Common use of Non-Reliance on Deal Agent, Liquidity Agent and Other Purchasers Clause in Contracts

Non-Reliance on Deal Agent, Liquidity Agent and Other Purchasers. Each Purchaser expressly acknowledges that neither the Deal Agent, the Liquidity Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by the Deal Agent or the Liquidity Agent hereafter taken, including, without limitation, any review of the affairs of the Seller, shall be deemed to constitute any representation or warranty by the Deal Agent or the Liquidity Agent. Each Purchaser represents and warrants to the Deal Agent and to the Liquidity Agent that it has and will, independently and without reliance upon the Deal Agent, the Liquidity Agent or any other Purchaser and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness of the Seller and made its own decision to enter into this Agreement.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (Resource America Inc)

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Non-Reliance on Deal Agent, Liquidity Agent and Other Purchasers. Each Purchaser Secured Party expressly acknowledges that neither the Deal Agent, the Liquidity Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by the Deal Agent or the Liquidity Agent hereafter taken, including, without limitation, any review of the affairs of the Seller, shall be deemed to constitute any representation or warranty by the Deal Agent or the Liquidity Agent. Each Purchaser Secured Party represents and warrants to the Deal Agent and to the Liquidity Agent that it has and will, independently and without reliance upon the Deal Agent, the Liquidity Agent or any other Purchaser 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, prospects, financial and other conditions and creditworthiness of the Seller and made its own decision to enter into this Agreement or Hedging Agreement, as the case may be.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Fidelity Leasing Inc), Receivables Purchase Agreement (American Business Financial Services Inc /De/)

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