Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys: (a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender; (b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts; (c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents; (d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower; (e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith; (f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and (g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 11 contracts
Samples: Credit Agreement (American States Water Co), Credit Agreement (American States Water Co), Credit Agreement (American States Water Co)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection with the Financing Documents, except that Administrative Agent shall be liable with respect to its specific duties set forth hereunder but only to the extent of its own gross negligence or willful misconduct in accordance with the discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither Administrative Agent nor any advice of such legal counselits directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (a) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
Financing Document or any borrowing hereunder; (db) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements specified in any Financing Document; (c) the satisfaction of any of condition specified in any Financing Document; (d) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value genuineness of any Loan Financing Document, any Lien purported to be created or perfected thereby or any other instrument or writing furnished pursuant thereto or in connection therewith;
; (e) the existence or non-existence of any Default or Event of Default; or (f) Will the financial condition of any Credit Party. Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, telex, facsimile or writing electronic transmission or similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . Administrative Agent shall not incur any liability be liable for any arithmetical apportionment or distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from the sole recourse of any Lender under to whom payment was due but not made, shall be to recover from other Lenders any Loan Document, including principal, interest, commitment fees, Advances payment in excess of the amount to which they are determined to be entitled (and such other amounts; provided that, promptly upon discovery of Lenders hereby agree to return to such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make Lender any such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurrederroneous payments received by them).
Appears in 10 contracts
Samples: Credit and Security Agreement (BioHorizons, Inc.), Credit and Security Agreement (BioHorizons, Inc.), Credit Agreement (Cyberonics Inc)
Liability of Administrative Agent. Neither NO RELATED PARTY OF THE ADMINISTRATIVE AGENT SHALL (A) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN), or (b) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by the Borrower or any Restricted Subsidiary or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with with, this Agreement or any other Loan Document, or the Loan Documentsvalidity, except for their own gross negligence effectiveness, genuineness, enforceability or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes sufficiency of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and any other professionals or experts selected by itLoan Document, or with legal counselfor the creation, accountants perfection or other professionals or experts for Borrower or priority of any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not Liens purported to be liable for any action taken or not taken created by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except , or the validity, genuineness, enforceability, existence, value or sufficiency of any collateral security, or to make any inquiry respecting the extent expressly set forth in performance by the Borrower of its obligations hereunder or under any other Loan DocumentsDocument, or for any failure of the Borrower or any Restricted Subsidiary or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Related Party of the Administrative Agent shall have no duty be under any obligation to ask any Lender or Participant to ascertain or to inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the other Loan Documents Document, or to inspect any Propertythe properties, books or records of the Borrower or any Restricted Subsidiary of Borrower;
(e) Will not be responsible to or any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredAffiliate thereof.
Appears in 8 contracts
Samples: Credit Agreement (Titan Energy, LLC), Credit Agreement (Atlas Resource Partners, L.P.), Credit Agreement (Atlas Energy, L.P.)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection with the Financing Documents, except that Administrative Agent shall be liable with respect to its specific duties set forth hereunder, but only to the extent of its own gross negligence or willful misconduct in accordance with the discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither Administrative Agent nor any advice of such legal counselits directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
Financing Document or any borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements specified in any Financing Document; (iii) the satisfaction of any of condition specified in any Financing Document; (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value genuineness of any Loan Financing Document, any Lien purported to be created or perfected thereby or any other instrument or writing furnished pursuant thereto or in connection therewith;
; (fv) Will the existence or non-existence of any Default or Event of Default; or (vi) the financial condition of any Credit Party. Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, telex, facsimile or writing electronic transmission or similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . Administrative Agent shall not incur any liability be liable for any arithmetical apportionment or distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from the sole recourse of any Lender under to whom payment was due but not made, shall be to recover from other Lenders any Loan Document, including principal, interest, commitment fees, Advances payment in excess of the amount to which they are determined to be entitled (and such other amounts; provided that, promptly upon discovery of Lenders hereby agree to return to such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make Lender any such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurrederroneous payments received by them).
Appears in 7 contracts
Samples: Credit and Security Agreement (Targanta Therapeutics Corp.), Credit and Security Agreement (Derma Sciences, Inc.), Credit Agreement (Sport Supply Group, Inc.)
Liability of Administrative Agent. Neither (a) The Administrative Agent, when acting on behalf of the Lenders, may execute any of its respective duties under this Agreement by or through any of its respective officers, agents, and employees, and neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Affiliates shall be liable to the Lenders or any of them for any action taken or not omitted to be taken by in good faith, or be responsible to the Lenders or to any of them under for the consequences of any oversight or in connection with error of judgment, or for any loss, unless the Loan Documents, except for their own same shall happen through its gross negligence or willful misconduct. Without limitation on the foregoing, the The Administrative Agent and its respective directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, Affiliates shall in form satisfactory no event be liable to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment Lenders or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable them for any action taken or not omitted to be taken by it them pursuant to instructions received by them from the Required Lenders or in good faith in accordance with any reliance upon the advice of such legal counselcounsel selected by it. Without limiting the foregoing, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statementneither the Administrative Agent, warranty or representation made in nor any of the Loan Documents its respective directors, officers, employees, agents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, Affiliates shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value enforceability of, or for any statement, warranty, or representation in, this Agreement, any Loan Document or any related agreement, document or order, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrowers of any of the terms, conditions, covenants, or agreements of this Agreement or any of the Loan DocumentDocuments.
(b) Neither the Administrative Agent nor any of its respective directors, officers, employees, agents or Affiliates shall have any other instrument responsibility to the Borrowers on account of the failure or writing furnished pursuant thereto delay in performance or breach by any Lender or by the Borrowers of any of their obligations under this Agreement or any of the Loan Documents or in connection herewith or therewith;.
(fc) Will not incur The Administrative Agent, in its capacity as Administrative Agent hereunder, shall be entitled to rely on any liability communication, instrument, or document reasonably believed by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it such person to be genuine or correct and to have been signed or sent by a person or persons believed by such person to be the proper party person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable persons, and such person shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of professional advisers and experts selected by such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredperson.
Appears in 6 contracts
Samples: Revolving Credit, Term Loan and Guaranty Agreement (Federal Mogul Corp), Revolving Credit Agreement (Interstate Bakeries Corp/De/), Revolving Credit, Term Loan and Guaranty Agreement (Federal Mogul Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any Related Party of its directors, officers, agents, employees or attorneys Administrative Agent shall (a) be liable for any action taken or not omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the Loan Documentstransactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary), except for their or as Administrative Agent shall believe in good faith shall be necessary or (ii) in the absence of its own gross negligence or willful misconduct. Without limitation on the foregoingmisconduct as determined by a court of competent jurisdiction by final and nonappealable judgment, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible in any manner to any Lender for any recital, statement, representation or warranty made by Borrower, Guarantor, any subsidiary or Affiliate of Borrower or Guarantor, or any other Person, or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of Borrower or any other party to any Loan Document to perform its obligations hereunder or thereunder. Neither Administrative Agent nor any Related Party of Administrative Agent shall be under any obligation to any Lender or participant or any other Person to inspect the properties, books or records of Borrower, Guarantor, any of their Related Parties or any other Person, or to ascertain or inquire into (u) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (v) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (w) the performance or observance of any of the Loan Documents or in any noticecovenants, certificate, report, request agreements or other statement (written terms or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly conditions set forth in herein or therein or the occurrence of any Default, (x) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, shall have no duty to ask (y) the value or inquire as to the performance or observance by Borrower sufficiency of any of Collateral, or (z) the terms, conditions or covenants satisfaction of any condition set forth herein or therein, other than to confirm receipt of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 5 contracts
Samples: Loan Agreement (Pacific Oak Strategic Opportunity REIT, Inc.), Loan Agreement (KBS Strategic Opportunity REIT II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Liability of Administrative Agent. No Administrative Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable responsible for or have any action taken duty to ascertain, inquire into or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
verify (ai) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the borrowing hereunder or any other Loan Documents;
Document; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants of any agreements of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of in any Loan Document; (iii) the satisfaction of any condition specified in Section 7, except receipt of items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or genuineness of this Agreement or any other Loan Document or any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith or of the collectibility of the Obligations or the value, worth, priority, or perfection of the Collateral or the Liens provided for by the Loan Documents. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or statement (whether written or oral) or other instrument or writing documents believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; parties and
, in the case of legal matters, in relying on the advice of counsel (g) Will including counsel for the Borrower). The Administrative Agent need not incur any liability for any arithmetical error verify the worth or existence of the Collateral and may rely exclusively on reports of the Borrower in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Borrowing Base. The Administrative Agent, Agent may treat the Lenders that are named herein as the holders of the Loans and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredindebtedness contemplated herein.
Appears in 5 contracts
Samples: Revolving Credit Agreement (World Acceptance Corp), Revolving Credit Agreement (World Acceptance Corp), Revolving Credit Agreement (World Acceptance Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection with the Financing Documents, except that Administrative Agent shall be liable with respect to its specific duties set forth hereunder, but only to the extent of its own gross negligence or willful misconduct in accordance with the discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither Administrative Agent nor any advice of such legal counselits directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
Financing Document or any borrowing hereunder, (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants or agreements specified in any Financing Document, conditions or covenants (iii) the satisfaction of any of condition specified in any Financing Document, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value genuineness of any Loan Financing Document, any Lien purported to be created or perfected thereby or any other instrument or writing furnished pursuant thereto or in connection therewith;
, (fv) Will the existence or non-existence of any Default or Event of Default; or (vi) the financial condition of any Credit Party. Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, telex, facsimile or writing electronic transmission or similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . Administrative Agent shall not incur any liability be liable for any arithmetical apportionment or distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from the sole recourse of any Lender under to whom payment was due but not made, shall be to recover from other Lenders any Loan Document, including principal, interest, commitment fees, Advances payment in excess of the amount to which they are determined to be entitled (and such other amounts; provided that, promptly upon discovery of Lenders hereby agree to return to such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make Lender any such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurrederroneous payments received by them).
Appears in 4 contracts
Samples: Credit Agreement (Warren Resources Inc), Credit Agreement (Warren Resources Inc), Credit Agreement (Palace Entertainment Holdings, Inc.)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note Lender as the holder thereof a Lender until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower the Credit Parties and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Company or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any the Property, books or records of Borrower the Company or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower any Credit Party or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment feesFacility Fees, Advances Loans and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower such Credit Party and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 4 contracts
Samples: Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-in house legal counsel), accountants (including in-in house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates the Consolidated Group or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or the Loan Parties of any of the terms, conditions (except to ascertain that documents facially responsive to the requirements of Article 8 have been delivered) or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowerthe Loan Parties;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and;
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any other Loan Party thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or the other Loan Parties shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred; and
(h) Have not made nor do they now make any representations or warranties, express or implied, nor do they assume any liability to the Lenders, with respect to the creditworthiness or financial condition of the Consolidated Group, the value of their respective assets or the collectability of the Loans.
Appears in 4 contracts
Samples: Unsecured Credit Agreement (BioMed Realty L P), Secured Term Loan Agreement (BioMed Realty Trust Inc), Unsecured Credit Agreement (BioMed Realty Trust Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 4 contracts
Samples: Credit Agreement (American States Water Co), Credit Agreement (American States Water Co), Credit Agreement (American States Water Co)
Liability of Administrative Agent. NEITHER THE ADMINISTRATIVE AGENT NOR ANY RELATED PARTY OF THE ADMINISTRATIVE AGENT SHALL (A) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL AND NON-APPEALABLE JUDGMENT), or (b) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by the Parent or any Restricted Subsidiary or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent or such Related Party under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for the creation, perfection or priority of any Liens purported to be created by any of the Loan Documents, or the validity, genuineness, enforceability, existence, value or sufficiency of any collateral security, or to make any inquiry respecting the performance by the Borrower of its obligations hereunder or under any other Loan Document, or for any failure of the Parent or any Restricted Subsidiary or any other party to any Loan Document to perform its obligations hereunder or thereunder. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Related Party thereof shall be liable for under any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible obligation to any Lender for any statement, warranty or representation made in any of the Loan Documents Participant to ascertain or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the other Loan Documents Document, or to inspect any Propertythe properties, books or records of Borrower the Parent or any Restricted Subsidiary of Borrower;
(e) Will not be responsible to or any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredAffiliate thereof.
Appears in 4 contracts
Samples: Credit Agreement (Atlas Energy Group, LLC), Second Lien Credit Agreement (Atlas Energy Group, LLC), Credit Agreement (Atlas Energy Group, LLC)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees agents and attorneysemployees:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrowerits Subsidiaries;
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: 364 Day Loan Agreement (MGM Mirage), 364 Day Loan Agreement (MGM Mirage), 364 Day Loan Agreement (MGM Mirage)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-in house legal counsel), accountants (including in-in house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates the Consolidated Group or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or Guarantor of any of the terms, conditions (except to ascertain that documents facially responsive to the requirements of Article 8 have been delivered) or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of the Borrower or any Subsidiary of Borrowerand Guarantor;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and;
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or Guarantor or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or Guarantor shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred; and
(h) Have not made nor do they now make any representations or warranties, express or implied, nor do they assume any liability to the Lenders, with respect to the creditworthiness or financial condition of the Consolidated Group, the value of their respective assets or the collectability of the Loans.
Appears in 3 contracts
Samples: Unsecured Credit Agreement (BioMed Realty L P), Unsecured Term Credit Agreement (BioMed Realty L P), Unsecured Credit Agreement (BioMed Realty L P)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the other Loan Documents, except for their own gross negligence or willful misconductand its duties hereunder shall be administrative in nature. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, whether a Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and
(c) shall not, except as expressly set forth herein and in the other professionals Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any of the Borrowers or experts for Borrower or any Subsidiary of Borrower and/or any of their respective Affiliates that is communicated to or obtained by the Lenders, and Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 11.01 and 9.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any advice of Default unless and until notice describing such legal counselDefault is given in writing to the Administrative Agent by the Company, accountants a Lender or other professionals or experts;
(c) Shall an L/C Issuer. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any other Loan Document, (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein or the occurrence of any of Default, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Documentthis Agreement, any other Loan Document or any other agreement, instrument or writing furnished pursuant thereto document or (v) the satisfaction of any condition set forth in connection therewith;
(f) Will not incur any liability by acting Article V or not acting in reliance upon any Loan Documentelsewhere herein, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: Credit Agreement (Fti Consulting, Inc), Credit Agreement (Fti Consulting Inc), Credit Agreement (Fti Consulting Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) 13.5.1 May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Credit Facility Lender as the owner of that Credit Facility Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Credit Facility Lender;
(b) 13.5.2 May consult with legal counsel (including in-house legal counsel), accountants (including in-in house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Credit Facility Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or expertsexperts selected by it with reasonable care;
(c) 13.5.3 Shall not be responsible to any Credit Facility Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan DocumentsDocuments except for those expressly made by it;
(d) 13.5.4 Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) 13.5.5 Will not be responsible to any Credit Facility Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) 13.5.6 Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing reasonably believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) 13.5.7 Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower thereof or paid or payable to or received or receivable from any Credit Facility Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances Loans and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Credit Facility Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: Credit Agreement (Willis Lease Finance Corp), Credit Agreement (Willis Lease Finance Corp), Credit Agreement (Willis Lease Finance Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any Related Party of its directors, officers, agents, employees or attorneys Administrative Agent shall (a) be liable for any action taken or not omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the Loan Documentstransactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary), except for their or as Administrative Agent shall believe in good faith shall be necessary or (ii) in the absence of its own gross negligence or willful misconduct. Without limitation on the foregoingmisconduct as determined by a court of competent jurisdiction by final and nonappealable judgment, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible in any manner to any Lender for any recital, statement, representation or warranty made by any Borrower, Guarantor, any subsidiary or Affiliate of any Borrower or Guarantor, or any other Person, or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of any Borrower or any other party to any Loan Document to perform its obligations hereunder or thereunder. Neither Administrative Agent nor any Related Party of Administrative Agent shall be under any obligation to any Lender or participant or any other Person to inspect the properties, books or records of any Borrower, Guarantor, any of their Related Parties or any other Person, or to ascertain or inquire into (u) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (v) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (w) the performance or observance of any of the Loan Documents or in any noticecovenants, certificate, report, request agreements or other statement (written terms or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly conditions set forth in herein or therein or the occurrence of any Default, (x) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, shall have no duty to ask (y) the value or inquire as to the performance or observance by Borrower sufficiency of any of Collateral, or (z) the terms, conditions or covenants satisfaction of any condition set forth herein or therein, other than to confirm receipt of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Real Estate Investment Trust II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the other Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice whether an Event of the assignment Default or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, Unmatured Event of Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any bankruptcy, insolvency or similar law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any bankruptcy, insolvency or similar law; and
(c) shall not, except as expressly set forth herein and in the other professionals or experts Loan Documents, have any duty to disclose, and shall not be liable for Borrower the failure to disclose, any information relating to the Company or any Subsidiary of Borrower and/or its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of their its Affiliates or the Lenders, and in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 12.2 and 14.1) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any advice Event of Default or Unmatured Event of Default unless and until notice describing such legal counselEvent of Default or Unmatured Event of Default is given to the Administrative Agent by the Company, accountants a Lender or other professionals or experts;
(c) Shall an Issuing Lender. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the Loan Documents or in any noticecovenants, certificate, report, request agreements or other statement (written terms or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly conditions set forth in herein or therein or the occurrence of any Event of Default or Unmatured Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, shall have no duty to ask (v) the value or inquire as to the performance or observance by Borrower sufficiency of any of collateral granted under the termsLoan Documents, conditions or covenants (vi) the satisfaction of any condition set forth in Section 11 or elsewhere herein, other than to confirm receipt of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: Credit Agreement (Regal Beloit Corp), Credit Agreement (Regal Beloit Corp), Credit Agreement (Regal Beloit Corp)
Liability of Administrative Agent. Neither The Administrative Agent shall exercise the same care to protect the interests of each Bank as it does to protect its own interests, so that so long as the Administrative Agent exercises such care it shall not be under any liability to any of the Banks, except for the Administrative Agent's gross negligence or willful misconduct with respect to anything it may do or refrain from doing. Subject to the immediately preceding sentence, neither the Administrative Agent nor any of its directors, officers, agents, administrative agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith in accordance with its capacity as Administrative Agent. Without limiting the generality of the foregoing, neither the Administrative Agent nor any advice of such legal counselits directors, accountants officers, administrative agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify: (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement, any of the Loan Documents;
Document, or any borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Sections 3.1 or 3.2, except receipt of items required to be delivered to the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
Administrative Agent; (eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency enforceability or value genuineness of any Loan Documentthis Agreement, the Notes, any other Loan Document or any other document or instrument or writing furnished pursuant thereto or executed and delivered in connection therewith;
with or as contemplated by this Agreement; (fv) Will the existence, value, collectibility or adequacy of the Collateral or any part thereof or the validity, effectiveness, perfection or relative priority of the liens and security interests of the Banks (through the Administrative Agent) therein; or (vi) the filing, recording, refiling, continuing or re-recording of any financing statement or other document or instrument evidencing or relating to the security interests or liens of the Banks (through the Administrative Agent) in the Collateral. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a bank wire, telecopy or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Gamestop Corp), Revolving Credit Agreement (Barnes & Noble Inc), Revolving Credit Agreement (Gamestop Corp)
Liability of Administrative Agent. Neither the Administrative Agent Agent, the Lead Arranger and Sole Book Manager or any of their Affiliates nor any of its respective directors, officers, agents, or employees or attorneys shall be liable to any Bank for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its respective directors, officers, agents, employees and attorneysemployees:
(a) May may treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, thereof in form satisfactory to the Administrative Agent, signed by the payee, payee and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations obligations due to Banks for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May may consult with legal counsel (including counsel, in-house legal counsel), accountants (including independent public accountants, in-house accountants) accountants and other professionals professionals, or other experts selected by it, or with legal counsel, accountants independent public accountants, or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the LendersBorrower, and shall not be liable to any Bank for any action taken or not taken by it or them in good faith in accordance with any the advice of such legal counsel, accountants or other professionals independent public accountants, or experts;
(c) Shall will not be responsible to any Lender Bank for any statement, warranty warranty, or representation made in any of the Loan Documents or in any notice, certificate, report, request request, or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except except to the extent expressly set forth in the Loan Documents, shall will have no duty to ask ascertain or inquire as to the performance or observance by Borrower or any other Person of any of the terms, conditions conditions, or covenants of any of the Loan Documents or to inspect any Propertythe property, books books, or records of Borrower or any Subsidiary of Borrowerits Subsidiaries or other Person;
(e) Will will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will will not incur any liability to any Bank by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it or them to be genuine and signed or sent by the proper party or parties; and
(g) Will will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan DocumentBank hereunder, including principalwithout limitation payment of principal and interest on the Notes, interest, payment of commitment fees, Advances Loans, and other amounts; provided that, that promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks, and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Revolving Loan Agreement (Kb Home), Term Loan Agreement (Kb Home)
Liability of Administrative Agent. Neither the (a) The Administrative Agent nor or any Issuing Lender, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent, the Issuing Lenders nor their respective directors, officers, agents, or employees or attorneys shall be liable to the Lenders or any of them for any action taken or not omitted to be taken by in good faith, or be responsible to the Lenders or to any of them under for the consequences of any oversight or in connection with error of judgment, or for any loss, unless the Loan Documents, except for their own same shall happen through its gross negligence or willful misconduct. Without limitation on the foregoingThe Administrative Agent, the Administrative Agent Issuing Lenders and its their respective directors, officers, agents, and employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, shall in form satisfactory no event be liable to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment Lenders or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable them for any action taken or not omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in good faith in accordance with any reliance upon the advice of such legal counselcounsel selected by it. Without limiting the foregoing, accountants neither the Administrative Agent, the Issuing Lenders nor any of their respective directors, officers, employees, or other professionals or experts;
(c) Shall not agents shall be responsible to any Lender of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty warranty, or representation made in in, or for the perfection of any of security interest contemplated by, this Agreement or any related agreement, document or order, or for the Loan Documents designation or in failure to designate this transaction as a "Highly Leveraged Transaction" for regulatory purposes, or shall be required to ascertain or to make any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to inquiry concerning the performance or observance by the Borrower of any of the terms, conditions conditions, covenants, or covenants agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent, the Issuing Lenders, nor any of their respective directors, officers, employees, or agents shall have any responsibility to the Borrower on account of the failure or delay in performance or breach by any of the Lenders or the Borrower of any of their respective obligations under this Agreement or the Loan Documents or to inspect any Property, books or records of Borrower Notes or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency related agreement or value of any Loan Document, any other instrument or writing furnished pursuant thereto document or in connection herewith or therewith;.
(fc) Will not incur The Administrative Agent, and the Issuing Lenders, in such capacities hereunder, shall be entitled to rely on any liability by acting communication, instrument, or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable Persons, and it shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 2 contracts
Samples: 364 Day Competitive Advance and Revolving Credit Agreement (Cendant Corp), 364 Day Competitive Advance and Revolving Credit Agreement (HFS Inc)
Liability of Administrative Agent. (a) Neither the Administrative Agent nor any of its directorsRelated Parties shall:
(i) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL AND NONAPPEALABLE JUDGMENT), officers, agents, employees or
(ii) be responsible in any manner to any Lender or attorneys shall be liable any other Person for any action taken recital, statement, representation or not taken warranty made by them the Borrower, any Guarantor or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent under or in connection with with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for the creation, perfection or priority of any Liens purported to be created by any of the Loan Documents, except or the validity, genuineness, enforceability, existence, value or sufficiency of any Collateral, or to make any inquiry respecting the performance by the Borrower of its obligations hereunder or under any other Loan Document, or for their any failure of the Borrower, any Guarantor or any other party to any Loan Document to perform its obligations hereunder or thereunder. The Administrative Agent shall not be under any obligation to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Borrower, any of its Subsidiaries, any Guarantor or any Affiliate thereof.
(b) The Administrative Agent shall not be required to use, risk or advance its own gross negligence funds or willful misconductotherwise incur financial liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder. Without limitation on In no event shall the foregoingAdministrative Agent be liable, directly or indirectly, for any special, indirect, punitive or consequential damages, even if the Administrative Agent has been advised of the possibility of such damages and regardless of the form of action. The Administrative Agent shall not be responsible for delays or failures in performance resulting from acts beyond its control. Such acts may include acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after the fact, fire, communication line failures, computer viruses, power failures, earthquakes, terrorist attacks or other disasters.
(c) Notwithstanding any other provision of this Agreement or the other Loan Documents, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it with the consent or at the request or direction of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, to give such request or direction hereunder). The Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing. The Administrative Agent shall not be required to take any action that, in accordance with any advice its opinion or the opinion of such legal its counsel, accountants may expose the Administrative Agent to liability or other professionals or experts;
(c) Shall not be responsible that is contrary to any Lender for any statement, warranty Loan Document or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredapplicable law.
Appears in 2 contracts
Samples: Credit Agreement (Oscar Health, Inc.), Credit Agreement (Oscar Health, Inc.)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower Borrower, Parent or any Subsidiary of Borrower or Parent and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or any Guarantor of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower Borrower, Parent or any Subsidiary of BorrowerBorrower or Parent;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewiththerewith or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower or its Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Credit Agreement (West Marine Inc), Credit Agreement (West Marine Inc)
Liability of Administrative Agent. Neither NO RELATED PARTY OF THE ADMINISTRATIVE AGENT SHALL (A) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN), or (b) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by the Borrower or any Subsidiary or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with with, this Agreement or any other Loan Document, or the Loan Documentsvalidity, except for their own gross negligence effectiveness, genuineness, enforceability or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes sufficiency of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and any other professionals or experts selected by itLoan Document, or with legal counselfor the creation, accountants perfection or other professionals or experts for Borrower or priority of any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not Liens purported to be liable for any action taken or not taken created by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except , or the validity, genuineness, enforceability, existence, value or sufficiency of any collateral security, or to make any inquiry respecting the extent expressly set forth in performance by the Borrower of its obligations hereunder or under any other Loan DocumentsDocument, or for any failure of the Borrower or any Subsidiary or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Related Party of the Administrative Agent shall have no duty be under any obligation to ask any Lender or Participant to ascertain or to inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the other Loan Documents Document, or to inspect any Propertythe properties, books or records of the Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to or any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredAffiliate thereof.
Appears in 2 contracts
Samples: Credit Agreement (Atlas Growth Partners, L.P.), Credit Agreement (Atlas Growth Partners, L.P.)
Liability of Administrative Agent. Neither the Administrative --------------------------------- Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. ------ Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal --------- counsel), accountants (including in-house accountants) and other --------- professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan ------ Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, --------- interest, commitment fees, Advances and other amounts; provided that, -------- promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Revolving Loan Agreement (Wild Oats Markets Inc), Revolving Loan Agreement (Callaway Golf Co /Ca)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its Affiliates nor any of their respective directors, officers, agents or employees shall be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Banks or, where required by the terms of this Agreement, all of the Banks, or (ii) in the absence of its own gross negligence or willful misconduct. Except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall be deemed not to have knowledge of any Default (other than a Default under Section 6.1(a) with respect to the payment of principal, interest, facility fees or Letter of Credit Fees) unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Bank. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable responsible for or have any action taken duty to ascertain, inquire into or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
verify (ai) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any borrowing hereunder or the contents of the Loan Documents;
any report or certificate delivered hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article III, except receipt of items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or genuineness of this Agreement, the other Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing (which may be sent by electronic means) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it in good faith to be made by the proper Person, and shall not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredrelying thereon.
Appears in 2 contracts
Samples: Credit Agreement (Kilroy Realty, L.P.), Revolving Credit Agreement (Kilroy Realty, L.P.)
Liability of Administrative Agent. Neither (a) The Administrative Agent, when acting on behalf of the Lenders, may execute any of its respective duties under this Agreement by or through any of its respective officers, agents, and employees, and neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Affiliates shall be liable to the Lenders or any of them for any action taken or not omitted to be taken by in good faith, or be responsible to the Lenders or to any of them under for the consequences of any oversight or in connection with error of judgment, or for any loss, unless the Loan Documents, except for their own same shall happen through its gross negligence or willful misconduct. Without limitation on the foregoing, the The Administrative Agent and its respective directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, Affiliates shall in form satisfactory no event be liable to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment Lenders or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable them for any action taken or not omitted to be taken by it them pursuant to instructions received by them from the Required Lenders or in good faith in accordance with any reliance upon the advice of such legal counselcounsel selected by the Administrative Agent. Without limiting the foregoing, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statementneither the Administrative Agent, warranty or representation made in nor any of the Loan Documents its respective directors, officers, employees, agents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, Affiliates shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value enforceability of, or for any statement, warranty, or representation in, this Agreement, any Loan Document or any related agreement, document or order, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of the terms, conditions, covenants, or agreements of this Agreement or any of the Loan DocumentDocuments.
(b) Neither the Administrative Agent nor any of its respective directors, officers, employees, agents or Affiliates shall have any other instrument responsibility to the Borrower on account of the failure or writing furnished pursuant thereto delay in performance or breach by any Lender or by the Borrower of any of their respective obligations under this Agreement or any of the Loan Documents or in connection herewith or therewith;.
(fc) Will not incur The Administrative Agent, in its capacity as Administrative Agent hereunder, shall be entitled to rely on any liability by acting communication, instrument, or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a person or persons believed by it to be the proper party person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable persons, and the Administrative Agent shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 2 contracts
Samples: Term Loan and Revolving Credit Agreement (Federal Mogul Corp), Term Loan and Revolving Credit Agreement (Federal-Mogul Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-in house legal counsel), accountants (including in-in house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates the Consolidated Group or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or the Loan Parties of any of the terms, conditions (except to ascertain that documents facially responsive to the requirements of Section 6.1(a) have been delivered) or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowerthe Loan Parties;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and;
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any other Loan Party thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or the other Loan Parties shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred; and
(h) Have not made nor do they now make any representations or warranties, express or implied, nor do they assume any liability to the Lenders, with respect to the creditworthiness or financial condition of the Consolidated Group, the value of their respective assets or the collectability of the Loans.
Appears in 2 contracts
Samples: Secured Acquisition and Construction Loan Agreement (BioMed Realty Trust Inc), Secured Acquisition and Construction Loan Agreement (BioMed Realty Trust Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its Affiliates nor any of their respective directors, officers, agents or employees shall be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Banks or, where required by the terms of this Agreement, all of the Banks, or (ii) in the absence of its own gross negligence or willful misconduct. Except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall be deemed not to have knowledge of any Default (other than a Default under Section 6.1(a) with respect to the payment of principal or interest) unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Bank. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable responsible for or have any action taken duty to ascertain, inquire into or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
verify (ai) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any borrowing hereunder or the contents of the Loan Documents;
any report or certificate delivered hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article III, except receipt of items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or genuineness of this Agreement, the other Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing (which may be sent by electronic means) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it in good faith to be made by the proper Person, and shall not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredrelying thereon.
Appears in 2 contracts
Samples: Term Loan Agreement (Kilroy Realty, L.P.), Credit Agreement (Kilroy Realty, L.P.)
Liability of Administrative Agent. Neither (a) The Administrative Agent, when acting on behalf of the Lenders, may execute any of its respective duties under this Agreement by or through any of its respective officers, agents, and employees, and neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Affiliates shall be liable to the Lenders or any of them for any action taken or not omitted to be taken by in good faith, or be responsible to the Lenders or to any of them under for the consequences of any oversight or in connection with error of judgment, or for any loss, unless the Loan Documents, except for their own same shall happen through its gross negligence or willful misconduct. Without limitation on the foregoing, the The Administrative Agent and its respective directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, Affiliates shall in form satisfactory no event be liable to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment Lenders or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable them for any action taken or not omitted to be taken by it them pursuant to instructions received by them from the Required Lenders or in good faith in accordance with any reliance upon the advice of such legal counselcounsel selected by it. Without limiting the foregoing, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statementneither the Administrative Agent, warranty or representation made in nor any of the Loan Documents its respective directors, officers, employees, agents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, Affiliates shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value enforceability of, or for any statement, warranty, or representation in, this Agreement, any Loan Document or any related agreement, document or order, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrowers or the Guarantors of any of the terms, conditions, covenants, or agreements of this Agreement or any of the Loan DocumentDocuments.
(b) Neither the Administrative Agent nor any of its respective directors, officers, employees, agents or Affiliates shall have any other instrument responsibility to the Borrowers on account of the failure or writing furnished pursuant thereto delay in performance or breach by any Lender or by the Borrowers or the Guarantors of any of their obligations under this Agreement or any of the Loan Documents or in connection herewith or therewith;.
(fc) Will not incur The Administrative Agent, in its capacity as Administrative Agent hereunder, shall be entitled to rely on any liability communication, instrument, or document reasonably believed by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it such person to be genuine or correct and to have been signed or sent by a person or persons believed by such person to be the proper party person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable persons, and such person shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of professional advisers and experts selected by such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredperson.
Appears in 2 contracts
Samples: Revolving Credit and Guaranty Agreement (Bethlehem Steel Corp /De/), Revolving Credit and Guaranty Agreement (Bethlehem Steel Corp /De/)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower other Obligor and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or any other Obligor of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or any Property, books or records of Borrower or any Subsidiary of Borrowerother Obligor;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any Collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any other Obligor or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or any other applicable Obligor shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Credit Agreement (Keystone Automotive Industries Inc), Credit Agreement (New Horizons Worldwide Inc)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the Loan other Credit Documents, except for their own gross negligence or willful misconduct. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, whether a Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Credit Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Credit Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Credit Document or applicable law; and
(c) shall not, except as expressly set forth herein and in the other professionals or experts Credit Documents, have any duty to disclose, and shall not be liable for Borrower the failure to disclose, any information relating to the Applicant Party or any Subsidiary of Borrower and/or its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of their its Affiliates or the Lenders, and in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 6.02 and 8.05) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any advice of Default unless and until notice describing such legal counselDefault is given to the Administrative Agent by the Applicant Party, accountants a Lender or other professionals or experts;
(c) Shall an Issuing Lender. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any other Credit Document, (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein or the occurrence of any of Default, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Documentthis Agreement, any other Credit Document or any other agreement, instrument or writing furnished pursuant thereto document or (v) the satisfaction of any condition set forth in connection therewith;
(f) Will not incur any liability by acting Article III or not acting in reliance upon any Loan Documentelsewhere herein, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Revolving Performance Letter of Credit Facility Agreement (Fluor Corp), Letter of Credit Facility Agreement (Fluor Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Banks or (ii) in accordance with the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any advice of such legal counselits directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the Loan Documents;
borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Section 7, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith; and the Administrative Agent makes no representation of any kind or character with respect to any such matter mentioned in this sentence. The Administrative Agent may execute any of its duties hereunder or under the Notes by or through employees, agents, and attorneys-in-fact and shall not be answerable to the Banks, the Borrower, or any other Person for the default or misconduct of any such agents or attorneys-in- fact selected with reasonable care. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, request or statement, request (whether written or oral) or other instrument or writing documents believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; parties and
, in the case of legal matters, in relying on the advice of counsel (g) Will not incur including counsel for the Borrower). In particular and without limiting any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computationthe foregoing, the Administrative Agent, Agent shall have no responsibility for confirming the Lenders accuracy of any compliance certificate or other document or instrument received by it hereunder or under the Notes. The Administrative Agent may treat the Banks that are named herein as the holders of the Notes and (the indebtedness contemplated herein unless and until the Administrative Agent receives notice of the assignment of the Note and the indebtedness held by a Bank hereunder pursuant to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredan assignment contemplated by Section 12.12 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Maytag Corp), Credit Agreement (Maytag Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection with the Loan Documents, except that Administrative Agent shall be liable with respect to its specific duties set forth hereunder, but only to the extent of its own gross negligence or willful misconduct in accordance with the discharge thereof as determined by a final non-appealable judgment of a court of competent jurisdiction. Neither Administrative Agent nor any advice of such legal counselits directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
Document or any borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements specified in any Loan Document; (iii) the satisfaction of any of condition specified in any Loan Document; (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value genuineness of any Loan Document, any Lien purported to be created or perfected thereby or any other instrument or writing furnished pursuant thereto or in connection therewith;
; (fv) Will the existence or non-existence of any Default or Event of Default; or (vi) the financial condition of Borrower. Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, telex, facsimile or writing electronic transmission or similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . Administrative Agent shall not incur any liability be liable for any arithmetical apportionment or distribution of payments made by it in good faith and if any such apportionment or distribution is subsequently determined to have been made in error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from the sole recourse of any Lender under to whom payment was due but not made, shall be to recover from other Lenders any Loan Document, including principal, interest, commitment fees, Advances payment in excess of the amount to which they are determined to be entitled (and such other amounts; provided that, promptly upon discovery of Lenders hereby agree to return to such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make Lender any such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurrederroneous payments received by them).
Appears in 2 contracts
Samples: Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co)
Liability of Administrative Agent. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein, and its duties hereunder shall be administrative in nature. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in accordance with the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any advice of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the Loan Documents;
borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
herewith. The Administrative Agent shall not (fA) Will be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (B) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise as directed in writing by such number or percentage of the Lenders as shall be expressly provided for herein; provided that the Administrative Agent shall not be required to take any action that, in its good faith opinion or the opinion of its counsel, is contrary to this Agreement or Applicable Law; and (C) except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, facsimile or writing similar writing) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery . Without limiting the generality of such an error in computationthe foregoing, the Administrative Agent, use of the Lenders and (term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any Applicable Law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Duke Energy Florida, Llc.), Term Loan Credit Agreement (Duke Energy CORP)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its respective directors, officers, agents, or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its respective directors, officers, agents, employees and attorneysemployees:
(a) May may treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, thereof in form satisfactory to the Administrative Agent, signed by the payee, payee and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations obligations due to Banks for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May may consult with legal counsel (including counsel, in-house legal counsel), accountants (including independent public accountants, in-house accountants) accountants and other professionals professionals, or other experts selected by it, or with legal counsel, accountants independent public accountants, or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the LendersBorrower, and shall not be liable for any action taken or not taken by it or them in good faith in accordance with any the advice of such legal counsel, accountants or other professionals independent public accountants, or experts;
(c) Shall will not be responsible to any Lender Bank for any statement, warranty warranty, or representation made in any of the Loan Documents or in any notice, certificate, report, request request, or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except except to the extent expressly set forth in the Loan Documents, shall will have no duty to ask ascertain or inquire as to the performance or observance by Borrower or any other Person of any of the terms, conditions conditions, or covenants of any of the Loan Documents or to inspect any Propertythe property, books books, or records of Borrower or any Subsidiary of Borrowerits Subsidiaries or other Person;
(e) Will will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it or them to be genuine and signed or sent by the proper party or parties; and
(g) Will will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan DocumentBank hereunder, including principalwithout limitation payment of principal and interest on the Notes, interest, payment of commitment fees, Advances Loans, and other amounts; provided that, that promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks, and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Term Loan Agreement (Kaufman & Broad Home Corp), Revolving Loan Agreement (Kaufman & Broad Home Corp)
Liability of Administrative Agent. Neither the NO AGENT-RELATED PERSON SHALL (A) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE, BAD FAITH, OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN), or (B) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by Borrower or any Guarantor or any officer thereof, contained herein or in any other Credit Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with with, this Agreement or any other Credit Document, or the Loan Documentsvalidity, except for their own gross negligence effectiveness, genuineness, enforceability or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes sufficiency of this Agreement until or any other Credit Document, or for the Administrative Agent receives notice creation, perfection or priority of any Liens purported to be created by any of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by itCredit Documents, or with legal counselthe validity, accountants genuineness, enforceability, existence, value or sufficiency of any collateral security, or to make any inquiry respecting the performance by the Borrower of its obligations hereunder or under any other professionals Credit Document, or experts for any failure of Borrower or any Subsidiary of Borrower and/or Guarantor or any of their Affiliates other party to any Credit Document to perform its obligations hereunder or the Lenders, and thereunder. No Agent-Related Person shall not be liable for under any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible obligation to any Lender for any statement, warranty or representation made in any of the Loan Documents participant to ascertain or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the Loan Documents other Credit Document, or to inspect any Propertythe properties, books or records of the Borrower or any Subsidiary of Borrower;
(e) Will not Guarantor or any Affiliate thereof. No Agent-Related Person shall be responsible for or have any duty to any Lender for ascertain or inquire into the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value utilization of any Loan Document, Issuing Bank’s Letter of Credit Commitment (it being understood and agreed that each Issuing Bank shall monitor compliance with its own Letter of Credit Commitment without any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability further action by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred).
Appears in 2 contracts
Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Affiliates shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in connection with the Loan Documents (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with any advice Section 8.01 and Article VI or (ii) to the extent of its own gross negligence or willful misconduct in the discharge thereof (the absence of such legal counselgross negligence and willful misconduct to be presumed unless otherwise determined by a final non-appealable judgment of a court of competent jurisdiction). The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof (stating that it is a “notice of default”) describing such Default is given to the Administrative Agent in writing by the Borrower or a Lender. Neither the Administrative Agent nor any of its directors, accountants officers, agents, employees or other professionals or experts;
(c) Shall not Affiliates shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any Loan Document or any borrowing hereunder; (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith; (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein; (iv) the satisfaction of any of condition specified in any Loan Document; (v) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value genuineness of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it Lien purported to be genuine and signed created or sent by perfected thereby or any other agreement, instrument, document or writing; (vi) the proper party occurrence, existence or partiesnon-existence of any Default or Event of Default; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.or
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
Liability of Administrative Agent. (a) The Administrative Agent, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent nor its directors, officers, agents, or employees shall be liable to the Lenders or any of them for any action taken or omitted to be taken in good faith, or be responsible to the Lenders or to any of them for the consequences of any oversight or error of judgment, or for any loss, unless the same shall happen through its gross negligence or willful misconduct. The Administrative Agent and its directors, officers, agents, and employees shall in no event be liable to the Lenders or to any of them for any action taken or omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in reliance upon the advice of counsel selected by it. Without limiting the foregoing, neither the Administrative Agent nor any of its directors, officers, employees, or agents shall be responsible to any of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty, or representation in, or for the perfection of any security interest contemplated by, this Agreement or any related agreement, document or order, or for the designation or failure to designate this transaction as a “Highly Leveraged Transaction” for regulatory purposes, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of the terms, conditions, covenants, or agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent nor any of its directors, officers, agentsemployees, employees or attorneys agents shall be liable for have any action taken responsibility to the Borrower on account of the failure or not taken delay in performance or breach by them any of the Lenders or the Borrower of any of their respective obligations under this Agreement or any related agreement or document or in connection with the Loan Documents, except for their own gross negligence herewith or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;therewith.
(c) Shall not be responsible to any Lender for any statementThe Administrative Agent, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documentssuch capacity hereunder, shall have no duty be entitled to ask rely on any communication, instrument, or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable Persons, and it shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 2 contracts
Samples: Interim Term Loan Agreement (Wyndham Worldwide Corp), Interim Term Loan Agreement (Realogy Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Borrowers and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower Parent or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower Parent or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability to any Lender by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Borrowers or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower Borrowers and/or their Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Term Loan Agreement (Station Casinos Inc), Reducing Revolving Loan Agreement (Station Casinos Inc)
Liability of Administrative Agent. (a) The Administrative Agent, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent nor its directors, officers, agents, employees or affiliates shall be liable to the Lenders or any of them for any action taken or omitted to be taken in good faith, or be responsible to the Lenders or to any of them for the consequences of any oversight or error of judgment, or for any loss, unless the same shall happen through its gross negligence or willful misconduct. The Administrative Agent and its directors, officers, agents, employees and affiliates shall in no event be liable to the Lenders or to any of them for any action taken or omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in reliance upon the advice of counsel selected by it. Without limiting the foregoing, neither the Administrative Agent nor any of its directors, officers, employees, agents or affiliates shall be responsible to any of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty, or representation in, or for the perfection of any security interest contemplated by, this Agreement or any related agreement, document or order, or for the designation or failure to designate this transaction as a "Highly Leveraged Transaction" for regulatory purposes, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of the terms, conditions, covenants, or agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent nor any of its directors, officers, agentsemployees, employees agents or attorneys affiliates shall be liable for have any action taken responsibility to the Borrower on account of the failure or not taken delay in performance or breach by them any of the Lenders or the Borrower of any of their respective obligations under this Agreement or the Term Notes or any related agreement or document or in connection with the Loan Documents, except for their own gross negligence herewith or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;therewith.
(c) Shall not The Administrative Agent in such capacity hereunder shall be responsible entitled to rely on any Lender for any statementcommunication, warranty instrument, or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable Persons, and it shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 2 contracts
Samples: Term Loan Agreement (Cendant Corp), Term Loan Agreement (Cendant Corp)
Liability of Administrative Agent. (a) The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Credit Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent:
(i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing;
(ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Credit Documents that the Administrative Agent is required to exercise as directed in writing by the Required Banks (or such other number or percentage of the Banks as shall be expressly provided for herein or in the other Credit Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Credit Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any bankruptcy, insolvency, reorganization, liquidation or similar proceeding or that may effect a forfeiture, modification or termination of property of a Defaulting Bank in violation of any bankruptcy, insolvency, reorganization, liquidation or similar proceeding; and
(iii) shall not, except as expressly set forth herein and in the other Credit Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries or Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.
(b) Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Banks (or, when expressly required hereby, such different number of Banks required to consent to or request such action or inaction) or (ii) in accordance with the absence of its own gross negligence or willful misconduct (such absence to be presumed unless otherwise determined by a court of competent jurisdiction by a final and non-appealable judgment). Neither the Administrative Agent nor any advice of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or any Borrowing hereunder; (ii) the contents of the Loan Documents or in any notice, certificate, report, request report or other statement (written or oral) given or made document delivered in connection with any of the Loan Documents;
Credit Document, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants of any agreements of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary Guarantor; (iv) the satisfaction of Borrower;
any condition specified in Article 3, except receipt of items required to be delivered to the Administrative Agent; or (ev) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (including any electronic message, Internet or writing intranet website posting or other distribution) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . The Administrative Agent also may rely upon any statement made to it orally or by telephone and reasonably believed by it to have been made by the proper Person, and shall not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery relying thereon. Without limiting the generality of such an error in computationthe foregoing, the Administrative Agent, use of the Lenders and (term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any applicable law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 2 contracts
Samples: Credit Agreement (Bread Financial Holdings, Inc.), Credit Agreement (Bread Financial Holdings, Inc.)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the other Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice whether an Event of the assignment Default or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, Unmatured Event of Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any bankruptcy, insolvency or similar law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any bankruptcy, insolvency or similar law; and
(c) shall not, except as expressly set forth herein and in the other professionals or experts Loan Documents, have any duty to disclose, and shall not be liable for Borrower the failure to disclose, any information relating to the Company or any Subsidiary of Borrower and/or its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of their its Affiliates or the Lenders, and in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 12.2 and 14.1) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any advice Event of Default or Unmatured Event of Default unless and until notice describing such legal counsel, accountants Event of Default or other professionals Unmatured Event of Default is given to the Administrative Agent by the Company or experts;
(c) Shall a Lender. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the Loan Documents or in any noticecovenants, certificate, report, request agreements or other statement (written terms or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly conditions set forth in herein or therein or the occurrence of any Event of Default or Unmatured Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, shall have no duty to ask (v) the value or inquire as to the performance or observance by Borrower sufficiency of any of collateral granted under the termsLoan Documents, conditions or covenants (vi) the satisfaction of any condition set forth in Section 11 or elsewhere herein, other than to confirm receipt of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Credit Agreement (Regal Rexnord Corp), Credit Agreement (Rexnord Corp)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the other Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, whether a Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and
(c) shall not, except as expressly set forth herein and in the other professionals or experts Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any Subsidiary of Borrower and/or its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of their its Affiliates or the Lenders, and in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 6.02 and 8.05) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any advice of Default unless and until notice describing such legal counselDefault is given to the Administrative Agent by the Borrower, accountants a Lender or other professionals or experts;
(c) Shall an Issuing Lender. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any other Loan Document, (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein or the occurrence of any of Default, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Documentthis Agreement, any other Loan Document or any other agreement, instrument or writing furnished pursuant thereto document or (v) the satisfaction of any condition set forth in connection therewith;
(f) Will not incur any liability by acting Article III or not acting in reliance upon any Loan Documentelsewhere herein, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Credit Agreement (Fluor Corp), Credit Agreement (Fluor Corp)
Liability of Administrative Agent. Neither None of the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Agent-Related Persons shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysany Agent-Related Person:
(a) May may treat each Person whose name is recorded in the payee of any Note Register as the holder thereof a Bank hereunder until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lendersuch Person’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, interests hereunder in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May may consult with legal counsel (including counsel, in-house legal counsel), accountants (including independent public accountants, in-house accountants) accountants and other professionals professionals, or other experts selected by it, or of with legal counsel, accountants independent public accountants, or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the LendersBorrower, and shall not be liable for any action taken or not taken by it in good faith in accordance with any the advice of such legal counsel, accountants or other professionals independent public accountants, or experts;
(c) Shall will not be responsible to any Lender Bank for any statement, warranty warranty, or representation made in any of the Loan Documents or in any notice, certificate, report, request request, or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except except to the extent expressly set forth in the Loan Documents, shall will have no duty to ask ascertain or inquire as to the performance or observance by the Borrower or any other Person of any of the terms, conditions conditions, or covenants of any of the Loan Documents or to inspect any Propertythe property, books books, or records of the Borrower or any Subsidiary of Borrowerits Subsidiaries or other Person;
(e) Will will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency sufficiency, or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; the Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Majority Banks and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Banks (for purposes of determining compliance with the conditions specified in Section 4.01, each Bank that has executed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter either sent by the Administrative Agent to such Bank for consent, approval, acceptance or satisfaction, or required thereunder to be consented to or approved by or acceptable or satisfactory to the Bank); and
(g) Will will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan DocumentBank hereunder, including principalwithout limitation payment of principal and interest hereunder, interest, payment of commitment fees, Advances Loans, and other amounts; provided that, that promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) the Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Avery Dennison Corporation), Revolving Credit Agreement (Avery Dennison Corporation)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender Creditor for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower any Obligor of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender Creditor for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and. -77-
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower any Obligor or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 2 contracts
Samples: Loan Agreement (Wheeling Land Development Corp), Loan Agreement (Wdra Food Service Inc)
Liability of Administrative Agent. Neither the Administrative --------------------------------- Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross ------ negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees agents and attorneysemployees:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May consult with legal counsel (including in-house legal --------- counsel), accountants (including in-house accountants) and other --------- professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrowerits Subsidiaries;
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, principal, interest, commitment --------- fees, Advances and other amounts; provided that, promptly upon discovery of -------- such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (MGM Grand Inc)
Liability of Administrative Agent. Neither The Administrative Agent shall exercise the same care to protect the interests of each Bank as it does to protect its own interests, so that so long as the Administrative Agent exercises such care it shall not be under any liability to any of the Banks, except for the Administrative Agent’s gross negligence or willful misconduct with respect to anything it may do or refrain from doing. Subject to the immediately preceding sentence, neither the Administrative Agent nor any of its directors, officers, agents, administrative agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith in accordance with its capacity as Administrative Agent. Without limiting the generality of the foregoing, neither the Administrative Agent nor any advice of such legal counselits directors, accountants officers, administrative agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify: (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement, any of the Loan Documents;
Security Document, or any borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Sections 3.1 or 3.2, except receipt of items required to be delivered to the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
Administrative Agent; (eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency enforceability or value genuineness of any Loan Documentthis Agreement, the Notes, any other Loan Document or Security Document or any other document or instrument or writing furnished pursuant thereto or executed and delivered in connection therewith;
with or as contemplated by this Agreement; (fv) Will the existence, value, collectibility or adequacy of the Collateral or any part thereof or the validity, effectiveness, perfection or relative priority of the liens and security interests of the Banks (through the Administrative Agent) therein; or (vi) the filing, recording, refiling, continuing or re-recording of any financing statement or other document or instrument evidencing or relating to the security interests or liens of the Banks (through the Administrative Agent) in the Collateral. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a bank wire, telecopy or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mac-Gray Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Revolving Loan Agreement (Usec Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;their Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Term Loan Agreement (Aztar Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-in house legal counsel), accountants (including in-in house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates the Loan Parties or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents, except to the extent such statement, warranty or representation is expressly made by the Administrative Agent;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or the Loan Parties of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowerthe Loan Parties;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewiththerewith (other than undertakings of the Administrative Agent in any instruments executed by the Administrative Agent ) or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and;
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any other Loan Party thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or the other Loan Parties shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred, including any adjustments to interest payments or accrued interest, if necessary; and
(h) Have not made nor do they now make any representations or warranties, express or implied, nor do they assume any liability to the Lenders, with respect to the creditworthiness or financial condition of the Loan Parties, the value of their respective assets or the collectability of the Loans.
Appears in 1 contract
Samples: Construction, Acquisition and Interim Loan Agreement (Glimcher Realty Trust)
Liability of Administrative Agent. (a) The Administrative Agent or any Affiliate thereof, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent, any Affiliate thereof nor their respective directors, officers, agents, or employees shall be liable to the Lenders or any of them for any action taken or omitted to be taken in good faith, or be responsible to the Lenders or to any of them for the consequences of any oversight or error of judgment, or for any loss, unless the same shall happen through its gross negligence or willful misconduct. The Administrative Agent, its Affiliates and their respective directors, officers, agents, and employees shall in no event be liable to the Lenders or to any of them for any action taken or omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in reliance upon the advice of counsel selected by it. Without limiting the foregoing, neither the Administrative Agent, its Affiliates nor any of their respective directors, officers, employees, or agents shall be responsible to any of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty, or representation in, or for the perfection or creation of any security interest contemplated by, this Agreement or any related agreement, document or order, or for the designation or failure to designate this transaction as a “Highly Leveraged Transaction” for regulatory purposes, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of the terms, conditions, covenants, or agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent nor any of its directors, officers, agentsemployees, employees or attorneys agents shall be liable for have any action taken responsibility to the Borrower on account of the failure or not taken delay in performance or breach by them any of the Lenders or the Borrower of any of their respective obligations under this Agreement or the Notes or any related agreement or document or in connection with the Loan Documents, except for their own gross negligence herewith or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;therewith.
(c) Shall not be responsible to any Lender for any statementThe Administrative Agent, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documentssuch capacity hereunder, shall have no duty be entitled to ask rely on any communication, instrument, or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will Persons, and it shall be entitled to rely on advice of legal counsel, independent public accountants, and other professional advisers and experts selected by it. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon; provided, that the foregoing shall not include any arithmetical error in computing any amount paid such oral or payable telephonic statements made by the Borrower or paid or payable any of its Affiliates. In determining compliance with any condition hereunder to or received or receivable from any Lender under any Loan Documentthe making of a Loan, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery that by its terms must be fulfilled to the satisfaction of such an error in computationa Lender, the Administrative Agent, Agent may presume that such condition is satisfactory to such Lender unless the Lenders and (Administrative Agent shall have received notice to the extent applicable) Borrower shall make contrary from such adjustments as are necessary to correct such error and to restore the parties Lender prior to the position that they would have occupied had the error not occurredmaking of such Loan.
Appears in 1 contract
Samples: Senior Asset Linked Revolving Credit Agreement (Cendant Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-in- house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Borrowers and/or any of their Affiliates Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower Borrowers or their Subsidiaries of any of the terms, conditions (except to ascertain that documents facially responsive to the requirements of Article 8 have been delivered) or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower Borrowers or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and;
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Borrowers or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower Borrowers and/or their Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred; and
(h) Have not made nor do they now make any representations or warranties, express or implied, nor do they assume any liability to the Banks, with respect to the creditworthiness or financial condition of the Borrowers, their respective partners or members or any of their respective Subsidiaries, the value of their respective assets or the collectability of the Loans.
Appears in 1 contract
Liability of Administrative Agent. Neither None of the Administrative Agent nor any of Agent, its affiliates and their respective directors, officers, agents, agents and employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders (or such different number of Lenders as any provision hereof expressly requires for such consent or request) or (ii) in accordance with the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any advice Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Borrower or a Lender. None of such legal counselthe Administrative Agent, accountants or other professionals or experts;
(c) Shall not its affiliates and their respective directors, officers, agents and employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or the borrowing hereunder; (ii) the contents of any of the Loan Documents certificate, report or other document delivered hereunder or thereunder or in any noticeconnection herewith or therewith, certificate, report, request or other statement (written or oraliii) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iv) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(ev) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Document, this Agreement or any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a facsimile or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper party or parties, and shall not incur any liability for relying thereon. In determining compliance with any arithmetical error in computing any amount paid or payable condition hereunder to the making of a Loan that by Borrower or paid or payable its terms must be fulfilled to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery the satisfaction of such an error in computationa Lender, the Administrative AgentAgent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. Without limiting the generality of the foregoing, the Lenders and (use of the term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any applicable law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 1 contract
Samples: 364 Day Senior Unsecured Term Loan Credit Agreement (Consolidated Edison Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house INCLUDING internal legal counsel), accountants (including in-house INCLUDING internal accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower the Company or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Company or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, collateral or the Property books or records of Borrower the Company or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Company or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances interest and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Creditors and (to the extent applicable) Borrower the Company or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Credit Agreement (Geologistics Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees agents and attorneysemployees:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrowerits Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any Collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (MGM Mirage)
Liability of Administrative Agent. Neither the --------------------------------- Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or ------ willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof there of until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house --------- legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower Borrower, Parent or any Subsidiary of Borrower or Parent and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the ------ Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower Borrower, Parent or any Subsidiary of BorrowerBorrower or Parent;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and --------- other amounts; provided that, promptly upon discovery of such an error in -------- computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Credit Agreement (West Marine Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its respective directors, officers, employees, agents, employees trustees, attorneys, Affiliates or attorneys advisors shall be liable as such for any action taken or not taken omitted by any of them under or in connection with the Loan Documents, except for their its or his own gross negligence or willful misconduct, or be responsible for any statement, warranty or representation herein or the contents of any document delivered in connection herewith, or be required to ascertain or to make any inquiry concerning the performance or observance by the Guarantor or any Other Applicant of any of the terms, conditions, covenants or agreements contained in any Facility Document. Without limitation The Administrative Agent shall not be responsible to the Lenders for the due execution, genuineness, validity, enforceability or effectiveness of this Agreement or any other Facility Documents, instruments or agreements. The Administrative Agent shall in all cases be fully protected in acting, or refraining from acting, in accordance with written instructions signed by the Required Lenders and, except as otherwise specifically provided herein, such instructions and any action or inaction pursuant thereto shall be binding on all the foregoingLenders. The Administrative Agent shall, in the absence of knowledge to the contrary, be entitled to rely on any instrument or document believed by it in good faith to be genuine and correct and to have been signed or sent by the proper person or persons. Neither the Administrative Agent and nor any of its respective directors, officers, agents, employees and attorneys:
(a) May treat or agents shall have any responsibility to the payee Guarantor or any Other Applicant on account of the failure of or delay in performance or breach by any Lender or Issuing Bank of any Note as the holder thereof until the Administrative Agent receives notice of its obligations hereunder or to any Lender or Issuing Bank on account of the assignment failure of or transfer thereof, delay in form satisfactory to performance or breach by any other Lender or Issuing Bank or the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower Guarantor or any Subsidiary Other Applicant of Borrower and/or any of their Affiliates respective obligations hereunder or under any other Facility Document or in connection herewith or therewith. The Administrative Agent may execute any and all duties hereunder by or through agents or employees and shall be entitled to rely upon the Lenders, advice of legal counsel selected by it with respect to all matters arising hereunder and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed suffered in good faith by it to be genuine and signed or sent by in accordance with the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery advice of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcounsel.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory satisfac- tory to the Administrative Agent, signed by that Lender;Bank.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals profes- sionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals pro- fessionals or experts;.
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicableapplicable Borrower and/or its Subsidiaries or Affiliates) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals profes sionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Revolving Loan Agreement (Usec Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;Bank.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicableapplicable Borrower and/or its Subsidiaries or Affiliates) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;Bank.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates and its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Affiliates of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Affiliates.
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower and/or its Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality of the foregoing (a) Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing, (b) Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that Administrative Agent is required to exercise in writing by the Required Lenders or the Required Syndicated Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 11.2), as the case may be, and (c) except as 79 expressly set forth herein, Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Borrower or any member of the Borrower Group or any of its directors, officers, agents, employees or attorneys shall be liable for any action taken their Subsidiaries that is communicated to or not taken obtained by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the bank serving as Administrative Agent and or any of its directors, officers, agents, employees and attorneys:
(a) May treat the payee of Affiliates in any Note as the holder thereof until the capacity. Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders or the Required Syndicated Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in good faith Section 11.2), as the case may be, or in accordance with the absence of its own gross negligence or willful misconduct. Administrative Agent shall be deemed not to have knowledge of any advice Default or Event of such legal counselDefault unless and until written notice thereof is given to Administrative Agent by Borrower or a Lender, accountants or other professionals or experts;
(c) Shall and Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement, (ii) the contents of any of the Loan Documents;
certificate, report or other document delivered hereunder or in connection herewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions or covenants of any of set forth herein, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuinenesseffectiveness or genuineness of this Agreement or any other agreement, effectivenessinstrument or document, sufficiency or value (v) the satisfaction of any Loan Documentcondition set forth in Section 5 or elsewhere herein, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-in- house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;their Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Credit Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in accordance with this Article 10 and in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Credit Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Credit Documents;.
(d) Except to the extent expressly set forth in the Loan Credit Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Credit Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Credit Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Credit Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Credit Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicableapplicable Borrower and/or its Subsidiaries or Affiliates) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Credit Agreement (Ducommun Inc /De/)
Liability of Administrative Agent. Neither None of the Administrative Agent nor any of Agent, its affiliates and their respective directors, officers, agents, agents and employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders (or such different number of Lenders as any provision hereof expressly requires for such consent or request) or (ii) in accordance with the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any advice Default unless and until notice describing such Default is given in writing to the Administrative Agent by any Borrower or a Lender. None of such legal counselthe Administrative Agent, accountants or other professionals or experts;
(c) Shall not its affiliates and their respective directors, officers, agents and employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or any borrowing or issuance of a Letter of Credit hereunder; (ii) the Loan Documents contents of any certificate, report or other document delivered hereunder or thereunder or in any noticeconnection herewith or therewith, certificate, report, request or other statement (written or oraliii) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of any Borrower; (iv) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(ev) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuinenesseffectiveness or genuineness of this Agreement, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a facsimile or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will . The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper party or parties, and shall not incur any liability for relying thereon. In determining compliance with any arithmetical error in computing any amount paid condition hereunder to the making of a Loan, or payable the issuance, extension, renewal or increase of a Letter of Credit, that by Borrower its terms must be fulfilled to the satisfaction of a Lender or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computationIssuing Lender, the Administrative AgentAgent may presume that such condition is satisfactory to such Lender or such Issuing Lender unless the Administrative Agent shall have received notice to the contrary from such Lender or such Issuing Lender prior to the making of such Loan or the issuance, extension, renewal or increase of such Letter of Credit. Without limiting the generality of the foregoing, the Lenders and (use of the term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any applicable law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 1 contract
Samples: Credit Agreement (Consolidated Edison Co of New York Inc)
Liability of Administrative Agent. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein, and its duties hereunder shall be administrative in nature. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in accordance with the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any advice of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the Loan Documents;
borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
herewith. The Administrative Agent shall not (fA) Will be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (B) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise as directed in writing by such number or percentage of the Lenders as shall be expressly provided for herein; provided that the Administrative Agent shall not be required to take any action that, in its good faith opinion or the opinion of its counsel, is contrary to this Agreement or applicable law; and (C) except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, facsimile or writing similar writing) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery . Without limiting the generality of such an error in computationthe foregoing, the Administrative Agent, use of the Lenders and (term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any applicable law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Banks (or such other number or percentage of the Banks as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 9.05 and Article 6) or, when expressly required hereby, all the Banks or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall be deemed not to have knowledge of any advice Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Company or a Bank. Neither the Administrative Agent nor any of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or the borrowing hereunder or other Loan Document; (ii) the contents of any of the Loan Documents;
certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, covenants or agreements of the Company or other terms or conditions set forth herein or covenants therein or the occurrence of any Default; (iv) the satisfaction of any condition specified in Article 3 or elsewhere herein, except receipt of items expressly required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(ev) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuinenesseffectiveness or genuineness of this Agreement, effectiveness, sufficiency any other Loan Document or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, e-mail, facsimile transmission or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: 364 Day Term Loan Credit Agreement (Rockwell Automation, Inc)
Liability of Administrative Agent. Neither --------------------------------- the Administrative Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or not taken by it, him or her in connection herewith (a) with the consent or at the request of the Required Banks or (b) in the absence of its, his or her own gross negligence or willful misconduct. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable responsible for or have any action taken duty to ascertain, inquire into or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
verify (ai) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in connection with this Agreement or any borrowing hereunder, (ii) the contents of the Loan Documents any certificate, report or other document delivered hereunder or in any noticeconnection herewith, certificate, report, request or other statement (written or oraliii) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants or agreements of the Company or any Eligible Subsidiary, conditions or covenants (iv) the satisfaction of any condition specified in Article III, except receipt of items required to be delivered to the Loan Documents Administrative Agent, or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(ev) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Document, this Agreement or any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a bank wire, telecopy or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid . The Administrative Agent shall be entitled to assume that no Default has occurred and is continuing, unless the Administrative Agent has actual knowledge, or payable has been notified by Borrower or paid or payable to or received or receivable from any Lender under any Loan Documentthe Company, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such Default, or has been notified by a Bank or an error Issuing Bank that such Bank or such Issuing Bank considers that such Default (specifying in computation, detail the Administrative Agent, the Lenders nature thereof) has occurred and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredis continuing.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys No Agent-Related Person shall (a) be liable for any action taken or not omitted to be taken by them it under or in connection with this Agreement or any other Loan Document or the Loan Documentstransactions contemplated hereby (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, except for their or as such Agent-Related Person shall believe in good faith shall be necessary, under the circumstances as provided in Sections 10.02 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct. Without limitation on the foregoingmisconduct in connection with its duties expressly set forth herein, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by any Loan Party or representation made in any of the Loan Documents officer thereof, contained herein or in any noticeother Loan Document, or in any certificate, report, request statement or other statement (written document referred to or oral) given provided for in, or made received by the Administrative Agent under or in connection with with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of any Loan Party or any other party to any Loan Document to perform its obligations hereunder or thereunder, or (c) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that such Agent-Related Person is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents;
(d) Except ), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the extent expressly set forth in opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Documents, Document or applicable law. No Agent-Related Person shall have no duty be under any obligation to ask any Lender or participant to ascertain or to inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the other Loan Documents Document, or to inspect any Propertythe properties, books or records of Borrower any Loan Party or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredAffiliate thereof.
Appears in 1 contract
Samples: Revolving Credit Agreement (Keystone Automotive Operations Inc)
Liability of Administrative Agent. Neither the (a) Administrative Agent nor shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, Administrative Agent:
(i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;
(ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that Administrative Agent is required to exercise as directed in writing by Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under the Bankruptcy Code or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of the Bankruptcy Code; and
(iii) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or its Subsidiaries or any of their Affiliates that is communicated to or obtained by the Person serving as Administrative Agent or any of its directors, officers, agents, employees or attorneys shall be liable for Affiliates in any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;capacity.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Banks as shall be necessary, or as Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 9.02 and 11.01) or (ii) in the absence of its own gross negligence or willful misconduct. Administrative Agent shall be deemed not to have knowledge of any advice of Default unless and until notice describing such legal counsel, accountants Default is given to Administrative Agent by Borrower or other professionals or experts;a Lender.
(c) Shall Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any other Loan Document, (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein or the occurrence of any of Default, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Documentthis Agreement, any other Loan Document or any other agreement, instrument or writing furnished pursuant thereto document or (v) the satisfaction of any condition set forth in connection therewith;
(f) Will not incur any liability by acting Article V or not acting in reliance upon any Loan Documentelsewhere herein, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys (a) No Agent-Related Person shall (i) be liable for any action taken or not omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the Loan Documents, transactions contemplated hereby (except for their its own gross negligence or willful misconduct. Without limitation on the foregoingmisconduct in connection with its duties expressly set forth herein), or (ii) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by any Loan Party or any of its Affiliates or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent and its directorsunder or in connection with, officersthis Agreement or any other Loan Document, agentsor the validity, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment effectiveness, genuineness, enforceability or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes sufficiency of this Agreement until or any other Loan Document, or for any failure of FSEP, any Loan Party or any Subsidiary of a Loan Party to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lender or participant to ascertain or to inquire as to the Administrative Agent receives notice observance or performance of any of the assignment agreements contained in, or transfer conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of any Loan Party or any Affiliate thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and The Administrative Agent shall have no obligation whatsoever to the Lenders or to any other professionals Person to assure that the Collateral exists or experts selected is owned by ita Loan Party or FSEP, or with legal counselis cared for, accountants protected or other professionals insured or experts for Borrower that the Liens Granted to the Administrative Agent herein or pursuant hereto have been properly or sufficiently or lawfully created, perfected, protected or enforced or are entitled to any Subsidiary particular priority, or to exercise or to continue exercising at all or in any manner or under any duty of Borrower and/or care, disclosure or fidelity any of their Affiliates the rights, authorities and powers granted or available to the Lenders, and shall not be liable for any action taken Administrative Agent hereunder or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents Documents, it being understood and agreed that in respect of the Collateral, or any act, omission or event related thereto, the Administrative Agent may act in any noticemanner it may deem appropriate, certificatein its reasonable discretion, report, request or other statement (written or oral) given or made the Administrative Agent’s own interest in connection with any the Collateral as one of the Loan Documents;
(d) Except to Lenders and that the extent expressly set forth in the Loan Documents, Administrative Agent shall have no duty to ask or inquire as liability whatsoever to the performance or observance by Borrower of any of the termsLenders, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (except to the extent applicable) Borrower shall make such adjustments resulting from its gross negligence or willful misconduct as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredfinally determined by a court of competent jurisdiction.
Appears in 1 contract
Samples: Term Loan and Security Agreement (FS Energy & Power Fund)
Liability of Administrative Agent. Neither the Administrative Agent or the Lead Arranger and Sole Book Manager nor any of its their Affiliates, directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its Affiliates, directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;Bank.
(b) May consult with legal counsel (including in-in- house legal counsel), accountants (including in-in- house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower and/ or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower and/ or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. (a) The Administrative Agent, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent nor its directors, officers, agents, or employees shall be liable to the Lenders or any of them for any action taken or omitted to be taken in good faith, or be responsible to the Lenders or to any of them for the consequences of any oversight or error of judgment, or for any loss, unless the same shall happen through its gross negligence or willful misconduct as determined by a final and non-appealable judgment of a court of competent jurisdiction. The Administrative Agent and its directors, officers, agents, and employees shall in no event be liable to the Lenders or to any of them for any action taken or omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in reliance upon the advice of counsel selected by it. Without limiting the foregoing, neither the Administrative Agent nor any of its directors, officers, employees, or agents shall be responsible to any of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty, or representation in, or for the perfection of any security interest contemplated by, this Agreement or any related agreement, document or order, or for the designation or failure to designate this transaction as a “Highly Leveraged Transaction” for regulatory purposes, or shall be required to ascertain or to make any inquiry concerning the performance or observance by the Borrower of any of the terms, conditions, covenants, or agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent nor any of its directors, officers, agentsemployees, employees or attorneys agents shall be liable for have any action taken responsibility to the Borrower on account of the failure or not taken delay in performance or breach by them any of the Lenders or the Borrower of any of their respective obligations under this Agreement or any related agreement or document or in connection with the Loan Documents, except for their own gross negligence herewith or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;therewith.
(c) Shall not be responsible to any Lender for any statementThe Administrative Agent, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documentssuch capacity hereunder, shall have no duty be entitled to ask rely on any communication, instrument, or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable Persons, and it shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative --------------------------------- Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without ------ limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees agents and attorneysemployees:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender Bank as the owner of that Lender’s Bank's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderBank;
(b) May consult with legal counsel (including in-house legal --------- counsel), accountants (including in-house accountants) and other --------- professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the LendersBanks, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender Bank for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrowerits Subsidiaries;
(e) Will not be responsible to any Lender Bank for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender Bank under any Loan Document, including including, principal, interest, commitment --------- fees, Advances and other amounts; provided that, promptly upon discovery of -------- such an error in computation, the Administrative Agent, the Lenders Banks and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals profes sionals or experts for Borrower or any Subsidiary of Borrower the Borrowers and/or any of their Affiliates respective Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or expertsexperts selected by it with reasonable care;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan DocumentsDocuments except for those expressly made by it;
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Borrowers or their respective Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of any Borrower or of any Subsidiary of any Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing reasonably believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Borrowers or any Subsidiary or Affiliate of any of the Borrowers or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower the Borrowers and/or their Subsidiaries or Affiliates shall make such adjustments as are necessary neces sary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals profes- sionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Revolving Loan Agreement (Usec Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any Related Party of its directors, officers, agents, employees or attorneys Administrative Agent shall (a) be liable to any Lender for any action taken or not omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the Loan Documentstransactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary), except for their or as Administrative Agent shall believe in good faith shall be necessary or (ii) in the absence of its own gross negligence or willful misconduct. Without limitation on the foregoingmisconduct as determined by a court of competent jurisdiction by final and nonappealable judgment, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible in any manner to any Lender for any recital, statement, representation or warranty made by Borrower, Guarantor, any subsidiary or Affiliate of Borrower or Guarantor, or any other Person, or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of Borrower or any other party to any Loan Document to perform its obligations hereunder or thereunder. Neither Administrative Agent nor any Related Party of Administrative Agent shall be under any obligation to any Lender or participant or any other Person to inspect the properties, books or records of Borrower, Guarantor, any of their Related Parties or any other Person, or to ascertain or inquire into (u) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (v) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (w) the performance or observance of any of the Loan Documents or in any noticecovenants, certificate, report, request agreements or other statement (written terms or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly conditions set forth in herein or therein or the occurrence of any Default, (x) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Loan Documents, shall have no duty to ask (y) the value or inquire as to the performance or observance by Borrower sufficiency of any of Collateral, or (z) the terms, conditions or covenants satisfaction of any condition set forth herein or therein, other than to confirm receipt of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (Skechers Usa Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house INCLUDING internal legal counsel), accountants (including in-house INCLUDING internal accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower the Company or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Company or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, collateral or the Property books or records of Borrower the Company or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Company or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Co-Agents, the Lenders and (to the extent applicable) Borrower the Company or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (Bekins Co /New/)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall Shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrowerits Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (Anchor Gaming)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of 110 the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Borrowers and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower Parent or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower Parent or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability to any Lender by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower the Borrowers or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower Borrowers and/or their Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Reducing Revolving and Term Loan Agreement (Station Casinos Inc)
Liability of Administrative Agent. Neither NO AGENT-RELATED PERSON SHALL (A) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE, BAD FAITH, OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN), or (B) be responsible in any manner to any Lender or participant for any recital, statement, representation or warranty made by Borrower or the Parent or any officer thereof, contained herein or in any other Credit Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with with, this Agreement or any other Credit Document, or the Loan Documentsvalidity, except for their own gross negligence effectiveness, genuineness, enforceability or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes sufficiency of this Agreement until or any other Credit Document, or for the Administrative Agent receives notice creation, perfection or priority of any Liens purported to be created by any of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by itCredit Documents, or with legal counselthe 3rd Amended/Restated Credit Agreement validity, accountants genuineness, enforceability, existence, value or sufficiency of any collateral security, or to make any inquiry respecting the performance by the Borrower of its obligations hereunder or under any other professionals Credit Document, or experts for any failure of Borrower or the Parent or any Subsidiary of Borrower and/or other party to any of their Affiliates Credit Document to perform its obligations hereunder or the Lenders, and thereunder. No Agent-Related Person shall not be liable for under any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible obligation to any Lender for any statement, warranty or representation made in any of the Loan Documents participant to ascertain or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the observance or performance or observance by Borrower of any of the termsagreements contained in, or conditions of, this Agreement or covenants of any of the Loan Documents other Credit Document, or to inspect any Propertythe properties, books or records of the Borrower or the Parent or any Subsidiary of Borrower;
(e) Will not Affiliate thereof. No Agent-Related Person shall be responsible for or have any duty to any Lender for ascertain or inquire into the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value utilization of any Loan Document, Issuing Bank’s Letter of Credit Commitment (it being understood and agreed that each Issuing Bank shall monitor compliance with its own Letter of Credit Commitment without any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability further action by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred).
Appears in 1 contract
Samples: Third Amended and Restated Credit Agreement (HF Sinclair Corp)
Liability of Administrative Agent. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein, and its duties hereunder shall be administrative in nature. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in accordance with the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any advice of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the Loan Documents;
borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
herewith. The Administrative Agent shall not (fA) Will be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (B) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise as directed in writing by such number or percentage of the Lenders as shall be expressly provided for herein or as expressly set forth in Section 8.01; provided that the Administrative Agent shall not be required to take any action that, in its good faith opinion or the opinion of its counsel, is contrary to this Agreement or applicable law; and (C) except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, facsimile or writing similar writing) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery . Without limiting the generality of such an error in computationthe foregoing, the Administrative Agent, use of the Lenders and (term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any applicable law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 1 contract
Samples: Credit Agreement (Duke Energy CORP)
Liability of Administrative Agent. Neither The Administrative Agent shall exercise the same care to protect the interests of each Bank as it does to protect its own interests, so that so long as the Administrative Agent exercises such care it shall not be under any liability to any of the Banks, except for the Administrative Agent's gross negligence or willful misconduct with respect to anything it may do or refrain from doing. Subject to the immediately preceding sentence, neither the Administrative Agent nor any of its directors, officers, agents, administrative agents or employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith in accordance with its capacity as Administrative Agent. Without limiting the generality of the foregoing, neither the Administrative Agent nor any advice of such legal counselits directors, accountants officers, administrative agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify: (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement, any of the Loan Documents;
Security Document, or any borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Sections 3.1 or 3.2, except receipt of items required to be delivered to the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
Administrative Agent; (eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency enforceability or value genuineness of any Loan Documentthis Agreement, the Notes, any other Loan Document or Security Document or any other document or instrument or writing furnished pursuant thereto or executed and delivered in connection therewith;
with or as contemplated by this Agreement; (fv) Will the existence, value, collectibility or adequacy of the Collateral or any part thereof or the validity, effectiveness, perfection or relative priority of the liens and security interests of the Banks (through the Administrative Agent) therein; or (vi) the filing, recording, refiling, continuing or re-recording of any financing statement or other document or instrument evidencing or relating to the security interests or liens of the Banks (through the Administrative Agent) in the Collateral. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request statement or other instrument writing (which may be a bank wire, telecopy or writing similar writing) believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mac-Gray Corp)
Liability of Administrative Agent. Neither the The Administrative Agent nor shall not have any of its directors, officers, agents, employees duties or attorneys shall be liable for any action taken or not taken by them under or obligations except those expressly set forth herein and in connection with the other Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on limiting the generality of the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneysAgent:
(a) May treat the payee shall not be subject to any fiduciary or other implied duties, regardless of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, whether a Default has occurred and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lenderis continuing;
(b) May consult with legal counsel shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (including in-house legal counselor such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), accountants (including in-house accountants) and other professionals provided that the Administrative Agent shall not be required to take any action that, in its opinion or experts selected by it, or with legal the opinion of its counsel, accountants may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and
(c) shall not, except as expressly set forth herein and in the other professionals Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any of the Borrowers or experts for Borrower or any Subsidiary of Borrower and/or any of their respective Affiliates that is communicated to or obtained by the Lenders, and Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in accordance with Sections 11.01 and 9.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any advice of Default unless and until notice describing such legal counselDefault is given to the Administrative Agent by the Company, accountants a Lender or other professionals or experts;
(c) Shall an L/C Issuer. The Administrative Agent shall not be responsible for or have any duty to any Lender for ascertain or inquire into (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any other Loan Document, (ii) the contents of the Loan Documents;
any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (diii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the termscovenants, agreements or other terms or conditions set forth herein or covenants therein or the occurrence of any of Default, (iv) the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Documentthis Agreement, any other Loan Document or any other agreement, instrument or writing furnished pursuant thereto document or (v) the satisfaction of any condition set forth in connection therewith;
(f) Will not incur any liability by acting Article V or not acting in reliance upon any Loan Documentelsewhere herein, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it than to confirm receipt of items expressly required to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable delivered to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. None of the Administrative Agent nor any of its officers, directors, employees, agents, attorneys in fact or affiliates shall have any duties or obligations except those expressly set forth herein, and its duties hereunder shall be administrative in nature. Neither the Administrative Agent nor any of its affiliates nor any of their respective directors, officers, agents, agents or employees or attorneys shall be liable for to any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in accordance with the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any advice of such legal counselits affiliates nor any of their respective directors, accountants officers, agents or other professionals or experts;
(c) Shall not employees shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the Loan Documents;
borrowing hereunder; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Loan Documents Administrative Agent; or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(eiv) Will not be responsible to any Lender for the due execution, legality, validity, enforceabilityeffectiveness or genuineness of this Agreement, genuineness, effectiveness, sufficiency the Notes or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
herewith. The Administrative Agent shall not (fA) Will be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (B) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise as directed in writing by such number or percentage of the Lenders as shall be expressly provided for herein or as expressly set forth in Section 8.01; provided that the Administrative Agent shall not be required to take any action that, in its good faith opinion or the opinion of its counsel, is contrary to this Agreement or applicable law; and (C) except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument writing (which may be a bank wire, facsimile or writing similar writing) believed by it in good faith by it to be genuine and or to be signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery . Without limiting the generality of such an error in computationthe foregoing, the Administrative Agent, use of the Lenders and (term “agent” in this Agreement with reference to the extent applicableAdministrative Agent is not intended to connote any fiduciary or other implied (or express) Borrower shall make obligations arising under agency doctrine of any Applicable Law. Instead, such adjustments term is used merely as are necessary a matter of market custom and is intended to correct such error and to restore the parties to the position that they would have occupied had the error not occurredcreate or reflect only an administrative relationship between independent contracting parties.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Duke Energy Florida, Llc.)
Liability of Administrative Agent. (a) Neither the Administrative Agent nor any of its directorsRelated Parties shall: ||| 4134-8371-6675.14134-8371-6675
(i) BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN BY ANY OF THEM UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (EXCEPT FOR ITS OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN CONNECTION WITH ITS DUTIES EXPRESSLY SET FORTH HEREIN AS DETERMINED BY A COURT OF COMPETENT JURISDICTION IN A FINAL AND NONAPPEALABLE JUDGMENT), officers, agents, employees or
(ii) be responsible in any manner to any Lender or attorneys shall be liable any other Person for any action taken recital, statement, representation or not taken warranty made by them the Borrower, any Guarantor or any officer thereof, contained herein or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the Administrative Agent under or in connection with with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for the creation, perfection or priority of any Liens purported to be created by any of the Loan Documents, except or the validity, genuineness, enforceability, existence, value or sufficiency of any Collateral, or to make any inquiry respecting the performance by the Borrower of its obligations hereunder or under any other Loan Document, or for their any failure of the Borrower, any Guarantor or any other party to any Loan Document to perform its obligations hereunder or thereunder. The Administrative Agent shall not be under any obligation to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Borrower, any of its Subsidiaries, any Guarantor or any Affiliate thereof.
(b) The Administrative Agent shall not be required to use, risk or advance its own gross negligence funds or willful misconductotherwise incur financial liability in the performance of any of its duties or the exercise of any of its rights and powers hereunder. Without limitation on In no event shall the foregoingAdministrative Agent be liable, directly or indirectly, for any special, indirect, punitive or consequential damages, even if the Administrative Agent has been advised of the possibility of such damages and regardless of the form of action. The Administrative Agent shall not be responsible for delays or failures in performance resulting from acts beyond its control. Such acts may include acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after the fact, fire, communication line failures, computer viruses, power failures, earthquakes, terrorist attacks or other disasters.
(c) Notwithstanding any other provision of this Agreement or the other Loan Documents, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it with the consent or at the request or direction of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, to give such request or direction hereunder). The Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default has occurred and is continuing. The Administrative Agent shall not be required to take any action that, in accordance with any advice its opinion or the opinion of such legal its counsel, accountants may expose the Administrative Agent to liability or other professionals or experts;
(c) Shall not be responsible that is contrary to any Lender for any statement, warranty Loan Document or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredapplicable law.
Appears in 1 contract
Samples: Credit Agreement (Boxed, Inc.)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that LenderXxxxxx’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that LenderXxxxxx;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note each Lender identified in its records as the holder thereof owner of its Pro Rata Share reflected in such records until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for the Tribe, the Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by the Tribe, the Borrower or any other Party of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower the Tribe or any Subsidiary of the Borrower;.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by the Borrower or any Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) the Borrower or its Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (Mississippi Band of Choctaw Indians Dba Choctaw RSRT DVLP E)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Borrowers and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Borrowers or their respective Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower the Borrowers or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any Collateral or the perfection of any Lien thereon;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by any Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances Loans and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) any Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Loan Agreement (Day Runner Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Parent and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower Parent or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower Parent or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower Parent, Borrowers or any Subsidiary thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicable, Parent and Borrowers) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender Creditor for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower any Obligor of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender Creditor for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower any Obligor or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. No Administrative Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Lenders or (ii) in the absence of its own gross negligence or willful misconduct. Neither the Administrative Agent nor any of its directors, officers, agents, agents or employees or attorneys shall be liable responsible for or have any action taken duty to ascertain, inquire into or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
verify (ai) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with this Agreement or any of the borrowing hereunder or any other Loan Documents;
Document; (dii) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants of any agreements of the Loan Documents or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of in any Loan Document; (iii) the satisfaction of any condition specified in Section 7, except receipt of items required to be delivered to the Administrative Agent; or (iv) the validity, effectiveness or genuineness of this Agreement or any other Loan Document or any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith or of the collectibility of the Obligations or the value, worth, priority, or perfection of the Collateral or the Liens provided for by the Loan Documents. The Administrative Agent shall not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or statement (whether written or oral) or other instrument or writing documents believed in good faith by it to be genuine and or to be signed or sent by the proper party or parties; parties and
, in the case of legal matters, in relying on the advice of counsel (g) Will including counsel for the Borrower). The Administrative Agent need not incur any liability for any arithmetical error verify the worth or existence of the Collateral and may rely exclusively on reports of the Borrower in computing any amount paid or payable by Borrower or paid or payable to or received or receivable from any Lender under any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Borrowing Base. The Administrative Agent, Agent may treat the Lenders that are named herein as the holders of the Loans and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.indebtedness contemplated herein.................................................................................................
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates Subsidiaries or the Lenders, and 92 shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or any Property, books or records of Borrower or any Subsidiary of Borrowertheir Subsidiaries;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith, or any collateral;
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys Related Parties shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable for any action taken or not taken by it in connection herewith (a) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith to be necessary, under the circumstances as provided in accordance with this Agreement) or (b) in the absence of its own gross negligence or willful misconduct or a material breach by the Administrative Agent of the express terms of this Agreement, as determined by a final judgment of a court of competent jurisdiction (so long as such determination has not been reversed or vacated on appeal); provided that the provisions of this sentence are for the sole benefit of the Administrative Agent and shall not release any advice Lender from liability it would otherwise have to the Borrower. The Administrative Agent shall be deemed not to have knowledge of such legal counselany Default unless and until written notice thereof (stating that it is a “notice of default”) is given to the Administrative Agent by the Borrower, accountants a Lender or other professionals or experts;
(c) Shall not an Issuing Bank, and neither the Administrative Agent nor any of its Related Parties shall be responsible for or have any duty to any Lender for ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or any Credit Event, (ii) the contents of the Loan Documents any certificate, report or other document delivered thereunder or in any noticeconnection therewith, certificate, report, request or other statement (written or oraliii) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower of any of the terms, conditions covenants or covenants agreements of the Borrower hereunder or the occurrence of any Default, (iv) the satisfaction of any condition specified in Article 3, except for confirmation of the Loan Documents receipt of items required to be delivered to the Administrative Agent, or to inspect any Property, books or records of Borrower or any Subsidiary of Borrower;
(ev) Will not be responsible to any Lender for the due execution, legalitysufficiency, validity, enforceability, genuineness, effectiveness, sufficiency effectiveness or value genuineness of any Loan Document, this Agreement or any other instrument or writing furnished pursuant thereto or in connection therewith;
(f) Will herewith. The Administrative Agent shall be entitled to rely, and shall not incur any liability by acting or not acting in reliance for relying, upon any Loan Documentnotice, noticerequest, certificate, consent, certificate, statement, request instrument, document or other instrument writing (including any electronic message, Internet or writing intranet website posting or other distribution) believed in good faith by it to be genuine and signed to have been signed, sent or sent otherwise authenticated by the proper party Person (whether or parties; and
(g) Will not such Person in fact meets the requirements for being the signatory, sender or authenticator thereof). The Administrative Agent also shall be entitled to rely, and shall not incur any liability for relying, upon any arithmetical error statement made to it orally or by telephone and believed by it to be made by the proper Person (whether or not such Person in computing fact meets the requirements for being maker thereof), and may act upon any amount paid or payable by Borrower or paid or payable such statement prior to or received or receivable from receipt of written confirmation thereof. In determining compliance with any Lender under condition hereunder to the making of any Loan Document, including principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computationCredit Event, the Administrative Agent, Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Lenders and (Administrative Agent shall have received notice to the extent applicable) Borrower shall make contrary from such adjustments as are necessary to correct such error and to restore the parties Lender or Issuing Bank sufficiently in advance to the position that they would have occupied had making of such Loan or the error not occurredissuance of such Letter of Credit.
Appears in 1 contract
Samples: Credit Agreement (Marathon Oil Corp)
Liability of Administrative Agent. Neither (a) The Administrative Agent, when acting on behalf of the Lenders may execute any of its duties under this Agreement by or through its officers, agents, or employees and neither the Administrative Agent nor any of its directors, officers, agents, or employees or attorneys shall be liable to the Lenders or any of them for any action taken or not omitted to be taken by in good faith, or be responsible to the Lenders or to any of them under for the consequences of any oversight or in connection with error of judgment, or for any loss, unless the Loan Documents, except for their own same shall happen through its gross negligence or willful misconduct. Without limitation on the foregoing, the The Administrative Agent and its respective directors, officers, agents, and employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, shall in form satisfactory no event be liable to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment Lenders or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates or the Lenders, and shall not be liable them for any action taken or not omitted to be taken by it pursuant to instructions received by it from the Required Lenders or in good faith in accordance with any reliance upon the advice of such legal counselcounsel selected by it. Without limiting the foregoing, accountants neither the Administrative Agent nor its directors, officers, employees, or other professionals or experts;
(c) Shall not agents shall be responsible to any Lender of the Lenders for the due execution, validity, genuineness, effectiveness, sufficiency, or enforceability of, or for any statement, warranty warranty, or representation made in in, or for the perfection of any of security interest contemplated by, this Agreement or any related agreement, document or order, or for the Loan Documents designation or in failure to designate this transaction as a “Highly Leveraged Transaction” for regulatory purposes, or shall be required to ascertain or to make any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to inquiry concerning the performance or observance by the Borrower of any of the terms, conditions conditions, covenants, or covenants agreements of this Agreement or any related agreement or document.
(b) Neither the Administrative Agent nor its directors, officers, employees, or agents shall have any responsibility to the Borrower on account of the failure or delay in performance or breach by any of the Lenders or the Borrower of any of their respective obligations under this Agreement or the Loan Documents or to inspect any Property, books or records of Borrower Notes or any Subsidiary of Borrower;
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency related agreement or value of any Loan Document, any other instrument or writing furnished pursuant thereto document or in connection herewith or therewith;.
(fc) Will not incur The Administrative Agent, in such capacity hereunder, shall be entitled to rely on any liability by acting communication, instrument, or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing document reasonably believed in good faith by it to be genuine or correct and to have been signed or sent by a Person or Persons believed by it to be the proper party Person or parties; and
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or paid or payable Persons, and it shall be entitled to or received or receivable from any Lender under any Loan Documentrely on advice of legal counsel, including principalindependent public accountants, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders professional advisers and (to the extent applicable) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurredexperts selected by it.
Appears in 1 contract
Samples: Term Loan Agreement (Cendant Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note Lender as the holder thereof a Lender until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower the Credit Parties and/or any of their Affiliates Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower the Company or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any the Property, books or records of Borrower the Company or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower any Credit Party or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment feesFacility Fees, Advances Loans and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower such Credit Party and/or its Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Credit Agreement (Science Applications International Corp)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any Collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any Collateral.
(f) Will not incur any liability to any Lender by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative Agent, the Lenders and (to the extent applicable) Borrower and/or their Subsidiaries or Affiliates shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Reducing Revolving Loan Agreement (Station Casinos Inc)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including in-house legal counsel), accountants (including inincludingin-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower or any Subsidiary or Affiliate thereof or paid or payable to or received or receivable from any Lender under any Loan Document, including including, without limitation, principal, interest, commitment fees, Advances and other amounts; provided that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicableapplicable Borrower and/or its Subsidiaries or Affiliates) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract
Samples: Capital Markets Term Loan Agreement (Mandalay Resort Group)
Liability of Administrative Agent. Neither the Administrative Agent nor any of its directors, officers, agents, employees or attorneys shall be liable for any action taken or not taken by them under or in connection with the Loan Documents, except EXCEPT for their own gross negligence or willful misconduct. Without limitation on the foregoing, the Administrative Agent and its directors, officers, agents, employees and attorneys:
(a) May treat the payee of any Note as the holder thereof until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by the payee, and may treat each Lender as the owner of that Lender’s 's interest in the Obligations for all purposes of this Agreement until the Administrative Agent receives notice of the assignment or transfer thereof, in form satisfactory to the Administrative Agent, signed by that Lender;.
(b) May consult with legal counsel (including INCLUDING in-house legal counsel), accountants (including INCLUDING in-house accountants) and other professionals or experts selected by it, or with legal counsel, accountants or other professionals or experts for Borrower or any Subsidiary of Borrower Parent and/or any of their Affiliates its Subsidiaries or the Lenders, and shall not be liable for any action taken or not taken by it in good faith in accordance with any advice of such legal counsel, accountants or other professionals or experts;.
(c) Shall not be responsible to any Lender for any statement, warranty or representation made in any of the Loan Documents or in any notice, certificate, report, request or other statement (written or oral) given or made in connection with any of the Loan Documents;.
(d) Except EXCEPT to the extent expressly set forth in the Loan Documents, shall have no duty to ask or inquire as to the performance or observance by Borrower Parent or its Subsidiaries of any of the terms, conditions or covenants of any of the Loan Documents or to inspect any collateral or the Property, books or records of Borrower Parent or any Subsidiary of Borrower;its Subsidiaries.
(e) Will not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, effectiveness, sufficiency or value of any Loan Document, any other instrument or writing furnished pursuant thereto or in connection therewith;, or any collateral.
(f) Will not incur any liability by acting or not acting in reliance upon any Loan Document, notice, consent, certificate, statement, request or other instrument or writing believed in good faith by it to be genuine and signed or sent by the proper party or parties; and.
(g) Will not incur any liability for any arithmetical error in computing any amount paid or payable by Borrower Parent, Borrowers or any Subsidiary thereof or paid or payable to or received or receivable from any Lender under any Loan -65- Document, including INCLUDING, without limitation, principal, interest, commitment fees, Advances and other amounts; provided PROVIDED that, promptly upon discovery of such an error in computation, the Administrative AgentCreditors (and, the Lenders and (to the extent applicable, Parent and Borrowers) Borrower shall make such adjustments as are necessary to correct such error and to restore the parties to the position that they would have occupied had the error not occurred.
Appears in 1 contract