Common use of No Liability for Failure to Make Advances Clause in Contracts

No Liability for Failure to Make Advances. Borrower hereby agrees Lender shall not be liable or responsible for any failure to make Advances (a.) if in Lender’s Sole Discretion Lender reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.) due to any accounting or administrative errors made by Lender provided that such errors are not in bad faith; or (c.) due to any other failure by Lender unless the same arises directly from Lender’s gross negligence or willful misconduct.

Appears in 3 contracts

Samples: Loan and Security Agreement (DecisionPoint Systems, Inc.), Loan and Security Agreement (Andalay Solar, Inc.), Loan and Security Agreement (Great American Group, Inc.)

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No Liability for Failure to Make Advances. Borrower hereby agrees Lender Lenders shall not be liable or responsible for any failure to make Advances (a.) if in Lender’s Lenders’ Sole Discretion Lender Lenders reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.) due to any accounting or administrative errors made by Lender Lenders provided that such errors are not in bad faith; or (c.) due to any other failure by Lender Lenders unless the same arises directly from Lender’s Lenders’ gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (T3 Motion, Inc.)

No Liability for Failure to Make Advances. Borrower hereby agrees Lender shall not be liable or responsible for any failure to make Advances (a.a) if in Lender’s Sole Discretion 's reasonable discretion Lender reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.b) due to any accounting or administrative errors made by Lender provided that such errors are not in bad faith; or (c.c) due to any other failure by Lender unless the same arises directly from Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Vertical Branding, Inc.)

No Liability for Failure to Make Advances. Borrower hereby agrees Lender shall not be liable or responsible for any failure to make Advances (a.a) if in Lender’s Sole Discretion 's discretion Lender reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.b) due to any accounting or administrative errors made by Lender provided that so long as such errors are not in bad faith; or (c.c) due to any other failure by Lender unless the same arises directly from Lender’s 's gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Mendocino Brewing Co Inc)

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No Liability for Failure to Make Advances. Borrower hereby agrees Lender shall not be liable or responsible for any failure to make Advances (a.) if in Lender’s Sole Discretion Lender reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.) due to any accounting or administrative errors made by Lender provided that such errors are not in bad faith; or (c.) due to any other failure by Lender unless the same arises directly from Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Visualant Inc)

No Liability for Failure to Make Advances. Borrower hereby agrees Lender shall not be liable or responsible for any failure to make Advances (a.a) if in Lender’s Sole Discretion discretion Lender reasonably believes in light of all of the facts and circumstances that Borrower is not entitled to receive such Advances; (b.b) due to any accounting or administrative errors made by Lender provided that so long as such errors are not in bad faith; or (c.c) due to any other failure by Lender unless the same arises directly from Lender’s gross negligence or willful misconduct.

Appears in 1 contract

Samples: Loan and Security Agreement (Orange 21 Inc.)

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