Common use of Non-Reliance on Agent and Other Banks Clause in Contracts

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Loan Document. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower of this Agreement or of the Borrower or any other Credit Party in any other Loan Document or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Subsidiary. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Subsidiary (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyone.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Hardinge Inc), Credit and Term Loan Agreement (Hardinge Inc)

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Borrowers and its Subsidiaries the Guarantors and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentDocuments. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Borrowers of this Agreement or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Borrowers or any Subsidiaryother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Borrowers or any Subsidiary other Person (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAgent.

Appears in 2 contracts

Samples: Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries and decision to enter into this Agreement and that it willshall, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Loan DocumentAgreement. The Administrative Agent shall not be required to keep itself informed as to the performance or observance by the Borrower any Obligor of this Agreement or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower or any Subsidiaryof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Subsidiary of its Subsidiaries (or any of their Affiliates) which that may come into the possession of the Administrative Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyone.

Appears in 2 contracts

Samples: Agreement (Gran Tierra Energy, Inc.), Credit Agreement (Gran Tierra Energy, Inc.)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has received current financial information with respect to the Company and that it has, independently and without reliance on the Agent or any other Bank, Bank and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries Company and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentDocuments. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower any Relevant Party of this Agreement Agreement, the Letters of Credit or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Company or any SubsidiaryRelevant Party. Except for notices, 77 reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, under the Letters of Credit or the other Loan Documents, Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any Subsidiary other Relevant Party (or any of their Affiliatesaffiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAgent.

Appears in 1 contract

Samples: Credit Agreement (Seagull Energy Corp)

Non-Reliance on Agent and Other Banks. Each Bank ------------------------------------- agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and each Subsidiary and its Subsidiaries and decision to enter into the transactions contemplated by this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Loan DocumentAgreement. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower of this Agreement or of the Borrower or any other Credit Party in any other Loan Document or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Subsidiary. Except for notices, reports reports, and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition condition, or business of the Borrower or any Subsidiary (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAffiliates.

Appears in 1 contract

Samples: Revolving Credit Agreement (Southern Union Co)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries the other Loan Parties and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement Agreement, the Security Documents or any the other Loan DocumentDocuments. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower of this Agreement Agreement, the Security Documents or of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Subsidiaryother Loan Parties. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the Security Documents, or the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Subsidiary (or any of their Affiliates) which other Loan Party, that may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAffiliates.

Appears in 1 contract

Samples: Loan Agreement (National Patent Development Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the any Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the any Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Loan DocumentAgreement. The Agent None of the Agents shall not be required to keep itself informed as to the performance or observance by the Borrower any Obligor of this Agreement or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any Subsidiaryof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent Agents hereunder, none of the Agent Agents shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any Subsidiary of its Subsidiaries (or any of their Affiliates) which that may come into the possession of the such Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyone.

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent Agent, IBJS or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries and the decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Loan Related Document. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower or any other party to the Related Documents of this Agreement or of the Borrower or any other Credit Party in any other Loan Related Document or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Subsidiaryother party to the Related Documents. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Subsidiary other party to the Related Documents (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliatesAffiliates. The Agent shall not be required to file this Agreement, any other Loan Related Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Related Document or any document or instrument referred to herein or therein, to anyone.

Appears in 1 contract

Samples: Credit and Security Agreement (Winstar Communications Inc)

Non-Reliance on Agent and Other Banks. Each Bank agrees represents that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis appraisal of the Borrower financial condition and its Subsidiaries affairs of the Loan Parties and decision to enter into this Agreement and agrees that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis appraisals and decisions in taking or not taking action under this Agreement or and the other Financing Documents. Neither the Agent nor any other Loan Document. The Agent Bank shall not be required to keep itself informed as to the performance or observance by the Borrower of any Loan Party under this Agreement or of the Borrower or Agreement, any other Credit Party in any other Loan Transaction Document or any other document referred to or provided for herein or therein or to make inquiry of, or to inspect the properties or books of the Borrower or of, any SubsidiaryLoan Party. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, neither the Agent nor any Bank shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower any Loan Party or any Subsidiary (or any of their Affiliates) Affiliate thereof, which may come into the possession of the Agent or such Bank or any of its or their affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyone.

Appears in 1 contract

Samples: Credit Agreement (Unisource Energy Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees ------------------------------------- that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries Loan Parties and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentDocuments. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Loan Parties of this Agreement or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Subsidiaryother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Loan Parties or any Subsidiary other Person (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAgent.

Appears in 1 contract

Samples: Credit Agreement (Scansource Inc)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has received current financial information with respect to the Company and that it has, independently and without reliance on the Agent or any other Bank, Bank and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries Company and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentDocuments. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower any Relevant Party of this Agreement Agreement, the Letters of Credit or any of the Borrower or any other Credit Party in any other Loan Document Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Company or any SubsidiaryRelevant Party. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, under the Letters of Credit or the other Loan Documents, Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any Subsidiary other Relevant Party (or any of their Affiliatesaffiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyoneAgent.

Appears in 1 contract

Samples: Credit Agreement (Seagull Energy Corp)

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