Common use of No Duty to Contest Clause in Contracts

No Duty to Contest. The protection of this Section 2.11 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower under this Section 2.11, and provided that Borrower pays the assessment to the Lender, Borrower may thereafter undertake, at Borrower's own expense, any contest of the matters giving rise to the charge that may, in the opinion of Borrower's independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower for the purpose of enabling Borrower to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's counsel, to be paid by Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Seafield Capital Corp), Loan Agreement (Response Oncology Inc)

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No Duty to Contest. The protection of this Section 2.11 2.8 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower the Borrowers under this Section 2.112.8, and provided that Borrower pays the Borrowers pay the assessment to the Lender, Borrower the Borrowers may thereafter undertake, at Borrower's own expense, the Borrowers’ expense any contest of the matters giving rise to the charge that may, in the opinion of Borrower's the Borrowers’ independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower the Borrowers’ for the purpose of enabling Borrower the Borrowers to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's ’s counsel, to be paid by Borrowerthe Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Corp), Credit Agreement (Protective Life Insurance Co)

No Duty to Contest. The protection of this Section 2.11 2.8 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower Borrowers under this Section 2.112.8, and provided that Borrower pays Borrowers pay the assessment to the Lender, Borrower Borrowers may thereafter undertake, at Borrower's Borrowers' own expense, expense any contest of the matters giving rise to the charge that may, in the opinion of Borrower's Borrowers' independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower Borrowers for the purpose of enabling Borrower Borrowers to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's counsel, to be paid by BorrowerBorrowers.

Appears in 2 contracts

Samples: Credit Agreement (Books a Million Inc), Credit Agreement (Response Oncology Inc)

No Duty to Contest. The protection of this Section 2.11 2.8 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower under this Section 2.112.8, and provided that Borrower pays the assessment to the Lender, Borrower may thereafter undertake, at Borrower's ’s own expense, expense any contest of the matters giving rise to the charge that may, in the opinion of Borrower's ’s independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower for the purpose of enabling Borrower to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's ’s counsel, to be paid by Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Corp), Credit Agreement (Protective Life Insurance Co)

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No Duty to Contest. The protection of this Section 2.11 2.8 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower under this Section 2.112.8, and provided that Borrower pays the assessment to the Lender, Borrower may thereafter undertake, at Borrower's own expense, any contest of the matters giving rise to the charge that may, in the opinion of Borrower's independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower for the purpose of enabling Borrower to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's counsel, to be paid by Borrower.

Appears in 1 contract

Samples: Loan Agreement (Response Oncology Inc)

No Duty to Contest. The protection of this Section 2.11 2.10 shall be available to a Lender regardless of any possible contention of invalidity or inapplicability of the Law or condition that shall have been imposed. Should a Lender assess any charge to Borrower Borrowers under this Section 2.112.10, and provided that Borrower pays Borrowers pay the assessment to the Lender, Borrower Borrowers may thereafter undertake, at Borrower's Borrowers’ own expense, expense any contest of the matters giving rise to the charge that may, in the opinion of Borrower's Borrowers’ independent counsel issued to the affected Lender, and concurred in by counsel to the Lender, have a reasonable chance of success, provided further that the contest would not require the assertion of any position contrary to a position taken by the Lender generally with taxing authorities or any other involved parties and that there does not exist any other circumstance that would disadvantage the Lender in the event of such contest, as the affected Lender may determine in its discretion. The affected Lender shall offer reasonable participation to Borrower Borrowers for the purpose of enabling Borrower Borrowers to pursue the contest of such issue, with all expenses, including fees and expenses of the affected Lender's ’s counsel, to be paid by BorrowerBorrowers.

Appears in 1 contract

Samples: Credit Agreement (Alfa Corp)

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