Common use of Limited Liability of Agent and Banks Clause in Contracts

Limited Liability of Agent and Banks. As among the Company, the Agent and the Banks (including the Issuing Bank), the Company assumes all risks of the acts or omissions of the beneficiaries of the DSR Letter of Credit with respect to the use of the DSR Letter of Credit. Neither the Agent nor any Bank nor any of their respective officers, directors, employees or agents shall be liable or responsible for (i) the use that may be made of the DSR Letter of Credit or any acts or omissions of any beneficiaries of the DSR Letter of Credit in connection with the DSR Letter of Credit; (ii) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted in connection with the DSR Letter of Credit or of any endorsement thereon, even if such document or endorsement should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (iii) payment by the Issuing Bank against presentation of any document that does not comply with the terms of the DSR Letter of Credit, including failure of any document to bear any reference or adequate reference to the DSR Letter of Credit; or

Appears in 2 contracts

Samples: Debt Service Reserve Letter of Credit and Reimbursement Agreement (Aes Ironwood LLC), Debt Service Reserve Letter of Credit and Reimbursement Agreement (Aes Red Oak LLC)

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Limited Liability of Agent and Banks. As among the CompanyBorrower, the Agent and the Banks (including the Issuing Bank)Banks, the Company Borrower assumes all risks of the acts or omissions of the beneficiaries of the DSR Debt Service Reserve Letter of Credit with respect to the use of the DSR Debt Service Reserve Letter of Credit. Neither the Agent nor any Bank nor any of their respective officers, directors, employees or agents shall be liable or responsible for for: (ia) the use that may be made of the DSR Debt Service Reserve Letter of Credit or any acts or omissions of any beneficiaries of the DSR Debt Service Reserve Letter of Credit in connection with the DSR Debt Service Reserve Letter of Credit; (iib) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted in connection with the DSR Debt Service Reserve Letter of Credit or of any endorsement thereon, even if such document or endorsement should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (iiic) payment by the Issuing Bank against presentation of any document that does not comply with the terms of the DSR Debt Service Reserve Letter of Credit, including failure of any document to bear any reference or adequate reference to the DSR Debt Service Reserve Letter of Credit; or

Appears in 1 contract

Samples: Debt Service Reserve Letter of Credit and Reimbursement Agreement (Edison Mission Energy)

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Limited Liability of Agent and Banks. As among the CompanyPartnership, the Agent and the Banks (including the Issuing Bank), the Company Partnership assumes all risks of the acts or omissions of the beneficiaries of the DSR Letter of Credit with respect to the use of the DSR Letter of Credit. Neither the Agent nor any Bank nor any of their respective officers, directors, employees or agents shall be liable or responsible for (i) the use that may be made of the DSR Letter of Credit or any acts or omissions of any beneficiaries of the DSR Letter of Credit in connection with the DSR Letter of Credit; (ii) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted in connection with the DSR Letter of Credit or of any endorsement thereon, even if such document or endorsement should prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (iii) payment by the Issuing Bank against presentation of any document that does not comply with the terms of the DSR Letter of Credit, including failure of any document to bear any reference or adequate reference to the DSR Letter of Credit; or

Appears in 1 contract

Samples: Debt Service Reserve Letter of Credit and Reimbursement Agreement (Tenaska Georgia Partners Lp)

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