior Agent shall not be under any obligation (i) to undertake any investigation or (ii) to disclose any First Lien Lender information which, pursuant to its commercial finance practices the Senior Agent wishes to maintain confidential. Each Subordinated Creditor acknowledges and agrees that no Senior Creditor has made any warranties or representations with respect to the legality, validity, enforceability, collectability collectibility or perfection of the First Lien Indebtedness Senior Debt or any liens Liens or security interests held in connection therewith.
Appears in 2 contracts
Samples: Subordination Agreement, Subordination Agreement (LIVE VENTURES Inc)
Information Concerning Financial Condition. Each (a) The Senior Agent, for itself and on behalf of Second Lien Agent and each Second Lien Lender the other Senior Claimholders, hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, Senior Obligations and agrees that First Lien Agent, First Lien Co-the Subordinated Agent and the First Lien Lenders have has and shall have no duty to advise Second Lien Senior Agent or any Second Lien Lender other Senior Claimholder of information known to First Lien Agent, First Lien Co-the Subordinated Agent or any First Lien Lender other Subordinated Claimholder regarding such condition or any such circumstances. In the event First Lien that the Subordinated Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien the Senior Agent or any other Senior Claimholder, then the Second Lien Lenders, none of First Lien Agent, First Lien Co-Subordinated Agent or the First Lien Lenders shall not be under any obligation (i) to provide any such information to Second Lien the Senior Agent or Second Lien Lenders any other Senior Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-the Subordinated Agent or any First Lien Lender wishes to maintain confidential. Second Lien The Senior Agent, on behalf of for itself and the Second Lien Lendersother Senior Claimholders, acknowledges and agrees that none of First Lien Agent, First Lien Co-neither the Subordinated Agent or nor any First Lien Lender other Subordinated Claimholder has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness Subordinated Obligations or any liens or security interests held in connection therewith.
(b) Each Subordinated Claimholder hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Subordinated Obligations, and agrees that the Senior Agent has and shall have no duty to advise the Subordinated Agent or any other Subordinated Claimholder of information known to the Senior Agent or any Senior Claimholder regarding such condition or any such circumstances. In the event that the Senior Agent, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to the Subordinated Agent or any Subordinated Claimholder, then the Senior Agent shall not be under any obligation (i) to provide any such information to the Subordinated Agent or any other Subordinated Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, the Senior Agent wishes to maintain confidential. Each Subordinated Claimholder acknowledges and agrees that neither the Senior Agent nor any other Senior Claimholders has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Senior Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Subordination and Intercreditor Agreement (Nuverra Environmental Solutions, Inc.)
Information Concerning Financial Condition. Each of a. Second Lien Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, and agrees that First Lien Agent, First Lien Co-Agent and the First Lien Lenders have and shall have no duty to advise Second Lien Agent or any Second Lien Lender Lenders of information known to First Lien Agent, Agent or First Lien Co-Agent or any First Lien Lender Lenders regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Agent, First Lien Co-Agent or the and First Lien Lenders shall be under any no obligation (i) to provide any such information to Second Lien Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender wishes to maintain confidential. Second Lien Agent, on behalf of itself and the Second Lien Lenders, Agent acknowledges and agrees that none of First Lien Agent, Agent and First Lien Co-Agent or any First Lien Lender has Lenders have made any no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness or any liens or security interests held in connection therewith.
b. First Lien Agent hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other circumstances bearing upon the risk of nonpayment of the First Lien Indebtedness, and agrees that Second Lien Agent and Second Lien Lenders shall have no duty to advise First Lien Agent or First Lien Lenders of information known to Second Lien Agent or Second Lien Lenders regarding such condition or any such circumstances. In the event Second Lien Agent or any Second Lien Lender, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to First Lien Agent or First Lien Lenders, Second Lien Agent and Second Lien Lenders shall be under no obligation (i) to provide any such information to First Lien Agent or First Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Second Lien Agent or any Second Lien Lender wishes to maintain confidential. First Lien Agent acknowledges and agrees that Second Lien Agent and Second Lien Lenders have made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Second Lien Indebtedness or any liens or security interests held in connection therewith.
Appears in 1 contract
Information Concerning Financial Condition. Each of a. The Second Lien Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, and agrees that the First Lien Agent, First Lien Co-Agent and the First Lien Lenders have and shall have no duty to advise the Second Lien Agent or any the Second Lien Lender Lenders of information known to the First Lien Agent, Agent or the First Lien Co-Agent or any First Lien Lender Lenders regarding such condition or any such circumstances. In the event the First Lien Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to the Second Lien Agent or the Second Lien Lenders, none of the First Lien Agent, First Lien Co-Agent or and the First Lien Lenders shall be under any no obligation (i) to provide any such information to the Second Lien Agent or the Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, the First Lien Agent, First Lien Co-Agent or any First Lien Lender wishes to maintain confidential. The Second Lien Agent, on behalf of itself and the Second Lien Lenders, Agent acknowledges and agrees that none of the First Lien Agent, Agent and the First Lien Co-Agent or any First Lien Lender has Lenders have made any no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness or any liens or security interests held in connection therewith.
b. The First Lien Agent hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the First Lien Indebtedness, and agrees that the Second Lien Agent and the Second Lien Lenders shall have no duty to advise the First Lien Agent or the First Lien Lenders of information known to the Second Lien Agent or the Second Lien Lenders regarding such condition or any such circumstances. In the event the Second Lien Agent or any Second Lien Lender, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to the First Lien Agent or the First Lien Lenders, the Second Lien Agent and the Second Lien Lenders shall be under no obligation (i) to provide any such information to the First Lien Agent or the First Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, the Second Lien Agent or any Second Lien Lender wishes to maintain confidential. The First Lien Agent acknowledges and agrees that the Second Lien Agent and the Second Lien Lenders have made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Second Lien Indebtedness or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor Agreement (Oxford Resource Partners LP)
Information Concerning Financial Condition. Each (a) Senior Agent, for itself and on behalf of Second Lien Agent and each Second Lien Lender the other Senior Claimholders, hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, Senior Obligations and agrees that First Lien Agent, First Lien Co-Agent and the First Lien Lenders have no Subordinated Creditor has and shall have no any duty to advise Second Lien Senior Agent or any Second Lien Lender other Senior Claimholder of information known to First Lien Agent, First Lien Co-Agent such Subordinated Creditor or any First Lien Lender other Subordinated Claimholder regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or that any First Lien LenderSubordinated Creditor, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien Senior Agent or the Second Lien Lendersany other Senior Claimholder, none of First Lien Agent, First Lien Co-Agent or the First Lien Lenders then such Subordinated Creditor shall not be under any obligation (i) to provide any such information to Second Lien Senior Agent or Second Lien Lenders any other Senior Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender such Subordinated Creditor wishes to maintain confidential. Second Lien Senior Agent, on behalf of for itself and the Second Lien Lendersother Senior Claimholders, acknowledges and agrees that none of First Lien Agent, First Lien Co-Agent the Subordinated Creditors or any First Lien Lender other Subordinated Claimholder has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness Subordinated Obligations or any liens or security interests held in connection therewith.
(b) Each Subordinated Claimholder hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Subordinated Obligations, and agrees that Senior Agent has and shall have no duty to advise any Subordinated Creditor or any other Subordinated Claimholder of information known to Senior Agent or any other Senior Claimholder regarding such condition or any such circumstances. In the event that Senior Agent, in its sole discretion or on behalf of the requisite Senior Creditors, undertakes, at any time or from time to time, to provide any such information to any Subordinated Creditor or any other Subordinated Claimholder, then Senior Agent shall not be under any obligation (i) to provide any such information to any Subordinated Creditor or any other Subordinated Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, the Senior Creditors wishes to maintain confidential. Each Subordinated Claimholder acknowledges and agrees that neither Senior Agent nor any other Senior Claimholders has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Senior Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (Global Telecom & Technology, Inc.)
Information Concerning Financial Condition. Each of Second Junior Lien Agent and each Second Junior Lien Lender is responsible and hereby assumes responsibility for keeping itself informed of the financial condition of Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Junior Lien Indebtedness, and agrees that First Lien Agent, First Lien Co-Agent and the First Lien Lenders have and shall have no duty to advise Second any Junior Lien Agent or any Second Junior Lien Lender of information known to First Lien Agent, First Lien Co-Agent or any First Lien Lender regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or any First Lien Lender, in their sole discretion, undertake, at any time or from time to time, to provide any such information to Second any Junior Lien Agent or any of the Second Junior Lien Lenders, none of First Lien Agent, First Lien Co-Agent or the First Lien Lenders shall be under any obligation (i) to provide any such information to Second any other Junior Lien Agent or Second any other Junior Lien Lenders Lender or on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender wishes to maintain confidential. Second Each Junior Lien Agent, on behalf of itself and the Second Junior Lien LendersLenders for which it is agent, acknowledges and agrees that none of First Lien Agent, First Lien Co-Agent or any First Lien Lender has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor Agreement (Salton Inc)
Information Concerning Financial Condition. Each of Second Lien (a) Collateral Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien IndebtednessIndenture Secured Obligations, and agrees that First Lien Agent, First Lien Co-neither XX Xxxx'x Agent and the First Lien Lenders have nor Senior Agent has and shall have no duty to advise Second Lien Collateral Agent or any Second Lien Lender of information known to First Lien Agent, First Lien Co-XX Xxxx'x Agent or any First Lien Lender Senior Agent regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-XX Xxxx'x Agent or any First Lien LenderSenior Agent, in their sole discretion, undertake, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Collateral Agent, First Lien Co-neither XX Xxxx'x Agent or the First Lien Lenders nor Senior Agent shall be under any obligation (i) to provide any such information to Second Lien Collateral Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien XX Xxxx'x Agent or Senior Agent, First Lien Co-Agent or any First Lien Lender as applicable, wishes to maintain confidential. Second Lien Agent, on behalf of itself and the Second Lien Lenders, Collateral Agent acknowledges and agrees that none of First Lien Agent, First Lien Co-neither XX Xxxx'x Agent or any First Lien Lender Senior Agent has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness XX Xxxx'x Credit Agreement Secured Obligations, the Credit Agreement Secured Obligations or any liens or security interests held in connection therewith.
(b) XX Xxxx'x Agent hereby assumes responsibility for keeping itself informed of the financial condition of the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the XX Xxxx'x Credit Agreement Secured Obligations, and agrees that neither the Collateral Agent nor the Senior Agent has and shall have no duty to advise XX Xxxx'x Agent of information known to Collateral Agent or the Senior Agent regarding such condition or any such circumstances. In the event Collateral Agent or Senior Agent, in their sole discretion, undertake, at any time or from time to time, to provide any such information to XX Xxxx'x Agent, neither Collateral Agent nor Senior Agent, as applicable, shall be under any obligation (i) to provide any such information to XX Xxxx'x Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Collateral Agent or Senior Agent, as applicable, wishes to maintain confidential. XX Xxxx'x Agent acknowledges and agrees that neither Collateral Agent nor Senior Agent has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Indenture Secured Obligations, the Credit Agreement Secured Obligations or any liens or security interests held in connection therewith.
(c) Senior Agent hereby assumes responsibility for keeping itself informed of the financial condition of the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Credit Agreement Secured Obligations, and agrees that neither XX Xxxx'x Agent nor Collateral Agent has and shall have no duty to advise Senior Agent of information known to XX Xxxx'x Agent or Collateral Agent regarding such condition or any such circumstances. In the event XX Xxxx'x Agent or Collateral Agent, in their sole discretion, undertake, at any time or from time to time, to provide any such information to Senior Agent, neither XX Xxxx'x Agent nor Collateral Agent shall be under any obligation (i) to provide any such information to Senior Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, XX Xxxx'x Agent or Collateral Agent, as applicable, wishes to maintain confidential. Senior Agent acknowledges and agrees that neither XX Xxxx'x Agent nor Collateral Agent has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the XX Xxxx'x Credit Agreement Secured Obligations, the Indenture Secured Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor and Lien Subordination Agreement (TB Wood's INC)
Information Concerning Financial Condition. Each of Second Lien (a) Collateral Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien IndebtednessIndenture Secured Obligations, and agrees that First Lien Agent, First Lien Co-Senior Agent and the First Lien Lenders have has and shall have no duty to advise Second Lien Collateral Agent or any Second Lien Lender of information known to First Lien Agent, First Lien Co-Senior Agent or any First Lien Lender regarding such condition or any such circumstances. In the event First Lien Senior Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Collateral Agent, First Lien Co-Senior Agent or the First Lien Lenders shall be under any no obligation (i) to provide any such information to Second Lien Collateral Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Senior Agent or any First Lien Lender wishes to maintain confidential. Second Lien Agent, on behalf of itself and the Second Lien Lenders, Collateral Agent acknowledges and agrees that none of First Lien Agent, First Lien Co-Senior Agent or any First Lien Lender has made any no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness Credit Agreement Secured Obligations or any liens or security interests held in connection therewith.
(b) Senior Agent hereby assumes responsibility for keeping itself informed of the financial condition of the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Credit Agreement Secured Obligations, and agrees that Collateral Agent has and shall have no duty to advise Senior Agent of information known to Collateral Agent regarding such condition or any such circumstances. In the event Collateral Agent, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to Senior Agent, Collateral Agent shall be under no obligation (i) to provide any such information to Senior Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Collateral Agent wishes to maintain confidential. Senior Agent acknowledges and agrees that Collateral Agent has made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Indenture Secured Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor and Lien Subordination Agreement (Boston Gear LLC)
Information Concerning Financial Condition. Each of Second Lien (a) Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien Indebtedness, Senior Obligations and agrees that First Lien Agent, First Lien Co-Agent Subordinated Creditor and the First Lien Lenders other Subordinated Claimholders have and shall have no duty to advise Second Lien Agent or any Second Lien Lender Senior Claimholder of information known to First Lien Agent, First Lien Co-Agent Subordinated Creditor or any First Lien Lender other Subordinated Claimholder regarding such condition or any such circumstances. In the event First Lien Agent, First Lien Co-Agent or any First Lien Lenderthat Subordinated Claimholder, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Agent, First Lien Co-Agent or the First Lien Lenders then such Subordinated Claimholder shall not be under any obligation (i) to provide any such information to Second Lien Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-Agent or any First Lien Lender such Subordinated Claimholder wishes to maintain confidential. Second Lien Agent, on behalf of for itself and the Second Lien Lendersother Senior Creditors, acknowledges and agrees that none of First Lien Agent, First Lien Co-Agent or neither Subordinated Creditor nor any First Lien Lender other Subordinated Claimholder has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness Subordinated Obligations or any liens or security interests held in connection therewith.
(b) Each Subordinated Claimholder hereby assumes responsibility for keeping itself informed of the financial condition of the Obligors and of all other circumstances bearing upon the risk of nonpayment of the Subordinated Obligations, and agrees that no Senior Creditor has and no Senior Creditor shall have any duty to advise Subordinated Creditor or any other Subordinated Claimholder of information known to any Senior Claimholder regarding such condition or any such circumstances. In the event that Senior Creditors, in their sole discretion, undertake, at any time or from time to time, to provide any such information to Subordinated Creditor or any Subordinated Claimholder, then Senior Creditors shall not be under any obligation (i) to provide any such information to Subordinated Creditor or any other Subordinated Claimholder on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, Senior Creditors wish to maintain confidential. Each Subordinated Claimholder acknowledges and agrees that no Senior Claimholder has made any warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Senior Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor and Subordination Agreement (Layne Christensen Co)
Information Concerning Financial Condition. Each of Second Lien (a) The Collateral Agent and each Second Lien Lender hereby assumes responsibility for keeping itself informed of the financial condition of Obligors Parent, the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Second Lien IndebtednessIndenture Secured Obligations, and agrees that First Lien Agent, First Lien Co-the Senior Agent and the First Lien Lenders have has and shall have no duty to advise Second Lien the Collateral Agent or any Second Lien Lender of information known to First Lien Agent, First Lien Co-the Senior Agent or any First Lien Lender regarding such condition or any such circumstances. In the event First Lien the Senior Agent, First Lien Co-Agent or any First Lien Lender, in their its sole discretion, undertakeundertakes, at any time or from time to time, to provide any such information to Second Lien Agent or the Second Lien Lenders, none of First Lien Collateral Agent, First Lien Co-the Senior Agent or the First Lien Lenders shall be under any no obligation (i) to provide any such information to Second Lien the Collateral Agent or Second Lien Lenders on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, First Lien Agent, First Lien Co-the Senior Agent or any First Lien Lender wishes to maintain confidential. Second Lien Agent, on behalf of itself and the Second Lien Lenders, The Collateral Agent acknowledges and agrees that none of First Lien Agent, First Lien Co-the Senior Agent or any First Lien Lender has made any no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the First Lien Indebtedness Credit Agreement Secured Obligations or any liens or security interests held in connection therewith.
(b) The Senior Agent hereby assumes responsibility for keeping itself informed of the financial condition of Parent, the Borrowers and Guarantors and of all other circumstances bearing upon the risk of nonpayment of the Credit Agreement Secured Obligations, and agrees that the Collateral Agent has and shall have no duty to advise the Senior Agent of information known to the Collateral Agent regarding such condition or any such circumstances. In the event the Collateral Agent, in its sole discretion, undertakes, at any time or from time to time, to provide any such information to the Senior Agent, the Collateral Agent shall be under no obligation (i) to provide any such information to the Senior Agent on any subsequent occasion, (ii) to undertake any investigation, or (iii) to disclose any information which, pursuant to its commercial finance practices, the Collateral Agent wishes to maintain confidential. The Senior Agent acknowledges and agrees that the Collateral Agent has made no warranties or representations with respect to the legality, validity, enforceability, collectability or perfection of the Indenture Secured Obligations or any liens or security interests held in connection therewith.
Appears in 1 contract
Samples: Intercreditor and Lien Subordination Agreement (Altra Holdings, Inc.)