Common use of Information concerning the Obligors Clause in Contracts

Information concerning the Obligors. (a) The Security Provider represents and warrants to the Collateral Agent and the other Finance Parties that the Security Provider is affiliated with each Obligor or is otherwise in a position to have access to all relevant information bearing on the present and continuing creditworthiness of each Obligor and the risk that any Obligor will be unable to pay the Secured Liabilities when due. (b) The Security Provider waives any requirement that the Collateral Agent or the other Finance Parties advise the Security Provider of information known to the Collateral Agent or any other Finance Party regarding the financial condition or business of any Obligor, or any other circumstance bearing on the risk of non performance of the Secured Liabilities. (c) The Security Provider assumes sole responsibility for keeping itself informed of the financial condition and business of each Obligor.

Appears in 5 contracts

Samples: Security Agreement (Warp Technology Holdings Inc), Security Agreement (Warp Technology Holdings Inc), Security Agreement (Warp Technology Holdings Inc)

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Information concerning the Obligors. (a) The Each Security Provider represents and warrants to the Collateral Security Agent and the other Finance Parties that the such Security Provider is affiliated with each Obligor or is otherwise in a position to have access to all relevant information bearing on the present and continuing creditworthiness of each Obligor and the risk that any Obligor will be unable to pay the Secured Liabilities when due. (b) The Each Security Provider waives any requirement that the Collateral Security Agent or the other Finance Parties advise the such Security Provider of information known to the Collateral Security Agent or any other Finance Party regarding the financial condition or business of any Obligor, or any other circumstance bearing on the risk of non non-performance of the Secured Liabilities. (c) The Each Security Provider assumes sole responsibility for keeping itself informed of the financial condition and business of each Obligor.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Iridium Communications Inc.)

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Information concerning the Obligors. (a) The Each Security Provider represents and warrants to the Collateral Agent Security Trustee and the other Finance Parties that the such Security Provider is affiliated with each other Obligor or is otherwise in a position to have access to all relevant information bearing on the present and continuing creditworthiness of each other Obligor and the risk that any Obligor will be unable to pay the Secured Liabilities when due. (b) The Each Security Provider waives any requirement that the Collateral Agent Security Trustee or the other Finance Parties advise the such Security Provider of information known to the Collateral Agent Security Trustee or any other Finance Party regarding the financial condition or business of any Obligor, or any other circumstance bearing on the risk of non non-performance of the Secured Liabilities. (c) The Each Security Provider assumes sole responsibility for keeping itself informed of the financial condition and business of each other Obligor.

Appears in 1 contract

Samples: Security Agreement (Eagle Bulk Shipping Inc.)

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