Liability of the Lenders. The Borrower assumes all risks of the acts or omissions of each beneficiary or transferee of the Letters of Credit with respect to their use of the Letters of Credit. None of the Issuing Lender, the Administrative Agent, the Lenders nor any of their respective officers or directors shall be liable or responsible for: (a) the use which may be made of the Letters of Credit or any acts or omissions of each beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the Issuing Lender against presentation of documents which do not comply with the terms of the Letters of Credit, including failure of any documents to bear any reference or adequate reference to the Letters of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under the Letters of Credit, except that the Borrower shall have a claim against the Issuing Lender and the Issuing Lender shall be liable to the Borrower, to the extent of any direct, as opposed to consequential, damages suffered by the Borrower which the Borrower proves were caused by (i) the Issuing Lender’s willful misconduct or gross negligence in determining whether documents presented under the Letters of Credit are genuine or comply with the terms of the Letters of Credit or (ii) the Issuing Lender’s willful or grossly negligent failure, as determined by a court of competent jurisdiction, to make lawful payment under the Letters of Credit after the presentation to it of a certificate strictly complying with the terms and conditions of the Letters of Credit. In furtherance and not in limitation of the foregoing, the Issuing Lender may accept original or facsimile (including telecopy) certificates presented under the Letters of Credit that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary.
Liability of the Lenders. The Lenders shall in no event be responsible or liable to any person other than the Borrowers for the disbursement of or failure to disburse the Loan proceeds or any part thereof and neither the General Contractor nor any subcontractor, laborer or material supplier shall have any right or claim against the Lenders under this Agreement or the administration thereof. No Lender shall be liable to the Borrowers for the failure of any other Lender to fund its ratable portion of any advance pursuant to the Agency Agreement.
Liability of the Lenders. The Guarantor hereby agrees that the Lenders shall not be chargeable for any negligence, mistake, act or omission of any accountant, examiner, agency or attorney employed by the Lenders in making examinations, investigations or collections, or otherwise in perfecting, maintaining, protecting or realizing upon any lien or security interest or any other interest in the Collateral or other security for the Obligations. By inspecting the Collateral or any other properties of the Borrowers or by accepting or approving anything required to be observed, performed or fulfilled by the Borrowers or to be given to the Lenders pursuant to this Agreement or any of the other Financing Documents, the Lenders shall not be deemed to have warranted or represented the condition, sufficiency, legality, effectiveness or legal effect of the same, and such acceptance or approval shall not constitute any warranty or representation with respect thereto by the Lenders.
Liability of the Lenders. 95 SECTION 11.17
Liability of the Lenders. No Lender shall be liable for another Lender's failure to fund its ratable share of any advance under the Loan. The Lenders shall not be liable for any other act or omission by the Lenders, or any of them, pursuant to the provisions of this Agreement in the absence of fraud or gross negligence. The Lenders shall incur no liability to the Borrower or any other party in connection with the acts or omissions of any of the Lenders in reliance upon any certificate or other paper believed by the Lenders to be genuine or with respect to any other thing which the Lenders may do or refrain from doing, unless such act or omission amounts to fraud or gross negligence. The Borrower hereby agrees that the Lenders shall not be chargeable for any negligence, mistake, act or omission of any accountant, examiner, agency or attorney employed by the Lenders, or any of them, (except for the gross negligence or willful misconduct of any person, corporation, partnership or other entity employed by any of the Lenders) in making examinations, investigations or collections, or otherwise in perfecting, maintaining, protecting or realizing upon any lien or security interest or any other interest in the Collateral or other security for the Obligations. In connection with the performance of their duties pursuant to this Agreement, the Lenders may consult with counsel of their own selection, and do anything which the Lenders may do or refrain from doing, in good faith, in reliance upon the opinion of such counsel shall be full justification and protection to the Lenders. The Borrower shall indemnify, defend and hold the Lenders
Liability of the Lenders. 35 SECTION 4.9 COMPUTATION OF INTEREST AND FEES......................................................35 SECTION 4.10 LIENS; SETOFF.........................................................................35 SECTION 4.11 PAYMENT AND PERFORMANCE OF OBLIGATIONS................................................35 SECTION 4.12 PAYMENTS TO OTHERS FOR THE ACCOUNT OF THE BORROWER....................................36 SECTION 4.13 PREPAYMENT............................................................................36 ARTICLE V...............................................................................................37
Liability of the Lenders. The contractual position assumed by the Lenders under this Agreement is of a joint but not several nature (mancomunada) and, accordingly their rights and obligations hereunder are totally independent. In the event that any Lender breaches any of the obligations assumed by virtue of this Agreement, such breach shall not increase the obligations assumed by the rest of the Lenders, nor shall any such breach affect the obligations of the Obligors or release any of the Obligors from any of their own obligations hereunder (and without prejudice to the actions and exceptions that may correspond to the Obligors vis-a-vis the defaulting Lender(s)). Save to the extent otherwise provided for in any Finance Document, (i) any of the Lenders may take out-of-court actions directed towards the conservation and defence of its own rights and those of the other Lenders; and (ii) a Lender, however, may only exercise its own rights through the courts (and not those of any other Lender).
Liability of the Lenders. The Lenders shall in no event be responsible or liable to any person other than the Borrowers for the disbursement of or failure to disburse the Loan proceeds or any part thereof and neither the General Contractor nor any subcontractor, laborer or material supplier shall have any right or claim against the Lenders under this Agreement or the administration thereof. Neither the Agent, any of the other Lenders nor any Inspecting Engineer shall be responsible or liable for the construction methods or the quality of construction employed in connection with a Facility or for any construction defects but are merely reviewing construction or causing it to be reviewed in connection with the verification of Costs Incurred to Date. Furthermore, all verification of Costs Incurred to Date shall be for the sole benefit of Agent and Lenders and neither any Borrower nor any other third party shall have the right to rely thereon, and it shall be the sole responsibility of the Borrowers and not the responsibility of the Lenders or the Agent to apply any Loan funds to the payment of such costs.
Liability of the Lenders. No Lender shall have any responsibility, (a) to the Borrower or the Guarantor on account of the failure of any other Lender to perform its obligations hereunder, or (b) to any other Lender on account of the failure of the Borrower to perform its obligations hereunder. Each Lender severally represents and warrants to the other that it has made its own independent investigation of the financial condition and affairs of the Borrower and the Guarantor in connection with the making and continuation of its Participation in the Loan hereunder and has not relied on any information provided to such Lender by another Lender in connection herewith, and each Lender represents and warrants to the other that it shall continue to make its own independent appraisal of the creditworthiness of the Borrower and the Guarantor while the Loan is outstanding or the Lenders have any obligations hereunder.
Liability of the Lenders. Each of the Lenders agrees with each of the other Lenders that, except as otherwise expressly provided in this Agreement, none of the Lenders has or shall have any duty or obligation, or shall in any way be liable to any of the other Lenders in respect of this Agreement or any of the other Loan Documents or any action taken or omitted to be taken in connection with it.
