Common use of Information Concerning Financial Condition Clause in Contracts

Information Concerning Financial Condition. Each Second Lien Creditor 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 Obligations, and agrees that First Lien Creditors have and shall have no duty to advise any Second Lien Creditor of information known to First Lien Creditors regarding such condition or any such circumstances. In the event that First Lien Creditors, in their sole discretion, undertake, at any time or from time to time, to provide any such information to any Second Lien Creditor, then First Lien Creditors shall not be under any obligation (a) to provide any such information to any Second Lien Creditor on any subsequent occasion, (b) to undertake any investigation, or (c) to disclose any information which, pursuant to its commercial finance practices, First Lien Creditors wish to maintain confidential. Each Second Lien Creditor acknowledges and agrees that First Lien Creditors have not made any warranties or representations with respect to the legality, validity, enforceability, collectibility or perfection of the First Lien Obligations or any liens or security interests held in connection therewith.