Lender’s Responsibilities Clause Samples

Lender’s Responsibilities. It is expressly understood and agreed that Lender does not assume any liability or responsibility for the sufficiency of the Loan proceeds to complete the Project, for protection of the Project, for the adequacy of the Plans, the compliance of the Project and/or Plans with Governmental Requirements, for the satisfactory completion of the Project, for inspection during construction or to notify Borrower or any other party of any construction defects, for the adequacy or accuracy of the Budget, for any representations made by Borrower, or for any acts on the part of Borrower or its contractors to be performed in connection with the construction of the Project.

Lender’s Responsibilities. Lender agrees to promptly notify Great Lakes of any transactions involving the Lender and the borrower and/or changes in status or demographic data on any of its accounts if received from sources other than Great Lakes. Lender specifically agrees to promptly notify Great Lakes of any bankruptcy action taken with respect to any Loan.

Lender’s Responsibilities. No Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder, and each Lender shall be obligated to make only such Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its Commitment hereunder. If any Lender fails to pay any amount when due by it to the Administrative Agent or the Canadian Administrative Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Administrative Agent or the Canadian Administrative Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Lender to the Administrative Agent or the Canadian Administrative Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 2.30.

Lender’s Responsibilities a. Lender’s artwork shall be displayed by the City for the sole purpose of displaying said artwork at City Recreation Facilities in accordance with the dates set forth in Section 2 of this Agreement. b. Lender’s artwork shall be displayed at the following City Recreation Facility during the term of the Agreement while on loan to the City: ▇▇▇▇▇ Recreation Complex and the Lake ▇▇▇▇▇ Outdoor Recreation Complex. c. Lender agrees that it shall lend its artwork to the City as set forth herein and such artwork shall be lent free of charge to the City. Lender acknowledges that its owners, employees, agents, affiliates and/or representatives shall not receive any payment or benefit from the City of any kind except as otherwise specified herein, which includes providing the name of the Lender of the artwork and information about the artwork and how it can be purchased. d. Lender’s artwork shall comply with the requirements set forth in the Prospectus which is attached hereto as Exhibit “A” and incorporated herein by reference. e. Lender shall be required to install and remove its artwork upon termination of this Agreement. f. Lender shall execute a Hold Harmless/Indemnification Agreement attached hereto as Exhibit “B” and incorporated herein by reference upon execution of this Agreement.

Lender’s Responsibilities. Each Lender shall be responsible for its own compliance with and administration of the provisions of Section 5.23 of this Agreement and Regulation U, and the Administrative Agent shall have no responsibility for any determinations or allocations made or to be made by any Lender as required by such provisions. The Administrative Agent shall transmit to Contran on behalf of any Lender any requests made by such Lender pursuant to Section 5.23 of this Agreement and shall transmit from Contran to such Lender any information provided by Contran in respect to inquiries made under Section 5.23 of this Agreement, or otherwise required to be delivered by Contran to the Lenders pursuant to Section 5.23 of this Agreement.

Lender’s Responsibilities. It is the Lender’s responsibility to protect the guaranteed loan and all of the Collat- eral securing it in bankruptcy and any related appellate proceedings. These responsibilities include, but are not limited to the following: (1) Monitoring confirmed bankruptcy plans to determine Borrower compli- ance, and, if the Borrower fails to com- ply, pursue appropriate relief; (2) Filing all the necessary papers and pleadings concerning the case, in- cluding where appropriate a proof of claim; (3) Attending and, where necessary, participating in meetings of the credi- tors and all court proceedings;

Lender’s Responsibilities. (a) Each Lender represents and warrants to the Agent as follows: (i) such Lender is entitled to receive any payments under this Agreement without the withholding of any tax; (ii) if such Lender is not organized under the laws of the United States of America or a state thereof but is lawfully engaged in the conduct of a trade or business in the United States of America, payments to such Lender under this Agreement are, or are reasonably expected to be, effectively connected with the conduct of such trade or business and are or will be includable in such Lender's gross income; and (iii) if such Lender is not engaged in a trade or business in the United States of America to which payments to such Lender under this Agreement are, or are reasonably expected to be, effectively connected, such Lender is entitled to the benefits of a tax convention that exempts income earned by such Lender in respect of this Agreement from United States withholding tax, and such Lender has satisfied all requirements to qualify for such exemption. Each Lender will reimburse and indemnify the Agent for, and hold the Agent harmless from and against, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever that may be imposed upon, incurred by or asserted against Agent due to its reliance upon the representations of such Lender contained in this section. Unless the Agent receives written notice to the contrary, each Lender shall be deemed to have made the representations contained in this section for the current and each subsequent tax year of such Lender. (b) Each Lender will promptly furnish to the Agent such forms, certifications, statements and other documents as the Agent may reasonably request from time to time to evidence such Lender's exemption from withholding of any tax imposed by any jurisdiction in respect of payments hereunder or to enable the Agent to comply with any applicable Governmental Rules relating thereto. Each Lender agrees that it will, immediately upon request by the Agent, furnish to the Agent such forms of the Internal Revenue Service, or such other forms, certifications, statements and documents, duly executed and completed by such Lender, as required to evidence such Lender's exemption from the withholding of U.S. tax with respect to payments hereunder. If any Lender determines that, as a result of any change in any applicable Governmental Rule or in any ...

Lender’s Responsibilities. Lender further agrees to promptly notify Great Lakes in such form as may from time to time be specified by Great Lakes in the Lender Service Manual, of any transaction involving the Lender and the borrower and/or changes in status or demographic data on any of its accounts if received from sources other than Great Lakes. Lender specifically agrees to promptly notify Great Lakes of any bankruptcy action taken with respect to any Loan.

Lender’s Responsibilities. It is the lender’s responsibility to protect the guaranteed loan and all of the collat- eral securing it in bankruptcy pro- ceedings, including taking actions that result in greater recoveries and not taking actions that would not likely be cost-effective. These responsibilities include, but are not limited to, the fol- lowing: (1) Monitoring confirmed bankruptcy plans to determine borrower compli- ance, and, if the borrower fails to com- ply, seeking a dismissal of the bank- ruptcy plan; (2) Filing a proof of claim, where nec- ▇▇▇▇▇▇, and all the necessary papers and pleadings concerning the case; (3) Attending and, where necessary, participating in meetings of the credi- tors and all court proceedings; (4) Requesting modifications of any bankruptcy plan whenever it appears that additional recoveries are likely; and (5) Keeping the Agency adequately and regularly informed in writing of all aspects of the proceedings.