Common use of Non-Reliance on Collateral Agent and Other Secured Parties Clause in Contracts

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that neither the Collateral Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan Party, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Person. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Financing Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall have no duty or responsibility to provide any Secured Party with any credit or other information concerning the business, assets, operations, properties, financial condition, prospects or creditworthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that may come into the possession of the Collateral Agent any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 4 contracts

Samples: Collateral Agency and Intercreditor Agreement, Credit Agreement (Energy Future Intermediate Holding CO LLC), Collateral Agency and Intercreditor Agreement (Energy Future Holdings Corp /TX/)

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Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyGrantor, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Grantor and made its own decision to make its extensions of credit under the Financing Documents and enter into this AgreementAgreement and any Secured Agreement to which it is party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under any Secured Agreement, the Collateral Document and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Grantors. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Grantor which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc), Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyGrantors, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Grantors and made its own decision to make its extensions of credit under the Financing Documents and enter into this AgreementAgreement and any Secured Agreement to which it is party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under any Secured Agreement, the Collateral Document and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Grantors. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Grantors which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 2 contracts

Samples: Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc), Intercreditor and Collateral Agency Agreement (Xm Satellite Radio Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's officers, directors, employees, agents, attorneys-in-fact or Affiliates (or officers, directors, employees, agents or attorneys-in-fact of such Affiliates) has made any representations or warranties to it and that no act by the Collateral Agent hereinafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyCompany, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Company and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement, the Loan Documents, the Senior Note Documents and the Additional Facilities. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement the Loan Documents, the Senior Note Documents, the Additional Facilities and the other Financing DocumentsSecurity Documents and this Agreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Company. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Company which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Intercreditor Agreement (Resortquest International Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Security Agreement, neither the Collateral Agent nor any of its the Collateral Agent’s officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyDebtor, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Debtor and made its own decision to make its extensions of credit under the Financing Documents and enter into this Security Agreement, the Credit Agreement, the JPMorgan Reimbursement Agreement, or any Collateral Document, as applicable. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Credit Agreement, the JPMorgan Reimbursement Agreement or any Collateral Document and this Agreement and the other Financing DocumentsSecurity Agreement, as applicable, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Debtor. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Debtor which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Security Agreement (Trex Co Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each By ---------------------------------------------------------- acceptance of the Administrative Agent (on behalf of itself and each Lender Party)Senior Secured Debt or the Exchange Notes, as the case may be, each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's partners, officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyGrantor, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each By acceptance of the Administrative Agent (on behalf of itself and each Lender Party)Senior Secured Debt or the Exchange Notes, as the case may be, each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon on the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operationsoperation, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Grantor and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement. Each By acceptance of the Administrative Agent (on behalf of itself and each Lender Party)Senior Secured Debt or the Exchange Notes, as the case may be, each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently independently, and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Recapitalization Agreement, the Related Agreements and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Grantor. Except for notices, reports and other documents expressly required to be furnished by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects or creditworthiness and other condition and credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party Grantor that may come into the possession of the Collateral Agent or any of its respective partners, officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Collateral Agency and Security Agreement (Imperial Credit Industries Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly Holder acknowledges that neither the Collateral Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates has not made any representations or warranties to it and that no act by the Collateral Agent hereinafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan Party, shall be deemed to constitute any representation or warranty by to it on or prior to the Collateral Agent to such Persondate hereof. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party Holder represents to the Collateral Agent that it has, independently and without reliance upon on the Collateral Agent or any other Secured PartyHolder, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness affairs of US Holdings, the Borrower, each other Guarantor Company and each other Loan Party its Subsidiaries and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement. Each of Agreement and the Administrative Agent (on behalf of itself other Operative Agreements to which it is a party and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents agrees that it will, independently and without reliance upon the Collateral Agent or any other Secured PartyHolder, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Financing DocumentsOperative Agreements to which it is a party. Neither the Collateral Agent nor any Holder nor any of their respective Affiliates shall be responsible to any other Holder for any recitals, and statements, representations or warranties made by the Company or any of its Subsidiaries contained in this Agreement or any Operative Agreement or in any certificate or other document referred to make such investigation as it deems necessary or provided for in, or received by any Holder under, this Agreement or any other Operative Agreement, for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Operative Agreement or any other document referred to or provided for herein or therein or for any failure by the Company to perform its obligations hereunder or thereunder. Neither the Collateral Agent nor any Holder shall be required to monitor or otherwise inform itself as to the businessperformance or observance by the Company or any of its Subsidiaries under this Agreement or any other document referred to or provided for herein or to make inquiry of, operationsor to inspect the properties or books of, propertythe Company or any of its Subsidiaries. Except for notices, financial reports and other condition documents and creditworthiness of US Holdingsinformation expressly required to be furnished to the Holders by the Collateral Agent hereunder and under the Collateral Documents, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any Secured Party Holder with any credit or other information concerning the business, assets, operations, properties, financial condition, prospects or creditworthiness of US Holdings, the Borrower, any other Guarantor Company or any other Loan Party that of its Subsidiaries, or any of their respective Affiliates, which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Note Purchase Agreement (Pacific Aerospace & Electronics Inc)

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Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent’s officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyCompany, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Company and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement, the Credit Agreement, the Note Agreement, any Additional Facility Document or any Collateral Document. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Credit Agreement, the Note Agreement, any Additional Facility Document or any Collateral Document and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Company. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Company which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Intercreditor and Collateral Agency Agreement (Trex Co Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyGrantors, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Grantors and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement, the Credit Agreement, the Note Agreement or any Collateral Document. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Credit Agreement, the Note Agreement or any Collateral Document and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Grantors. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Grantors which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Note Purchase Agreement (Chalone Wine Group LTD)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's partners, officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyCompany, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Company and made its own decision to make its extensions of credit under the Financing Documents and enter into this AgreementAgreement and the Senior Note Documents. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Senior Note Documents, the Security Documents and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Company. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Company which may come into the possession of the Collateral Agent or any of its respective partners, officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Collateral Agency Agreement (Usn Communications Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party expressly acknowledges that that, except as expressly set forth in this Agreement, neither the Collateral Agent nor any of its the Collateral Agent's officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Collateral Agent hereinafter hereafter taken, including any review of the affairs of US Holdings, the Borrower, any other Guarantor or any other Loan PartyGrantors, shall be deemed to constitute any representation or warranty by the Collateral Agent to such Personany Secured Party. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party represents to the Collateral Agent that it has, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdings, the Borrower, each other Guarantor and each other Loan Party Grantors and made its own decision to make its extensions of credit under the Financing Documents and enter into this Agreement, the Credit Agreement, the Note Agreement, any Additional Facility Document or any Collateral Document. Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party also represents that it will, independently and without reliance upon the Collateral Agent or any other Secured Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Credit Agreement, the Note Agreement, any Additional Facility Document or any Collateral Document and this Agreement and the other Financing DocumentsAgreement, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness credit-worthiness of US Holdingsthe Grantors. Except for notices, reports and other documents expressly required to be furnished to the Secured Parties by the Collateral Agent hereunder, the Borrower, each other Guarantor and each other Loan Party. The Collateral Agent shall not have no any duty or responsibility to provide any the Secured Party Parties with any credit or other information concerning the business, assets, operations, propertiesproperty, financial condition, prospects and other condition or creditworthiness credit-worthiness of US Holdings, the Borrower, any other Guarantor or any other Loan Party that Grantors which may come into the possession of the Collateral Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Appears in 1 contract

Samples: Agency Agreement (Trex Co Inc)

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