Common use of Instructions; No Liability Clause in Contracts

Instructions; No Liability. Instructions (whether by oral, telephone, facsimile, electronic or other means) may be honored by the Bank when received from anyone purporting to be authorized to give such instructions for the Applicant, and the Bank shall have no obligation to independently verify the due authorization or accuracy of any such instructions. The Applicant agrees to furnish the Bank with written confirmation of each such instruction signed by the person giving such instruction, or other authorized officer, but the Bank’s responsibility with respect to any instruction shall not be affected by its failure to receive, or the content of, such confirmation. The Bank shall have no responsibility to notify the Applicant of any discrepancies between the Applicant’s instructions and its written confirmation or its non-receipt of any confirmation. The Bank shall be fully protected in, and shall incur no liability to the Applicant for, acting upon any oral, telephone, teleprocess or other instruction which the Bank in good faith shall believe to have been given by any authorized person. The Bank also may, at its option, refuse to act on any oral, telephone, teleprocess or other instruction or any part thereof, without incurring any responsibility for any claim, cost, loss, liability or damage arising out of such refusal.

Appears in 2 contracts

Samples: Letter of Credit Reimbursement Agreement, Letter of Credit Reimbursement Agreement (Pacific Drilling S.A.)

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Instructions; No Liability. Instructions Instructions, whether given orally (whether in person or by oraltelephone), telephone, facsimile, electronic in writing (by teletransmission or other means) or by electronic means may be honored by the Bank when received from anyone purporting to be authorized to give such instructions for the Applicant, and the Bank . Each oral instruction shall have no obligation to independently verify the due authorization or accuracy of any such instructions. The Applicant agrees to furnish the Bank with written confirmation of each such instruction signed be confirmed in writing by the person giving such instruction, or other authorized officer, but the Bank’s 's responsibility with respect to any instruction shall not be affected by its failure to receive, or the content of, such confirmation. The Bank shall have no responsibility to notify the Applicant of any discrepancies between the Applicant’s 's oral instructions and its written confirmation or its non-receipt confirmation, and in the event of any confirmationsuch discrepancy, the oral instructions shall govern. The Bank bank shall be fully protected in, and shall incur no liability to the Applicant for, acting upon any oral, telephone, teleprocess written or other instruction electronic instructions which the Bank in good faith shall believe believes to have been given by any authorized person, and in no event shall the Bank be liable for special, indirect or consequential damages. The Bank may, at its option, use any means of verifying any instructions received by it. The Bank also may, at its option, refuse to act on any oral, telephone, teleprocess or other instruction or any part thereof, without incurring any responsibility for any claim, cost, loss, liability or damage expense arising out of such refusal.

Appears in 1 contract

Samples: Credit Agreement (Univision Communications Inc)

Instructions; No Liability. Instructions whether given orally (whether in person or by oraltelephone), telephone, facsimile, electronic in writing (by teletransmission or other means) or by electronic means may be honored by the Bank when received from anyone purporting to be authorized to give such instructions for the Applicant, and the Bank . Each oral instruction shall have no obligation to independently verify the due authorization or accuracy of any such instructions. The Applicant agrees to furnish the Bank with written confirmation of each such instruction signed be confirmed in writing by the person giving such instruction, or other authorized officer, but the Bank’s 's responsibility with respect to any instruction shall not be affected effected by its failure to receive, or the content of, such confirmation. The Bank shall have no responsibility to notify the Applicant of any discrepancies between the Applicant’s 's oral instructions and its written confirmation or its non-receipt confirmation, and in the event of any confirmationsuch discrepancy, the oral instructions shall govern. The Bank shall be fully protected in, and shall incur no liability to the Applicant for, acting upon any oral, telephone, teleprocess written or other instruction electronic instructions which the Bank in good faith shall believe believes to have been given by any authorized person, and in no event shall the Bank be liable for special, indirect or consequential damages. The Bank may, at its option, use any means of verifying any instructions received by it. The Bank also may, at its option, use any means of verifying any instructions received by it. The Bank also may, at its option, refuse to act on any oral, telephone, teleprocess or other instruction or any part thereof, without incurring any responsibility for any claim, cost, loss, liability or damage expense arising out of such refusal.

Appears in 1 contract

Samples: Credit Agreement (Univision Communications Inc)

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Instructions; No Liability. Instructions whether given orally (whether in person or by oraltelephone), telephone, facsimile, electronic in writing (by teletransmission or other means) or by electronic means may be honored by the Bank when received from anyone purporting to be authorized to give such instructions for the Applicant, and the Bank . Each oral instruction shall have no obligation to independently verify the due authorization or accuracy of any such instructions. The Applicant agrees to furnish the Bank with written confirmation of each such instruction signed be confirmed in writing by the person giving such instruction, or other authorized officer, but the Bank’s 's responsibility with respect to any instruction shall not be affected by its failure to receive, or the content of, such confirmation. The Bank shall have no responsibility to notify the Applicant of any discrepancies between the Applicant’s 's oral instructions and its written confirmation or its non-receipt confirmation, and in the event of any confirmationsuch discrepancy, the oral instruction shall govern. The Bank shall be fully protected in, and shall incur no liability to the Applicant for, acting upon any oral, telephone, teleprocess written or other instruction electronic instructions which the Bank in good faith shall believe believes to have been given by any authorized person, and in no event shall the Bank be liable for special, indirect or consequential damages. The Bank may, at its option, use any means of verifying any instructions received by it. The Bank also may, at its option, refuse to act on any oral, telephone, teleprocess or other instruction or any part thereof, without incurring any responsibility for any claim, cost, loss, liability or damage expense arising out of such refusal.

Appears in 1 contract

Samples: Standby or Performance Letter of Credit (Rent a Wreck of America Inc)

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