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 Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 2 contracts

Samples: Security Agreement (United Rentals North America Inc), Security Agreement (United Rentals Inc /De)

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Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any other Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Secured Credit Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 2 contracts

Samples: Intercreditor Agreement, First Lien Intercreditor Agreement (Community Health Systems Inc)

Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit DocumentsAgreements to which it is a party. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Document Secured Agreements or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: Pledge and Security Agreement (Spansion Inc.)

Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Credit Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: Intercreditor Agreement (Alion Science & Technology Corp)

Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit applicable Second Lien Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: Security Agreement (United Rentals North America Inc)

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Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party (other than the Trustee and Collateral Agent) acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Credit Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: First Lien Intercreditor Agreement (RenPac Holdings Inc.)

Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party acknowledges that it has, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit DocumentsAgreements. Each Secured Party also acknowledges that it will, independently and without reliance upon the Collateral Agent, any Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Document Secured Agreements or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: Security Agreement (Warner Music Group Corp.)

Non-Reliance on Collateral Agent and Other Secured Parties. Each Secured Party (other than the Collateral Agent) acknowledges that it has, independently and without reliance upon the Collateral Agent, any the Applicable Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Secured Credit Loan Documents. Each Secured Party also acknowledges that it will, independently and without reliance upon the 42 Collateral Agent, any the Applicable Authorized Second Lien Representative or any other Secured Party or any of their Affiliates and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Second Lien Loan Document or any related agreement or any document furnished hereunder or thereunder.

Appears in 1 contract

Samples: Collateral Agreement (ASC Holdco, Inc.)

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