Common use of Nonliability of Bank Clause in Contracts

Nonliability of Bank. Borrower acknowledges and agrees that: (a) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (b) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral held by Bank or the operations of Borrower; Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity is entitled to rely thereon; and (c) Bank shall not be responsible or liable to any person or entity for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim.

Nonliability of Bank. Borrower acknowledges and agrees that: (a) Any inspections of collateral made by Bank are for purposes of administration of the Line of Credit only and Borrower is not entitled to rely upon the same; (b) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (bc) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of a borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral held by Bank or the operations of Borrower; Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity is entitled to rely thereon; and (cd) Bank shall not be responsible or liable to any person or entity for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim; PROVIDED that the Bank shall not be entitled to indemnification for any loss caused by its own gross negligence or willful misconduct.

Nonliability of Bank. Borrower Bank acknowledges and agrees that: (a) Any inspections of collateral made by Bank are for purposes of administration of each credit subject hereto only and Borrower is not entitled to rely upon the same; (b) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other documentdocuments, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (bc) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, remain solely that of a borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence (except as provided in Section 7.13) or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral held by Bank or the operations of Borrower; , Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity is entitled to rely thereon; and (c) Bank shall not be responsible or liable to any person or entity for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim.information

Nonliability of Bank. Borrower acknowledges and agrees that: (a) Any inspections of collateral made by Bank are for purposes of administration of the Line of Credit only and Borrower is not entitled to rely upon the same; (b) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (bc) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of a borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral held by Bank or the operations of Borrower; Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity is entitled to rely thereon; and (cd) Bank shall not be responsible or liable to any person or entity for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim; provided that the Bank shall not be entitled to indemnification for any loss caused by its own gross negligence or willful misconduct.

Nonliability of Bank. Borrower acknowledges Borrowers acknowledge and agrees agree that: (a) Any inspections of Collateral made by or through Bank are for purposes of administration of the Loan only and Borrowers are not entitled to rely upon the same; (b) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (bc) The relationship between Borrower Borrowers and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of borrower and lender; Bank shall not under any circumstance be construed to be a partner partners or joint venturer venturers of BorrowerBorrowers or its Affiliates; Bank shall not under any circumstances circumstance be deemed to be in a relationship of confidence or trust or a fiduciary relationship with BorrowerBorrowers or their Affiliates, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan DocumentsBorrowers or their Affiliates; Bank does shall not undertake or assume any responsibility or duty to Borrower Borrowers or their Affiliates to select, review, inspect, supervise, pass judgment upon or inform Borrower Borrowers or their Affiliates of any matter in connection with its propertytheir Property, any collateral Collateral held by Bank or the operations of BorrowerBorrowers or their Affiliates; Borrower Borrowers and their Affiliates shall rely entirely upon its their own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither no Borrower nor or any other person or entity Person is entitled to rely thereon; and (cd) Bank shall not be responsible or liable to any person or entity Person for any loss, damage, liability or claim of any kind relating to injury or death to persons Persons or damage to property Property caused by the actions, inaction or negligence of Borrower Borrowers and/or their Affiliates and Borrower Borrowers hereby indemnifies indemnify and holds hold Bank harmless from any such loss, damage, liability or claim.

Nonliability of Bank. Borrower Company acknowledges and agrees that: (a) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (b) The relationship between Borrower Company and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of borrower and lender; , and Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume neither undertakes nor assumes any responsibility or duty to Borrower Company to select, review, inspect, supervise, pass judgment upon or inform Borrower Company of any matter in connection with its propertythe Project, including without limitation matters relating to the adequacy or legal sufficiency of any collateral held by Bank of the documents, agreements or arrangements pertaining to the Bonds, the Bond Documents or the operations rights or obligations of Borrowerany Person in connection therewith; Borrower and Company shall rely entirely upon its own judgment with respect to such matters; , and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed supplied to Company by Bank in connection with such matters is solely for the protection of Bank only and neither Borrower Company nor any other person or entity Person is entitled to rely thereon; and; (b) Bank owes no duty of care to protect Company against negligent, faulty, inadequate or defective building or construction; (c) Bank shall not be responsible or liable to any person or entity Company for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by or negligent, faulty, inadequate or defective building or construction and Company hereby (d) Bank shall not be responsible or liable to Company for use which may be made of the actionsLetter of Credit or for any acts or omissions of Trustee and any beneficiary or transferee in connection therewith; (e) Bank shall not be responsible or liable to Company for the validity, inaction sufficiency or genuineness of documents (except as to Bank's signatures thereon), or of any endorsements thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent, or forged (except to the extent Bank is grossly negligent in accepting or relying upon such documents); (f) Bank shall not be responsible or liable to Company as a result of any circumstances in any way related to the making or failure to make payment under the Letter of Credit, other than as a result of the gross negligence or willful misconduct of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claimBank.

Nonliability of Bank. Borrower acknowledges and agrees that: (a) Any inspections of Collateral made by Bank are for purposes of administration of the Line of Credit only and Borrower is not entitled to rely upon the same; (b) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (bc) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of a borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral Collateral held by Bank or the operations of Borrower; Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity is entitled to rely thereon; and (cd) Bank shall not be responsible or liable to any person or entity for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim.

Nonliability of Bank. Borrower Company acknowledges and agrees that: (a) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (b) The relationship between Borrower Company and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of borrower and lender; , and Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume neither undertakes nor assumes any responsibility or duty to Borrower Company to select, review, inspect, supervise, pass judgment upon or inform Borrower Company of any matter in connection with its propertythe Project, including without limitation matters relating to the adequacy or legal sufficiency of any collateral held by Bank of the documents, agreements or arrangements pertaining to the Series B Bonds, the Bond Documents or the operations rights or obligations of Borrowerany Person in connection therewith; Borrower and Company shall rely entirely upon its own judgment with respect to such matters; , and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed supplied to Company by Bank in connection with such matters is solely for the protection of Bank only and neither Borrower Company nor any other person or entity Person is entitled to rely thereon; and; (b) Bank owes no duty of care to protect Company against negligent, faulty, inadequate or defective building or construction; (c) Bank shall not be responsible or liable to any person or entity Company for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by in connection with the actionsnegligent, inaction faulty, inadequate or negligence defective building or construction or use or operation of Borrower any of the Properties, and Borrower Company hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim. (d) Bank shall not be responsible or liable to Company for use which may be made of the Series B Letter of Credit or for any acts or omissions of Trustee and any beneficiary or transferee in connection therewith; (e) Bank shall not be responsible or liable to Company for the validity, sufficiency or genuineness of documents (except as to Bank's signatures thereon), or of any indorsements thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent, or forged (except to the extent Bank is grossly negligent in accepting or relying upon such documents); (f) Bank shall not be responsible or liable to Company as a result of any circumstances in any way related to the making or failure to make payment under the Series B Letter of Credit, other than as a result of the gross negligence or willful misconduct of Bank.

Nonliability of Bank. Borrower acknowledges and agrees that: (a) By accepting or approving anything required to be observed, performed, fulfilled or given to Bank pursuant to the Loan Documents, including any certificate, financial statement, insurance policy or other document, Bank shall not be deemed to have warranted or represented the sufficiency, legality, effectiveness or legal effect of the same, or of any term, provision or condition thereof, and such acceptance or approval thereof shall not constitute a warranty or representation to anyone with respect thereto by Bank; (b) The relationship between Borrower and Bank in connection with this Agreement and the other Loan Documents is, and shall at all times remain, solely that of a borrower and lender; Bank shall not under any circumstance be construed to be a partner or joint venturer of Borrower; Bank shall not under any circumstances be deemed to be in a relationship of confidence or trust or a fiduciary relationship with Borrower, or to owe any fiduciary duty to Borrower as a result of the transactions arising under this Agreement and the other Loan Documents; Bank does not undertake or assume any responsibility or duty to Borrower to select, review, inspect, supervise, pass judgment upon or inform Borrower of any matter in connection with its property, any collateral held by Bank property or the operations of Borrower; Borrower shall rely entirely upon its own judgment with respect to such matters; and any review, inspection, supervision, exercise of judgment or supply of information undertaken or assumed by Bank in connection with such matters is solely for the protection of Bank and neither Borrower nor any other person or entity Person is entitled to rely thereon; and (c) Bank shall not be responsible or liable to any person or entity Person for any loss, damage, liability or claim of any kind relating to injury or death to persons or damage to property caused by the actions, inaction or negligence of Borrower and Borrower hereby indemnifies and holds Bank harmless from any such loss, damage, liability or claim.