Common use of Non-Reliance on the Agents and Other Lenders Clause in Contracts

Non-Reliance on the Agents and Other Lenders. Each Lender expressly acknowledges that neither the Agents 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 either Agent hereafter taken, including any review of the affairs of Quiksilver, any Subsidiary or any other Loan Party, shall be deemed to constitute any representation or warranty by such Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon the Agents or any other Lender, 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 Quiksilver, each Subsidiary and the other Loan Parties and made its own decision to make its Loans, issue its Acceptances, and participate in Letters of Credit, hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents or any other Lender, 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 Loan 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 Quiksilver, its Subsidiaries and the other Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the applicable Administrative Agent hereunder, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary or any other Loan Party which may come into the possession of such Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates.

Non-Reliance on the Agents and Other Lenders. Each Lender expressly acknowledges that neither none of the Agents nor any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates affiliates has made any representations or warranties to it and that no act by either any Agent hereafter taken, including any review of the affairs of Quiksilver, any Subsidiary the Borrower or any other Loan Party, shall be deemed to constitute any representation or warranty by such Agent to any Lender. Each Lender further represents and warrants to the Agents that it hashas had the opportunity to review each document made available to it on the Platform in connection with this Agreement and has acknowledged and accepted the terms and conditions applicable to the recipients thereof. Each Lender represents to the Agents that, independently and without reliance upon the Agents any Agent or any other Lender, and based on such documents and information as it has deemed appropriate, it has made and will make, its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of Quiksilver, each Subsidiary the Borrower and the other Loan Parties and Parties, it has made its own decision to make its Loans, issue its Acceptances, and participate in Letters of Credit, Loans hereunder and enter into this Agreement. Each Lender also represents that Agreement and it will, independently and without reliance upon the Agents or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to will make its own credit analysis, appraisals and decisions in taking or not taking any action under this Agreement and the other Loan DocumentsDocuments and, and to make such investigation except as it deems necessary to inform itself as to the businessexpressly provided in this Agreement, operations, property, financial and other condition and creditworthiness of Quiksilver, its Subsidiaries and the other Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the applicable Administrative Agent hereunder, such no Agent shall not have any duty or responsibility responsibility, either initially or on a continuing basis, to provide any Lender with any credit or other information concerning with respect thereto, whether coming into its possession before the businessmaking of the Loans or at any time or times thereafter. Each Lender represents to the Agents that (i) it is a bank, operationssavings and loan association or other similar savings institution, propertyinsurance company, condition (investment fund or company or other financial or otherwise)investment institution which makes or acquires commercial loans in the ordinary course of its business and that it is participating hereunder as a Lender for such commercial purposes and (ii) it has the knowledge and experience to be and is capable of evaluating the merits and risks of being a Lender hereunder. Each Lender acknowledges and agrees to comply with the provisions of Section 10.04(c) applicable to the Lenders hereunder. Each party to this Agreement acknowledges and agrees that the Agents may use an outside service provider for the tracking of all UCC financing statements required to be filed pursuant to the Loan Documents and notification to the Agents of, prospects among other things, the upcoming lapse or creditworthiness expiration thereof, and that any such service provider will be deemed to be acting at the request and on behalf of Quiksilver, any Subsidiary or any the Borrowers and the other Loan Party which may come into the possession of Parties. No Agent shall be liable for any action taken or not taken by any such Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliatesservice provider.

Non-Reliance on the Agents and Other Lenders. Each Lender expressly acknowledges that neither the Agents Agent nor any of their respective such Agent's officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by either any Agent hereafter hereinafter taken, including any review of the affairs of Quiksilver, any Subsidiary the Borrowers or any other Loan Partyof their Subsidiaries, shall be deemed to constitute any representation or warranty by such Agent to any Lender. Each Lender represents to the Agents Administrative Agent that it has, independently and without reliance upon the Agents any Agent or any other Lender, 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 Quiksilver, each Subsidiary the Borrowers and the other Loan Parties their Subsidiaries and made its own decision to make its Loans, Loans and issue its Acceptances, and or participate in Letters Letter of Credit, Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents Administrative Agent or any other Lender, 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 Loan 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 Quiksilver, its Subsidiaries the Borrowers and the other Loan Partiestheir Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the applicable Administrative Agent hereunderAgents hereunder or by the other Loan Documents, such Agent the Agents shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary the Borrowers or any other Loan Party of their Subsidiaries which may come into the possession of such any Agent or any of its respective officers, directors, employees, agents, attorneys-attorneys- 69 in-fact fact, Subsidiaries or Affiliates.

Non-Reliance on the Agents and Other Lenders. Each Lender -------------------------------------------- expressly acknowledges that neither the Agents Agent nor any of their respective such Agent's officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by either any Agent hereafter hereinafter taken, including any review of the affairs of Quiksilver, any Subsidiary the Borrowers or any other Loan Partyof their Subsidiaries, shall be deemed to constitute any representation or warranty by such Agent to any Lender. Each Lender represents to the Agents each Agent that it has, independently and without reliance upon the Agents any Agent or any other Lender, 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 Quiksilver, each Subsidiary the Borrowers and the other Loan Parties their Subsidiaries and made its own decision to make its Loans, Loans and issue its Acceptances, and or participate in Letters Letter of Credit, Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents any Agent or any other Lender, 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 Loan 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 Quiksilver, its Subsidiaries the Borrowers and the other Loan Partiestheir Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by an Agent hereunder or by the applicable Administrative Agent hereunderother Loan Documents, such no Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary the Borrowers or any other Loan Party of their Subsidiaries which may come into the possession of such any Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates.

Non-Reliance on the Agents and Other Lenders. Each Lender expressly -------------------------------------------- acknowledges that neither the Agents Syndication Agent, the Documentation Agent nor the Administrative Agent or any of their respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by either the Syndication Agent, the Documentation Agent hereafter or the Administrative Agent hereinafter taken, including any review of the affairs of Quiksilver, any Subsidiary the Company or any other Loan Partyof its Subsidiaries, shall be deemed to constitute any representation or warranty by such the Syndication Agent, the Documentation Agent or the Administrative Agent to any Lender. Each Lender represents to the Agents Syndication Agent, the Documentation Agent and the Administrative Agent that it has, independently and without reliance upon the Agents Syndication Agent, the Documentation Agent, the Administrative Agent or any other Lender, 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 Quiksilver, each Subsidiary the Company and the other Loan Parties its Subsidiaries and made its own decision to make its Revolving Credit Loans, participate in Swingline Loans and issue its Acceptances, and or participate in Letters of Credit, Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents Syndication Agent, the Documentation Agent, the Administrative Agent or any other Lender, 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 Loan 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 Quiksilver, the Company and its Subsidiaries and the other Loan PartiesSubsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the applicable Syndication Agent, the Documentation Agent or the Administrative Agent hereunderhereunder or by the other Loan Documents, such neither the Syndication Agent, the Documentation Agent nor the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary the Company or any other Loan Party of its Subsidiaries which may come into the possession of such the Syndication Agent, the Documentation Agent or the Administrative Agent or any of its their respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates.

Non-Reliance on the Agents and Other Lenders. Each Lender expressly acknowledges that neither the Agents Agent, the Disbursing Agent nor any of their respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by either the Agent hereafter or the Disbursing Agent hereinafter taken, including any review of the affairs of Quiksilver, any Subsidiary or any other Loan Partythe Borrower, shall be deemed to constitute any representation or warranty by such the Agent or Disbursing Agent to any Lender. Each Lender represents to the Agents Agent or Disbursing Agent that it has, independently and without reliance upon the Agents Agent, the Disbursing Agent or any other Lender, 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 Quiksilver, each Subsidiary and the other Loan Parties Borrower and made its own decision to make its Loans, Loans and issue its Acceptances, and or participate in Letters of Credit, Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents Agent, the Disbursing Agent or any other Lender, 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 Loan 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 Quiksilver, its Subsidiaries and the other Loan PartiesBorrower. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the applicable Administrative Agent hereunderor the Disbursing Agent hereunder or by the other Loan Documents, such neither the Agent nor the Disbursing Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary or any other Loan Party the Borrower which may come into the possession of such the Agent or the Disbursing Agent or any of its their respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates.

Non-Reliance on the Agents and Other Lenders. Each Lender expressly acknowledges that neither the Agents Agent nor any of their respective such Agent's officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates has made any representations or warranties to it and that no act by either any Agent hereafter hereinafter taken, including any review of the affairs of Quiksilver, any Subsidiary the Borrowers or any other Loan Partyof their Subsidiaries, shall be deemed to constitute any representation or warranty by such Agent to any Lender. Each Lender represents to the Agents each Agent that it has, independently and without reliance upon the Agents any Agent or any other Lender, 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 Quiksilver, each Subsidiary the Borrowers and the other Loan Parties their Subsidiaries and made its own decision to make its Loans, Loans and issue its Acceptances, and or participate in Letters Letter of Credit, Credit hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Agents any Agent or any other Lender, 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 Loan 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 Quiksilver, its Subsidiaries the Borrowers and the other Loan Partiestheir Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by an Agent hereunder or by the applicable Administrative Agent hereunderother Loan Documents, such no Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, financial and other condition (financial or otherwise), prospects or creditworthiness of Quiksilver, any Subsidiary the Borrowers or any other Loan Party of their Subsidiaries which may come into the possession of such any Agent or any of its respective officers, directors, employees, agents, attorneys-in-fact fact, Subsidiaries or Affiliates.. SECTION 13.7