Common use of Liability of the Issuing Agent Clause in Contracts

Liability of the Issuing Agent. This Letter of Credit is signed by the Issuing Agent solely as agent and mandatario con rappresentanza for the Lenders and the Issuing Agent makes no representation or warranty, express or implied, concerning, and accepts no responsibility for the legality, validity, effectiveness, adequacy or enforceability of this Letter of Credit or concerning its power to enter into this Letter of Credit on behalf of any Lender (except for itself as a Lender) and, accordingly, it shall not be liable for any cost, loss or expense sustained or incurred by the Beneficiary as a result of any present or future total or partial invalidity, illegality or unenforceability affecting this Letter of Credit or the failure of any Lender (except for itself as a Lender, if applicable) to be bound by its terms.