Common use of No Obligations of Borrower Clause in Contracts

No Obligations of Borrower. Nothing contained in this Article -------------------------- 10 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders 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 to the Administrative Agent for the account of the Lenders, Borrower' obligations to the 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: Revolving Loan Agreement (Callaway Golf Co /Ca)

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No Obligations of Borrower. Nothing contained in this -------------------------- Article -------------------------- 10 shall be deemed to impose upon Borrower any obligation in respect of ---------- the due and punctual performance by the Administrative Agent of its obligations to the Lenders Banks under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders Banks in respect of any failure by the Administrative Agent or any Lender Bank to perform any of its obligations to the Administrative Agent or the Lenders 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 to the Administrative Agent for the account of the LendersBanks, Borrower' 's obligations to the Lenders 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.. -108-

Appears in 1 contract

Samples: Loan Agreement (MGM Grand Inc)

No Obligations of Borrower. Nothing contained in this Article 10 -------------------------- 10 ---------- shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders 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 to the Administrative Agent for the account of the Lenders, Borrower' 's obligations to the 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 (Nevada Power Co)

No Obligations of Borrower. Nothing contained in this Article -------------------------- 10 11 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Managing Agent of its obligations to the Lenders Banks under any provision of this Agreement, and Borrower shall have no liability to the Administrative Managing Agent or any of the Lenders Banks in respect of any failure by the Administrative Managing Agent or any Lender Bank to perform any of its obligations to the Administrative Managing Agent or the Lenders Banks 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 to the Administrative Managing Agent for the account of the LendersBanks, Borrower' 's obligations to the Lenders Banks in respect of such payments shall be deemed to be satisfied upon the making of such payments to the Administrative Managing Agent in the manner provided by this Agreement.. -107- MISCELLANEOUS -------------

Appears in 1 contract

Samples: Construction Loan Agreement (MGM Grand Inc)

No Obligations of Borrower. Nothing contained in this Article 10 -------------------------- 10 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders 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 to the Administrative Agent for the account of the Lenders, Borrower' obligations to the 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.. -77-

Appears in 1 contract

Samples: Revolving/Term Loan Agreement (Data Processing Resources Corp)

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No Obligations of Borrower. Nothing contained in this Article -------------------------- 10 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders 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 to the Administrative Agent for the account of the Lenders, Borrower' 's obligations to the 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.. -92-

Appears in 1 contract

Samples: Loan Agreement (MGM Grand Inc)

No Obligations of Borrower. Nothing contained in this Article -------------------------- 10 shall be deemed to impose upon Borrower any obligation in respect of the due and punctual performance by the Administrative Agent of its obligations to the Lenders under any provision of this Agreement, and Borrower shall have no liability to the Administrative Agent or any of the Lenders in respect of any failure by the Administrative Agent or any Lender to perform any of its obligations to the Administrative Agent or the Lenders 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 or the delivery of documents under the Loan Documents provides that such payments shall be made or documents delivered by Borrower to the Administrative Agent for the account of the Lenders, Borrower' 's obligations to the Lenders in respect of such payments and documents shall be deemed to be satisfied upon the making of such payments or delivery of such documents to the Administrative Agent in the manner provided by this Agreement.

Appears in 1 contract

Samples: Revolving Loan Agreement (Central Financial Acceptance Corp)

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