Obligations; Reliance Sample Clauses
The "Obligations; Reliance" clause defines the specific duties and responsibilities that each party is expected to fulfill under the agreement, and clarifies that parties are entitled to rely on each other's representations and commitments. In practice, this clause outlines what actions or standards are required from each side, such as delivering goods, providing services, or maintaining confidentiality, and establishes that each party can trust the other to meet these obligations without independent verification. Its core function is to ensure mutual accountability and trust, reducing the risk of disputes by making clear what each party must do and that they can depend on the other's compliance.
Obligations; Reliance. Except during the continuance of an Event of Default:
(i) the Indenture Trustee agrees to perform the obligations and only the obligations stated in this Indenture and no implied covenants or obligations are to be read into this Indenture; and
(ii) in the absence of willful misconduct, bad faith or negligence on its part, the Indenture Trustee may conclusively rely, for the truth of the statements and the correctness of the opinions furnished to it, on certificates or opinions furnished to it and, if required by this Indenture, conforming to the requirements of this Indenture. The Indenture Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements, if any, of this Indenture.
Obligations; Reliance. Except during the continuance of an Event of Default with respect to Group 1:
(i) the Indenture Trustee agrees to perform the duties and only such duties as specifically stated in this Indenture and no implied covenants, duties (including fiduciary duties) or obligations are to be read into this Indenture against the Indenture Trustee; and
(ii) in the absence of willful misconduct, bad faith or negligence on its part, the Indenture Trustee may conclusively rely, for the truth of the statements and the correctness of the opinions furnished to it, on certificates or opinions furnished to it and, if required by this Indenture, conforming to the requirements of this Indenture. The Indenture Trustee will examine the certificates and opinions to determine whether or not they conform as to form to the requirements (but need not confirm or investigate the accuracy of mathematical calculations or other facts therein), if any, of this Indenture.
Obligations; Reliance. Except during the continuance of a Facility Event of Default or an Exchange Note Event of Default:
(i) the Administrative Agent agrees to perform the obligations and only the obligations stated in this Agreement and no implied covenants or obligations are to be read into this Agreement; and
(ii) in the absence of willful misconduct, bad faith or negligence on its part, the Administrative Agent may conclusively rely, for the truth of the statements and the correctness of the opinions furnished to it, on certificates or opinions furnished to it and, if required by this Agreement, conforming to the requirements of this Agreement. The Administrative Agent will examine the certificates and opinions to determine whether or not they conform to the requirements, if any, of this Agreement.