Limitation of responsibility of Existing Lender. (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: (i) the financial condition of an Obligor; or (ii) the legality, validity, effectiveness, enforceability, adequacy, accuracy, completeness or performance of: (A) any Finance Document or any other document; (B) any statement or information (whether written or oral) made in or supplied in connection with any Finance Document, or (C) any observance by any Obligor of its obligations under any Finance Document or other documents, and any representations or warranties implied by law are excluded. (b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it: (i) has made, and will continue to make, its own independent appraisal of all risks arising under or in connection with the Finance Documents (including the financial condition and affairs of each Obligor and its related entities and the nature and extent of any recourse against any Party or its assets) in connection with its participation in this Agreement; and (ii) has not relied exclusively on any information supplied to it by the Existing Lender in connection with any Finance Document. (c) Nothing in any Finance Document requires an Existing Lender to: (i) accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred under this Clause; or (ii) support any losses incurred by the New Lender by reason of the non-performance by either Obligor of its obligations under any Finance Document or otherwise.
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Limitation of responsibility of Existing Lender. (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for:
(i) the financial condition of an Obligor; ora Principal Project Party;
(ii) the legality, validity, effectiveness, enforceability, adequacy, accuracy, completeness or performance of:
(A) any the Finance Document Documents or any other document;
(B) any statement or information (whether written or oral) made in or supplied in connection with any Finance Document, ; or
(C) any observance by any Obligor Principal Project Party of its obligations under any Finance Document or any other documentsdocument, and any representations or warranties implied by law are excluded.
(b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it:
(i) has made, made (and will shall continue to make, ) its own independent appraisal of all risks arising under or in connection with the Finance Documents (including the financial condition and affairs of the Company and each Obligor and Principal Project Party and, in each case, its related entities and the nature and extent of any recourse against any Party or its assets) in connection with its participation in this Agreementeach Finance Document; and
(ii) has not relied exclusively on any information supplied provided to it by the Existing Lender in connection with or any other Finance DocumentParty.
(c) Nothing in any Finance Document requires obliges an Existing Lender to:
(i) accept a re-transfer from a the New Lender of any of the rights and or obligations assigned or transferred under this Clause; or
(ii) support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by either Obligor the Company or any Principal Project Party of its obligations under any Finance Document or otherwise.
Appears in 1 contract
Limitation of responsibility of Existing Lender. (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for:
(i) the financial condition of an Obligor; or
(ii) the legality, validity, effectiveness, enforceability, adequacy, accuracy, completeness adequacy or performance of:
(A) any enforceability of the Finance Document Documents or any other documentdocuments;
(Bii) the financial condition of any statement Transaction Party or information any other person;
(iii) the performance and observance by any Transaction Party or any other person of its obligations under the Finance Documents or any other documents; or
(iv) the accuracy of any statements (whether written or oral) made in or supplied in connection with any Finance Document, or
(C) any observance by any Obligor of its obligations under any Finance Document or any other documentsdocument, and any representations or warranties implied by law are excluded.
(b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it:
(i) has made, made (and will shall continue to make, ) its own independent appraisal investigation and assessment of all risks arising under or in connection with the Finance Documents (including the financial condition and affairs of each Obligor Transaction Party and its related entities and the nature and extent of any recourse against any Party or its assets) other person in connection with its participation in this Agreement; and
(ii) Agreement and has not relied exclusively on any information supplied provided to it by the Existing Lender in connection with any Finance Document; and
(ii) will continue to make its own independent appraisal of the creditworthiness of each Transaction Party and its related entities and any other person whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force.
(c) Nothing in any Finance Document requires an obliges the Existing Lender to:
(i) accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred under this ClauseClause 24; or
(ii) support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by either Obligor any Transaction Party or any other person of its obligations under any the Finance Document Documents or otherwise.
Appears in 1 contract
Limitation of responsibility of Existing Lender. (a) Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for:
(i) the business, assets, prospects, condition (financial condition or otherwise) or results of an Obligor; oroperations of any Obligor or any member of the Group;
(ii) the legality, validity, effectiveness, enforceability, adequacy, accuracy, completeness or performance of:
(A) any Finance Document or any other document;
(B) any statement or information (whether written or oral) made in or supplied in connection with any Finance Document, ; or
(C) any observance by any Obligor of its obligations under any Finance Document or any other documentsdocument, and any representations or warranties implied by law are excluded.
(b) Each New Lender confirms to the Existing Lender and the other Finance Parties that it:
(i) has made, and will continue to make, its own independent appraisal of all risks arising under or in connection with the Finance Documents (including the financial condition and affairs of each Obligor and its related entities and the nature and extent of any recourse against any Party or its assets) in connection with its participation in this Agreement; and;
(ii) has not relied exclusively on any information supplied to it by the Existing Lender in connection with any Finance Document; and
(iii) is a person whose ordinary business includes participation in syndicated facilities of this type.
(c) Nothing in any Finance Document requires an Existing Lender to:
(i) accept a re-transfer from a New Lender of any of the rights and obligations assigned or transferred under this Clause; or
(ii) support any losses incurred by the New Lender by reason of the non-performance by either any Obligor of its obligations under any Finance Document or otherwise.
Appears in 1 contract
Samples: Credit Facilities Agreement (Hungarian Telephone & Cable Corp)
