Common use of Nonreliance on Agent and Other Banks Clause in Contracts

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired Business, Holdings, the Borrower or their respective Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (Collins & Aikman Floor Coverings Inc)

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Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower Credit Parties or any of its their Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired BusinessTarget, Holdings, the Borrower or their respective Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired BusinessTarget, Holdings, the Borrower or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired BusinessTarget, Holdings, the Borrower or their respective Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (Pine Holdings Inc)

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its Affiliates nor any of their respective officers, directors, employees, agents, agents or attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower Company or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent or any such other Person to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any such other Person or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective Company and its Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance upon the Agent or any such other Person or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective Company and its Subsidiaries. The 103 Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired Business, Holdings, the Borrower Company or their respective any of its Subsidiaries which may come into the possession of the Agent or any of its Affiliates or any of their officers, directors, employees, agents, agents or attorneys-in-fact or affiliatesfact.

Appears in 1 contract

Samples: Revolving Credit Agreement (Superior Telecom Inc)

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, HoldingsParent, the Borrower or their respective Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance reli- ance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, HoldingsParent, the Borrower or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness credit-worthiness of the Acquired Business, HoldingsParent, the Borrower or their respective Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, agents PARA attorneys-in-fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (Maple Leaf Aerospace Inc)

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact attorneysinfact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower or any Subsidiary of its Subsidiariesthe Borrower, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other conditionconditions, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective and its Subsidiaries and made its own decision to make its Loans hereunder and enter into this AgreementAgreement and the other agreements contemplated hereby. Each Bank also represents that it will, independently and without reliance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other conditionconditions, prospects and creditworthiness of the Acquired BusinessBorrower and its Subsidiaries. Except for notices, Holdingsreports and other documents expressly required to be furnished to the Banks by the Agent hereunder, the Borrower or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other conditionconditions, prospects or creditworthiness of the Acquired Business, Holdings, the Borrower or their respective any of its Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-fact attorneysinfact or affiliates. Neither the Agent nor any Bank shall be deemed to be a fiduciary or have any fiduciary duty to any other Bank or Credit Party.

Appears in 1 contract

Samples: Credit Agreement (Styling Technology Corp)

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Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower Borrowers or any of its their respective Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower Borrowers or their respective Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower Borrowers or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired Business, Holdings, the Borrower Borrowers or their respective Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-in- fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (SMT Health Services Inc)

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges acknowl edges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without with out reliance upon the Agent or any other Bank, and based on such documents and information informa tion as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness credit worthiness of the Acquired Business, Holdings, the Borrower or their respective its Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently indepen dently and without reliance upon the Agent or any other Bank, and based on such documents docu ments 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, Holdings, the Borrower or their respective its Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired Business, Holdings, the Borrower or their respective its Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (Alliance Imaging of Michigan Inc)

Nonreliance on Agent and Other Banks. Each Bank expressly ------------------------------------ acknowledges that neither the Agent nor any of its respective officers, directors, employees, agents, attorneys-in-fact or affiliates have made any representations or warranties to it and that no act by the Agent hereinafter taken, including any review of the affairs of the Borrower Parent or any of its Subsidiaries, shall be deemed to constitute any representation or warranty by the Agent to any Bank. Each Bank represents to the Agent that it has, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, HoldingsParent, the either Borrower or their respective Subsidiaries and made its own decision to make its Loans hereunder and enter into this Agreement. Each Bank also represents that it will, independently and without reliance upon the Agent or any other Bank, 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 to make such investigation as it deems necessary to inform itself as to the business, assets, operations, property, financial and other condition, prospects and creditworthiness of the Acquired Business, HoldingsParent, the either Borrower or their respective Subsidiaries. The Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the business, operations, assets, property, financial and other condition, prospects or creditworthiness of the Acquired Business, HoldingsParent, the either Borrower or their respective Subsidiaries which may come into the possession of the Agent or any of its officers, directors, employees, agents, attorneys-in-fact or affiliates.

Appears in 1 contract

Samples: Credit Agreement (Tristar Aerospace Co)

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