Lack of Reliance on Agents. (a) Independently and without reliance upon either of the Agents, each Lender, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of the Borrowers and the other Loan Parties, in connection with the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Borrowers and the other Loan Parties, and except as expressly provided in this Agreement, neither of the Agents shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Loans or the issuance of the Initial Letter of Credit or at any time or times thereafter. (b) Neither of the Agents shall be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, collectibility, priority or sufficiency of this Agreement or the Notes or the financial or other condition of the Borrowers and the other Loan Parties. Neither of the Agents shall be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any other Loan Document, or the financial condition of the Borrowers and the other Loan Parties, or the existence or possible existence of any Default or Event of Default.
Appears in 2 contracts
Samples: Loan and Security Agreement (Grant Prideco Inc), Loan and Security Agreement (Grant Prideco Inc)
Lack of Reliance on Agents. (a) Independently and without reliance upon either of the AgentsAdministrative Agent, Term Loan B Agent or any other Lender, each Lender, to the extent it deems appropriate, Lender has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of the Borrowers and the other each Loan Parties, Party in connection with the making and the continuance of the Advances hereunder and the taking or not taking of any action in connection herewith herewith, and (ii) its own appraisal of the creditworthiness of the Borrowers and the other each Loan Parties, and except as expressly provided in this Agreement, neither of the Agents Party. Neither Administrative Agent nor Term Loan B Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Loans or the issuance of the Initial Letter of Credit Advances or at any time or times thereafter.
(b) thereafter except as shall be provided by any Loan Party pursuant to the terms hereof. Neither of the Agents Administrative Agent nor Term Loan B Agent shall be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any agreement, document, certificate or other writing a statement delivered in connection herewith with or for the execution, effectiveness, genuineness, validity, enforceability, collectibility, priority collectability or sufficiency of this Agreement or the Notes any Other Document, or of the financial or other condition of the Borrowers and the other any Loan Parties. Neither of the Agents shall Party, or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any other Loan DocumentAgreement, the Notes, the Other Documents or the financial condition or prospects of the Borrowers and the other any Loan PartiesParty, or the existence or possible existence of any Event of Default or Event of any Default.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (A.S.V., LLC), Revolving Credit, Term Loan and Security Agreement (Manitex International, Inc.)
Lack of Reliance on Agents. (a) Independently and without reliance upon either of the Agentsany Agent, each LenderLender and the holder of each Note, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of the Borrowers and the other Loan Parties, Credit Parties in connection with the making and the continuance of the Bridge Loans and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Borrowers and the other Loan PartiesCredit Parties and, and except as expressly provided in this Agreement, neither of the Agents no Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Bridge Loans or the issuance of the Initial Letter of Credit or at any time or times thereafter.
(b) Neither of the Agents . No Agent shall be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of this Agreement or the Notes any other Credit Document or the financial or other condition of the Borrowers and the other Loan Parties. Neither of the Agents shall Credit Parties or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any other Loan Credit Document, or the financial condition of the Borrowers and the other Loan Parties, Credit Parties or the existence or possible existence of any Default or Event of Default.
Appears in 1 contract
Samples: Senior Secured Bridge Credit Agreement (Aes Corporation)
Lack of Reliance on Agents. (a) Independently and without reliance upon either of the Agentsany Agent, each Lender, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of the Borrowers and the other Loan Parties, Borrower in connection with the making and the continuance of the Loans and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Borrowers and the other Loan PartiesBorrower and, and except as expressly provided in this AgreementAgreement and the other Transaction Documents, neither of the Agents no Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Loans or the issuance of the Initial Letter of Credit or at any time or times thereafter.
(b) Neither of the Agents . No Agent shall be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, collectibilityperfection, collectability, priority or sufficiency of this Agreement or the Notes any other Transaction Document or the financial or other condition of the Borrowers and the other Loan Parties. Neither of the Agents shall Borrower or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any other Loan Transaction Document, or the satisfaction of any of the conditions precedent set forth in Article IV (Conditions to Credit Extensions) or the financial condition of the Borrowers and the other Loan Parties, Borrower or the existence or possible existence of any Default or Event of Default.
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Lack of Reliance on Agents. (a) Independently and without reliance upon either of the Agentsany Agent or any other Lender, each Lender, to the extent it deems appropriate, Lender has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of the Borrowers Borrower and the other Loan Parties, each Guarantor in connection with the making and the continuance of the Loans hereunder and the taking or not taking of any action in connection herewith herewith, and (ii) its own appraisal of the creditworthiness of the Borrowers Borrower and the other Loan Parties, and except as expressly provided in this Agreement, neither of the Agents each Guarantor. Each Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Loans or the issuance of the Initial Letter of Credit Loan or at any time or times thereafter.
(b) Neither of thereafter except as shall be provided by Borrower pursuant to the Agents terms hereof. Each Agent shall not be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any agreement, document, certificate or other writing a statement delivered in connection herewith with or for the execution, effectiveness, genuineness, validity, enforceability, collectibility, priority collectability or sufficiency of this Agreement or the Notes any other Loan Document, or of the financial or other condition of the Borrowers and the other Loan Parties. Neither of the Agents shall Borrower or any Guarantor, or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement or any Agreement, the Note, the other Loan Document, Documents or the financial condition or prospects of the Borrowers and the other any Loan PartiesParty, or the existence or possible existence of any Event of Default or Event of any Default.
Appears in 1 contract
Samples: Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.)
Lack of Reliance on Agents. (a) Independently and without reliance upon either of the Agentsany Agent, each Lender, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial or other condition and affairs of Holdings, the Borrowers Borrower and the other Loan Parties, their respective Subsidiaries in connection with the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of Holdings, the Borrowers Borrower and the other Loan Partiestheir respective Subsidiaries, and and, except as expressly provided in this Credit Agreement, neither of the Agents no Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the initial Loans or the issuance of the Initial Letter of Credit or at any time or times thereafter.
(b) Neither of the Agents No Agent shall be responsible to any Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or for the execution, effectiveness, genuineness, validity, enforceability, collectibility, priority or sufficiency of this Credit Agreement or the Notes other Credit Documents or the financial or other condition of Holdings, the Borrowers and the other Loan PartiesBorrower or any of their respective Subsidiaries. Neither of the Agents No Agent shall be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Credit Agreement or any the other Loan DocumentCredit Documents, or the financial condition of Holdings, the Borrowers and the other Loan PartiesBorrower or any of their respective Subsidiaries, or the existence or possible existence of any Default or Event of Default.
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