Limited Liability of the Bank. As between the Company and the Bank, the Company agrees to assume all risk of the acts or omissions of the Trustee (and any transferee of the Letter of Credit) with respect to its use of the Letter of Credit. Neither the Bank nor any of its officers or directors shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of the Trustee (or transferee) and any beneficiary in connection therewith; (b) the validity, or genuineness of documents, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, fraudulent or forged; or
Appears in 2 contracts
Samples: Reimbursement and Security Agreement (Culp Inc), Reimbursement and Security Agreement (Open Plan Systems Inc)
Limited Liability of the Bank. As between the The Company and the Bank, the Company agrees to assume assumes all risk risks of the acts or omissions of the Trustee (and any transferee of the Letter of Credit) Credit with respect to its use of the Letter of Credit. Neither the Bank nor any of its officers or directors shall be liable or responsible for: for (a) the use which may be made of the Letter of Credit or for any acts or omissions of the Trustee (or transferee) and any beneficiary or transferee in connection therewith; (b) the validity, or genuineness of documents, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, fraudulent or forged; or
Appears in 1 contract
Samples: Reimbursement Agreement (Public Service Co of New Mexico)
Limited Liability of the Bank. As between the Company and the Bank, the Company agrees to assume assume, absent gross negligence or willful misconduct by the Bank, all risk of the acts or omissions of the Trustee (and any transferee of the Letter of Credit) with respect to its use of the Letter of Credit. Neither the Bank nor any of its officers or directors shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of the Trustee (or transferee) and any beneficiary in connection therewith; (b) the validity, or genuineness of documents, or of any endorsement(s) thereon, accepted by the Bank in good faith, even if such documents should in fact prove to be in any or all respects invalid, fraudulent or forged; or
Appears in 1 contract
Samples: Reimbursement and Security Agreement (Atlantic American Corp)
