Common use of Nonliability of Agent and Lenders Clause in Contracts

Nonliability of Agent and Lenders. The relationship between Credit Parties, Agent and Lenders shall be solely that of borrower, or guarantor, as the case may be, and lender. Neither Agent nor any Lender shall have any fiduciary responsibilities to Credit Parties. Neither Agent nor any Lender undertakes any responsibility to Credit Parties to review or inform Credit Parties of any matter in connection with any phase of Credit Parties’ business or operations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Omni Energy Services Corp), Loan and Security Agreement (Omni Energy Services Corp)

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Nonliability of Agent and Lenders. The relationship between Credit Loan Parties, Agent and Lenders shall be solely that of borrower, or guarantor, as the case may be, obligor and lender. Neither Agent nor any Lender shall have any fiduciary responsibilities to Credit Loan Parties. Neither Agent nor any Lender undertakes any responsibility to Credit Loan Parties to review or inform Credit Loan Parties of any matter in connection with any phase of Credit Loan Parties’ business or operations.

Appears in 1 contract

Samples: Loan and Security Agreement (Coachmen Industries Inc)

Nonliability of Agent and Lenders. The relationship between Credit Parties, any Borrower on the one hand and the Lenders and the Agent and Lenders on the other hand shall be solely that of borrower, or guarantor, as the case may be, borrower and lender. Neither the Agent nor any Lender shall have any fiduciary responsibilities to any Credit PartiesParty. Neither the Agent nor any Lender undertakes any responsibility to Credit Parties any Borrower to review or inform any Credit Parties Party of any matter in connection with any phase of such Credit Parties’ Party's business or operations.

Appears in 1 contract

Samples: Credit Agreement (World Air Holdings, Inc.)

Nonliability of Agent and Lenders. The relationship between Credit Parties, the Borrowers and the Lenders and the Agent and Lenders Collateral Agent shall be solely that of borrower, or guarantor, as the case may be, borrower and lender. Neither the Agent, Collateral Agent nor any Lender shall have any fiduciary responsibilities to the Credit Parties. Neither the Agent, Collateral Agent nor any Lender undertakes any responsibility to the Credit Parties to review or inform the Credit Parties of any matter in connection with any phase of the Credit Parties' business or operations.

Appears in 1 contract

Samples: Credit Agreement (Lynch Corp)

Nonliability of Agent and Lenders. The relationship between Credit PartiesBorrowers, Lenders and Agent and Lenders shall be solely that of borrower, or guarantor, as the case may be, borrower and lender. Neither Agent nor any Lender shall have any fiduciary responsibilities to Credit Loan Parties. Neither Agent nor any Lender undertakes any responsibility to Credit Loan Parties to review or inform Credit Loan Parties of any matter matters in connection with any phase of Credit Loan Parties' business or operations.

Appears in 1 contract

Samples: Loan and Security Agreement (Poindexter J B & Co Inc)

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Nonliability of Agent and Lenders. The relationship between Credit Parties, the Borrowers and the Lenders and the Agent and Lenders shall be solely that of borrower, or guarantor, as the case may be, borrower and lender. Neither Agent nor the Agent, any Lender or any Issuing Lender shall have any fiduciary responsibilities to any Credit PartiesParty. Neither Agent nor the Agent, any Lender or any Issuing Lender undertakes any responsibility to any Credit Parties Party to review or inform such Credit Parties Party of any matter in connection with any phase of any other Credit Parties’ Party's business or operations.

Appears in 1 contract

Samples: Credit Agreement (Bway Corp)

Nonliability of Agent and Lenders. The relationship between the Credit Parties, Agent and Lenders shall be solely that of borrower, or guarantor, as the case may be, obligor and lender. Neither Agent nor any Lender shall have any fiduciary responsibilities to the Credit Parties. Neither Agent nor any Lender undertakes any responsibility to the Credit Parties to review or inform the Credit Parties of any matter in connection with any phase of any Credit Parties’ Party’s business or operations.

Appears in 1 contract

Samples: Loan and Security Agreement (Addus HomeCare Corp)

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