No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks in respect of any failure by the Administrative Agent or any Bank to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower to the Administrative Agent for the account of the Banks, Borrower's and the Co-Borrowers' obligations to the Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.
Appears in 3 contracts
Samples: Loan Agreement (MGM Grand Inc), Term Loan Agreement (MGM Grand Inc), Day Loan Agreement (MGM Grand Inc)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Co-Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks Lenders under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks Lenders in respect of any failure by the Administrative Agent or any Bank Lender to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower Borrowers to the Administrative Agent for the account of the BanksLenders, Borrower's βs and the Co-Borrowers' β obligations to the Banks Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.
Appears in 3 contracts
Samples: Loan Agreement (MGM Resorts International), Loan Agreement (MGM Resorts International), Loan Agreement (MGM Mirage)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Co-Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks in respect of any failure by the Administrative Agent or any Bank to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower to the Administrative Agent for the account of the Banks, Borrower's and the Co-Borrowers' obligations to the Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement. Article 11.
Appears in 2 contracts
Samples: Day Loan Agreement (MGM Mirage), Day Loan Agreement (MGM Mirage)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks in respect of any failure by the Administrative Agent or any Bank to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower to the Administrative Agent for the account of the Banks, Borrower's and the Co-Borrowers' obligations to the Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.. -129-
Appears in 1 contract
Samples: Loan Agreement (MGM Grand Inc)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Co-Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks Lenders under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks Lenders in respect of any failure by the Administrative Agent or any Bank Lender to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower Borrowers to the Administrative Agent for the account of the BanksLenders, Borrower's and the Co-Borrowers' obligations to the Banks Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.. W02-WEST:LAR\400019853.8
Appears in 1 contract
Samples: Loan Agreement (MGM Mirage)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Co-Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks in respect of any failure by the Administrative Agent or any Bank to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower to the Administrative Agent for the account of the Banks, Borrower's and the Co-Borrowers' obligations to the Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.
Appears in 1 contract
Samples: Day Loan Agreement (MGM Mirage)
No Obligations of Borrower and the Co-Borrowers. Nothing ----------------------------------------------- contained in this Article 10 shall be deemed to impose upon Borrower or any Co- Co-Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Banks Lenders under any provision of this Agreement, and Borrower and the Co-Borrowers shall have no liability to the Administrative Agent or any of the Banks Lenders in respect of any failure by the Administrative Agent or any Bank Lender to perform any of its obligations to the Creditors under this Agreement. Without limiting the generality of the foregoing, where any provision of this Agreement relating to the payment of any amounts due and owing under the Loan Documents provides that such payments shall be made by Borrower or the Co-Borrower to the Administrative Agent for the account of the BanksLenders, Borrower's and the Co-Borrowers' obligations to the Banks Lenders in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Agent in the manner provided by this Agreement.
Appears in 1 contract
Samples: Loan Agreement (MGM Mirage)