Common use of Non-reliance on Arranger or Agent Clause in Contracts

Non-reliance on Arranger or Agent. Each Lender and the Swap Provider acknowledges that it has not relied on any statement, opinion, forecast or other representation made by either Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties in connection with the making and continuation of such Lender's Commitment or Contribution under this Agreement. Neither the Arranger nor the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the Swap Provider with any credit or other information with respect to any Security Party whether coming into its possession before the making of the Loan or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

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Non-reliance on Arranger or Agent. Each Lender and the each Swap Provider acknowledges Bank acknowledge that it has not relied on any statement, opinion, forecast or other representation made by either an Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the either Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties in connection with the making and continuation of such Lender's ’s Commitment or Contribution under this Agreement. Neither None of the Arranger nor Arrangers and the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the a Swap Provider Bank with any credit or other information with respect to any Security Party whether coming into its possession before the making of any Advance or the Loan or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 1 contract

Samples: Private and Confidential (Navios Maritime Holdings Inc.)

Non-reliance on Arranger or Agent. Each Lender Bank and the Swap Provider acknowledges that it has not relied on any statement, opinion, forecast or other representation made by either the Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties in connection with the making and continuation of such Lender's Bank’s Commitment or Contribution under this Agreement. Neither the Arranger nor the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the Swap Provider other Creditor with any credit or other information with respect to any Security Party whether coming into its possession before the making of the Loan any Tranche or any Advance thereof or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 1 contract

Samples: Agreement (Diana Containerships Inc.)

Non-reliance on Arranger or Agent. Each Lender Bank and the Swap Provider acknowledges that it has not not, relied on any statement, opinion, forecast or other representation made by either the Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties in connection with the making and continuation of such LenderBank's Commitment or Contribution under this Agreement. Neither the Arranger nor the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender or the Swap Provider other Creditor with any credit or other information with respect to any Security Party whether coming into its possession before the making of the Loan or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

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Non-reliance on Arranger or Agent. Each Lender Bank and the Swap Provider acknowledges that it has not relied on any statement, opinion, forecast or other representation made by either the Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties in connection with the making and continuation of such Lender's Bank’s Commitment or Contribution under this Agreement. Neither the Arranger nor the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender Bank or the Swap Provider with any credit or other information with respect to any Security Party whether coming into its possession before the making of the Loan or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 1 contract

Samples: Agreement (FreeSeas Inc.)

Non-reliance on Arranger or Agent. Each Lender Bank and the Swap Provider Bank acknowledges that it has not relied on any statement, opinion, forecast or other representation made by either the Arranger or the Agent to induce it to enter into this Agreement or any of the other Security Documents and that it has made and will continue to make, without reliance on the Arranger or the Agent and based on such documents as it considers appropriate, its own appraisal of the creditworthiness of the Security Parties and its own independent investigation of the financial condition, prospects and affairs of the Security Parties and of all other relevant factors in connection with the making and continuation of such Lender's Bank’s Commitment or Contribution under this Agreement. Neither the Arranger nor the Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide any Lender Bank or the Swap Provider Bank with any credit or other information with respect to any Security Party whether coming into its possession before the making of the Loan or at any time or times thereafter other than as provided in clause 16.3.1.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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