Common use of Lack of Reliance on the Agent Clause in Contracts

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank 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 condition and affairs of the 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 Borrower and, except as expressly provided in this Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectability, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the 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 Credit Document, or the financial condition of the Borrower or the existence or possible existence of any Default or Event of Default.

Appears in 6 contracts

Samples: Credit Agreement (Ace LTD), Credit Agreement (Assured Guaranty LTD), Credit Agreement (Radian Group Inc)

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Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank 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 condition and affairs of the Borrower Borrowers 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 Borrower Borrowers and, except as expressly provided in this Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the any 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 Credit Document, or the financial condition of the any Borrower or the existence or possible existence of any Default or Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Financial Security Assurance Holdings LTD), Credit Agreement (Financial Security Assurance Holdings LTD/Ny/)

Lack of Reliance on the Agent. Independently and without ----------------------------- reliance upon the Agent, each Bank and the holder of each Note, to the extent it deems appropriate, has made and shall continue to make (ia) its own independent investigation of the financial condition and affairs of the 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 (iib) its own appraisal of the creditworthiness of the Borrower and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Transaction Document or the financial condition of the 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 Credit Transaction Document, or the financial condition of the Borrower or the existence or possible existence of any Default or Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (Wireless Facilities Inc), Credit Agreement (Wireless Facilities Inc)

Lack of Reliance on the Agent. (a) Independently and without ----------------------------- reliance upon the Agent, each Bank and the holder of each NoteLender, 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 Borrower and its Subsidiaries 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 Borrower and its Subsidiaries, and, except as expressly provided in this Credit Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. . (b) The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Credit Agreement or any other Credit Document the Revolving Notes or the financial or other condition of the Borrower or any of its Subsidiaries. The Agent shall not 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 other Credit Documentthe Revolving Notes, or the financial condition of the Borrower or any of its Subsidiaries, or the existence or possible existence of any Default or Event of Default, unless specifically requested to do so in writing by any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Jorgensen Earle M Co /De/), Credit Agreement (Jorgensen Earle M Co /De/)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank 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 condition and affairs of the 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 Borrower and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the 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 Credit Document, or the financial condition of the Borrower or the existence or possible existence of any Default or Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (American Homepatient Inc), Credit Agreement (Capstone Pharmacy Services Inc)

Lack of Reliance on the Agent. (a) Independently and without reliance upon the Agent, each Bank and the holder of each NoteLender, 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 Borrower and its Subsidiaries 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 Borrower and its Subsidiaries, and, except as expressly provided in this Credit Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. . (b) The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Credit Agreement or any other Credit Document the Revolving Notes or the financial or other condition of the Borrower or any of its Subsidiaries. The Agent shall not 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 other Credit Documentthe Revolving Notes, or the financial condition of the Borrower or any of its Subsidiaries, or the existence or possible existence of any Default or Event of Default, unless specifically requested to do so in writing by any Lender.

Appears in 1 contract

Samples: Credit Agreement (Jorgensen Earle M Co /De/)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank and the holder of each NoteLender, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the each Borrower and Guarantor 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 each Borrower and Guarantor and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank Lender with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith or any other Loan Instrument or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document Loan Instrument or the financial condition of the any Borrower or 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 other Credit Document, Loan Instrument or the financial condition of the any Borrower or Guarantor or the existence or possible existence of any Default or Event of Default.. 107

Appears in 1 contract

Samples: Credit Agreement (NRG Generating U S Inc)

Lack of Reliance on the Agent. Independently and ----------------------------- without reliance upon the Agent, each Bank 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 condition and affairs of the 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 Borrower and, except as expressly provided in this Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectability, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the 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 Credit Document, or the financial condition of the Borrower or the existence or possible existence of any Default or Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Ambac Financial Group Inc)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank and the holder of each NotePurchaser, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company and the Borrower in connection with the making and the continuance of the Loans loan provided for hereunder and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Company and the Borrower and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank the Purchaser with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans loan or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note Purchaser 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Transaction Document or the financial condition of the Company or the 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 Credit Transaction Document, or the financial condition of the Borrower Company or the existence or possible existence of any Default default or Event of Default. Purchaser acknowledges that Crestview Capital Master, LLC is a purchaser hereunder.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (National Coal Corp)

Lack of Reliance on the Agent. Independently and without reliance ----------------------------- upon the Agent, each Bank Lender and each of the holder holders of each the Note, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Borrower Credit Parties in connection with the making and the continuance of the Loans Loan and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Borrower Credit Parties and, except as expressly provided in this Agreement; notwithstanding the foregoing, the Agent shall not have any duty or responsibility, either initially or and on a continuing basis, to provide each Lender or any Bank holder of the Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans Loan or at any time or times thereafter. The Agent shall not be responsible to any Bank Lender or the any holder of any the Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Loan Document or the financial condition of the Borrower 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 Credit Loan Document, or the financial condition of the Borrower Credit Parties or the existence or possible existence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Tech Electro Industries Inc/Tx)

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Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank Lender 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 condition and affairs of the 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 Borrower and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank Lender or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank Lender or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document Transaction Agreement or the financial condition of the 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 Credit DocumentTransaction Agreement, or the financial condition of the Borrower or the existence or possible existence of any Event of Default or Potential Event of Default.

Appears in 1 contract

Samples: Rig Finance Agreement (Chiles Offshore Inc/New/)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank 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 condition and affairs of the 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 Borrower and, except as expressly provided in this Agreement, the Agent shall not have any duty or responsibility, either initially or on a continuing basis, to provide any Bank or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectability, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the Borrower or any of its Subsidiaries 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 Credit Document, or the financial condition of the Borrower or any of its Subsidiaries or the existence or possible existence of any Default or Event of Default.

Appears in 1 contract

Samples: Credit Agreement (Tracor Inc /De)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank and the holder of each NoteBank, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Borrower Company 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 Borrower Company, and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document the Notes or the financial condition of the Borrower Company 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 Credit Documentthe Notes, or the financial condition of the Borrower Company, or the existence or possible existence of any Default or Event of Default.

Appears in 1 contract

Samples: Revolving Credit Agreement (Amcast Industrial Corp)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank and the holder of each NoteBank, to the extent it deems appropriate, has made and shall continue to make (ia) its own independent investigation of the financial condition and affairs of the Borrower Borrowers in connection with the making and the continuance of the Loans Credit Facilities hereunder and the taking or not taking of any action in connection herewith herewith, and (iib) its own appraisal of the creditworthiness of the Borrower andBorrowers, and except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans Credit Facilities, or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith herewith, or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectabilitycollectibility, priority or sufficiency of this Agreement or any other Credit Document Loan Document, or for the financial condition of the Borrower or Borrowers, nor shall the Agent 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 Credit Loan Document, or the financial condition of the Borrower Borrowers, or the existence or possible existence of any Default or Event of Default.

Appears in 1 contract

Samples: Loan and Security Agreement (Opinion Research Corp)

Lack of Reliance on the Agent. Independently and without reliance upon the Agent, each Bank 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 condition and affairs of the Borrower and its Subsidiaries in connection with the making and the continuance of the Loans and the participation in Letters of Credit and the taking or not taking of any action in connection herewith and (ii) its own appraisal of the creditworthiness of the Borrower and its Subsidiaries and, except as expressly provided in this Agreement, the Agent shall not have any no duty or responsibility, either initially or on a continuing basis, to provide any Bank or the holder of any Note with any credit or other information with respect thereto, whether coming into its possession before the making of the Loans Loans, the participation in the Letters of Credit or at any time or times thereafter. The Agent shall not be responsible to any Bank or the holder of any Note 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, collectability, priority or sufficiency of this Agreement or any other Credit Document or the financial condition of the Borrower or its Subsidiaries 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 Credit Document, or the financial condition of the Borrower or the existence or possible existence of any Default or Event of Default.to

Appears in 1 contract

Samples: Credit Agreement (Video Update Inc)

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