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

Lack of Reliance on the Agent. (a) Independently and without ----------------------------- reliance upon the 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 Borrower and its Subsidiaries in connection with 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 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.

Appears in 2 contracts

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

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Lack of Reliance on the Agent. (a) Independently and without ----------------------------- reliance upon the 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 Borrower and its Subsidiaries in connection with 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 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.

Appears in 1 contract

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

Lack of Reliance on the Agent. (a) Independently and without ----------------------------- reliance upon the 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 Borrower and its Restricted Subsidiaries in connection with the taking or not taking of any action in connection herewith herewith, and (ii) its own appraisal of the creditworthiness of the Borrower and its Restricted Subsidiaries, and, except as expressly provided in this Credit Agreement, the Agent shall not have any no 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 Loans or at any time or times thereafter.

Appears in 1 contract

Samples: Credit Agreement (Rock Tenn Co)

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Lack of Reliance on the Agent. (a) Independently and without ----------------------------- reliance upon the 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 Borrower Borrowers and its Subsidiaries any Subsidiary Guarantors in connection with the making and maintaining Loans hereunder and taking or not taking of any action in connection herewith herewith, and (ii) its own appraisal of the creditworthiness of the Borrower Borrowers and its Subsidiaries, Subsidiary Guarantors (including in each case the collectibility or adequacy of the Collateral or any part thereof) and, except as expressly provided in this Credit Agreementany Loan Document, the Agent shall not have any no 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 Revolving Loans or at any time or times thereafter.

Appears in 1 contract

Samples: Penn Traffic Co

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