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

Nonreliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and 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 analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person (or any of their Affiliates) which may come into the possession of the Agent; provided, that the Agent shall make available to any Bank, upon its request, (i) copies of the Agent's records with respect to all sums received or expended by the Agent in connection with the Loans and the Loan Documents, (ii) information as to the amount of the then outstanding Loans, Letters of Credit and Reimbursement Obligations and (iii) copies of any documents pertaining to an Eligible Property requested by such Bank and held by the Agent pursuant to Section 6.24(b).