Common use of Lender's Right To Rely On Communications Clause in Contracts

Lender's Right To Rely On Communications. The Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of the Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuine; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s gross negligence or willful misconduct. The Borrower agrees to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys fees and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Efj Inc)

AutoNDA by SimpleDocs

Lender's Right To Rely On Communications. The Borrower shall provide the Lender with written notice designating employees or agents of Borrower who are authorized to communicate with Lender on Borrower's behalf regarding Advances and other matters pertaining to this Agreement. Until further notice, Borrower designates Xxxxxx X. Xxxxx, Xxxxxxx Xxxxx and Xxxxxx Xxxxxxxxx, or any one of them, as individuals authorized to communicate with the Lender. Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of the so designated by Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s 's acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s gross negligence or willful misconduct. The Borrower agrees Borrower, jointly and severally, agree to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys reasonable attorneys’ fees and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss. The foregoing indemnification obligations shall survive the payment of the Revolving Loan and the termination of this Agreement but shall not extend to any suit, proceeding or action arising out of the Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Revolving Line of Credit Loan and Security Agreement (Integral Systems Inc /Md/)

Lender's Right To Rely On Communications. Borrower shall ---------------------------------------- provide the Lender with written notice designating employees or agents of the Borrower who are authorized to communicate with Lender on the Borrower's behalf regarding Advances and other matters pertaining to this Agreement. Until further notice, Borrower designates Xxxx Xxxxxx and Xxxxxx X. Xxxxxxx, or any one of them, as individuals authorized to communicate with the Lender. The Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of so designated by the Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s 's acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s 's gross negligence or willful misconduct. The Borrower agrees to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys attorneys' fees and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement and Security Agreement (Integral Systems Inc /Md/)

Lender's Right To Rely On Communications. Borrower shall provide the ---------------------------------------- Lender with written notice designating employees or agents of the Borrower who are authorized to communicate with Lender on the Borrower's behalf regarding Advances and other matters pertaining to this Agreement. Until further notice, Borrower designates Xxxx X. Xxxxx, Xxxxxx X. Xxxx III and Xxxxxxx Xxxxx, or any one of them, as its employees authorized to communicate with the Lender. The Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of so designated by the Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s 's acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s 's gross negligence or willful misconduct. The Borrower agrees to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys fees and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Netplex Group Inc)

Lender's Right To Rely On Communications. The Borrower shall provide the Lender with written notice designating employees or agents of Borrower who are authorized to communicate with Lender on Borrower’s behalf regarding Advances and other matters pertaining to this Agreement and the other Loan Documents. Until further notice, Borrower designates the Chief Financial Officer, Chief Executive Officer, Treasurer and Comptroller of Integral, or any one of them, as individuals authorized to communicate with the Lender. Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of the so designated by Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s gross negligence or willful misconduct. The Borrower agrees Borrower, jointly and severally, agree to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys fees reasonable attorneys’ fees, costs and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss. The foregoing indemnification obligations shall survive the payment of the Revolving Loan and the termination of this Agreement but shall not extend to any suit, proceeding or action arising out of the Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Integral Systems Inc /Md/)

AutoNDA by SimpleDocs

Lender's Right To Rely On Communications. Borrower shall provide the Lender with written notice designating employees or agents of the Borrower who are authorized to communicate with Lender on the Borrower's behalf regarding Advances and other matters pertaining to this Agreement. Until further notice, Borrower designates Paul J. Michaud and Xxxxx Xxxxx, or any one of them, as its employees authorized to commxxxxxxx xxxh the Lender. The Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of so designated by the Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s 's acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s 's gross negligence or willful misconduct. The Borrower agrees to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including attorneys fees and expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement, Term Loan Agreement and Security Agreement (United Industrial Corp /De/)

Lender's Right To Rely On Communications. Borrower shall provide the Lender with written notice designating employees or agents of the Borrower who are authorized to communicate with Lender on the Borrower's behalf regarding Advances and other matters pertaining to this Agreement. The Borrower authorizes the Lender to accept, rely upon, act upon and comply with, any verbal or written instructions, requests, confirmations and orders of any employee or agent of so designated by the Borrower. The Borrower acknowledges that the transmission between the Borrower and the Lender of any such instructions, requests, confirmations and orders involves the possibility of errors, omissions, mistakes and discrepancies and agrees to adopt such internal measures and operational procedures as the Borrower deems necessary to protect its interests. The Borrower hereby assumes all risk of loss arising out of: (i) the Lender’s 's acceptance, reliance on, compliance with or observation of any such instructions, requests, confirmations or orders that the Lender, in good faith, believes are genuineorders; and (ii) any such errors, omissions, mistakes and discrepancies, except those caused by the Lender’s 's gross negligence or willful misconduct. The Borrower agrees to indemnify the Lender and to hold the Lender harmless for and from all claims, demands, suits, actions, judgments, decrees, losses or damages, including reasonable attorneys fees and reasonable expenses, that the Lender may incur as a result of the foregoing events or occurrences for which the Borrower has assumed the risk of loss.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement (Dunn Computer Corp /Va/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!