Non-Reliance on Agent. Each Lender agrees that it has, independently and without reliance on the Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the decision to enter into this Agreement and that it will, independently and without reliance upon the Agent, 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. The Agent shall not be required to keep informed as to the performance or observance by the Borrower of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the Borrower. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the affairs, financial condition or business of the Borrower (or any of its related companies) which may come into the Agent's possession; provided, however, that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
Appears in 2 contracts
Samples: Business Credit and Security Agreement (Elek Tek Inc), Business Credit and Security Agreement (Government Technology Services Inc)
Non-Reliance on Agent. Each Lender Bank agrees that it has, independently and without reliance on the Agent or any other LenderBank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and the its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent, 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. The Agent shall not be required to keep informed as to the performance or observance by the Borrower Company of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the BorrowerCompany or its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Lender Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company, its Subsidiaries (or any of its related companies) which may come into the Agent's possession; provided, however, that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
Appears in 2 contracts
Samples: Revolving Credit Agreement (NPC International Inc), Revolving Credit Agreement (NPC International Inc)
Non-Reliance on Agent. Each Lender Bank (and each successor and assignee thereof) agrees that it has, independently and without reliance on the Agent or any other LenderBank, and based on such documents and information as it has deemed appropriate, made its own credit analysis and evaluation of the Borrower and its Subsidiaries and filings relating thereto, the manner of perfection of the security interest in any collateral provided hereunder and under the Pledge Agreement and its own decision to enter into this Agreement the Loan Documents and make the Loans and that it will, independently and without reliance upon the AgentAgent 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 Agreementthe Loan Documents. The Agent shall not be required to keep itself informed as to the performance or observance by the Borrower of this Agreement or any the other document referred to or provided for herein Loan Documents or to inspect the properties or books of the Borrowerany party. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Lender Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower (that may come into the possession of the Agent or any of its related companies) which may come into affiliates as a result of its or their independent dealings with the Agent's possessionBorrower; provided, however, provided that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation endeavor to provide the Banks with such other information to the Lendersas it may receive in its capacity as Agent hereunder.
Appears in 1 contract
Samples: Credit Agreement (FMR Corp)
Non-Reliance on Agent. Each Lender Bank agrees that it has, independently and without reliance on the Agent or any other LenderBank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the decision to enter into this Agreement and that it will, independently and without reliance upon the Agent, 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. The Agent shall not be required to keep informed as to the performance or observance by the Borrower of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the BorrowerBorrower or any of its Subsidiaries. Except The Agent shall use its best efforts to relay to each Bank any information pertaining to the Borrower or its Subsidiaries which comes into the possession of the Agent’s Corporate Banking Division; provided however, that except for notices, reports and other documents and information expressly required to be furnished to the Lenders each Bank by the Agent hereunder, the Agent Agent, in the absence of negligence or willful misconduct, shall not have be liable to any duty Bank for its failure to relay or responsibility furnish to provide any Lender with Bank any credit or other information concerning the affairs, financial condition or business of the Borrower (or any of its related companies) which may come into the Agent's possession; provided, however, that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
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Non-Reliance on Agent. Each Lender agrees acknowledges that it has, independently and without reliance on upon the Agent or any other Lender, Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the decision to enter into this Agreement and Amendment. Each Lender also acknowledges that it will, independently and without reliance upon either the Agent, Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate at the timeappropriate, continue to make its own analysis and decisions in taking or not taking action under or based upon this Amendment, the Amended Credit Agreement. The Agent shall not be required to keep informed as to the performance , any other Loan Document or observance by the Borrower of this Agreement related agreement or any other document referred to furnished hereunder or provided for herein or to inspect the properties or books of the Borrowerthereunder. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Administrative Agent hereunderherein, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the affairsbusiness, prospects, operations, property, financial and other condition or business creditworthiness of any of the Borrower (Loan Parties or any of its related companies) their respective Affiliates which may come into the Agent's possession; provided, however, that to possession of the extent Administrative Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lendersits Related Parties.
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Non-Reliance on Agent. Each Lender Bank agrees that it has, independently and without reliance on the Agent or any other LenderBank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower NPCI and the its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent, 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. The Agent shall not be required to keep informed as to the performance or observance by the Borrower Company of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the BorrowerNPCI or its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Lender Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower NPCI, its Subsidiaries (or any of its related companies) which may come into the Agent's possession; provided, however, that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
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Non-Reliance on Agent. Each Lender Bank agrees that it has, independently and without reliance on the Agent or any other LenderBank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Borrowers and the decision to enter into this Agreement and that it will, independently and without reliance upon the Agent, 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. The Agent shall not be required to keep informed as to the performance or observance by the Borrower Borrowers of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the BorrowerBorrowers. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Lender Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Borrowers (or any of its their related companies) which may come into the Agent's possession; provided, however, that to the extent Agent has not received any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
Appears in 1 contract
Samples: Revolving Credit Agreement (First Enterprise Financial Group Inc)
Non-Reliance on Agent. Each Lender, the L/C Issuer and the Swingline Lender agrees agree that (i) it has, independently and without reliance on the Agent or any other LenderAgent, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the its Subsidiaries and decision to enter into this Agreement and (ii) that it will, independently and without reliance upon the Agent, 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. The Except as otherwise provided herein or under any other Loan Document, the Agent shall not be required have any duty to keep the Lenders, the L/C Issuer or the Swingline Lender informed as to the performance or observance by the Borrower of this Agreement or any other document referred to or provided for herein or to inspect the properties or books of the Borrower. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the affairs, financial condition or business of the Borrower (or any of its related companies) which may come into Subsidiaries. The Agent, in the Agent's possession; providedabsence of gross negligence or willful misconduct, howevershall not be liable to any Lender, that the L/C Issuer or the Swingline Lender for their failure to relay or furnish to the extent Agent has not received Lender, the L/C Issuer or the Swingline Lender any such notice, report or other documents and information, Agent shall have no such obligation to provide such information to the Lenders.
Appears in 1 contract
Samples: Revolving Credit and Letter of Credit Issuance Agreement (Pitt Des Moines Inc)