Common use of Reliance by Administrative Agent and the Collateral Agent Clause in Contracts

Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the Administrative Agent and the Collateral Agent, respectively, may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 4 contracts

Samples: Credit Agreement (Royal Resources Partners LP), Second Lien Credit Agreement (Royal Resources Partners LP), Credit Agreement (Royal Resources Partners LP)

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Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document document, writing or other writing communication (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan an Advance or any Conversion or continuance of an Advance that by its terms must be fulfilled to the satisfaction of a LenderLender or the Collateral Agent, the Administrative Agent may presume that such condition is satisfactory to such Lender or the Collateral Agent unless the Administrative Agent shall have received notice to the contrary from such Lender or the Collateral Agent prior to the making of such LoanAdvance or Conversion or continuance of an Advance. Each of the The Administrative Agent and the Collateral Agent, respectively, may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and the Administrative Agent shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 3 contracts

Samples: Credit Agreement (Penn Virginia Corp), Credit Agreement (CVR Energy Inc), Credit Agreement (Penn Virginia Corp)

Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, each of the Administrative Agent and the Collateral Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent or the Collateral Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the Administrative Agent and the 105 Collateral Agent, respectively, Agent shall be entitled to rely on and may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 2 contracts

Samples: Credit Agreement (Contura Energy, Inc.), Credit Agreement (Contura Energy, Inc.)

Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a LenderLender or the Issuing Bank, the each of Administrative Agent and Collateral Agent may presume that such condition is satisfactory to such Lender or the Issuing Bank unless the Administrative Agent or Collateral Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such LoanLoan or the issuance of such Letter of Credit. Each of the Administrative Agent and the Collateral Agent, respectively, Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Paramount Acquisition Corp)

Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, each of the Administrative Agent and the Collateral Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent or the Collateral Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely on and may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Contura Energy, Inc.)

Reliance by Administrative Agent and the Collateral Agent. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a LenderLender or the Issuing Bank, the Administrative Agent and the Collateral Agent may presume that such condition is satisfactory to such Lender or the Issuing Bank unless the Administrative Agent and the Collateral Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such LoanLoan or the issuance of such Letter of Credit. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent may consult with legal counsel (who may be counsel for the BorrowerBorrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Pledge and Security Agreement (Tumi Holdings, Inc.)

Reliance by Administrative Agent and the Collateral Agent. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent or the Collateral Agent, as the case may be, may presume that such condition is satisfactory to such Lender unless the Administrative Agent or the Collateral Agent, as the case may be, shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Next.e.GO B.V.)

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Reliance by Administrative Agent and the Collateral Agent. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a LenderLender or an L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or such L/C Issuer prior to the making of such LoanLoan or the issuance of such Letter of Credit. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (MGM Resorts International)

Reliance by Administrative Agent and the Collateral Agent. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent shall each be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent also may each rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a LenderLender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such LoanLoan or the issuance of such Letter of Credit. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent may each consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Tetra Tech Inc)

Reliance by Administrative Agent and the Collateral Agent. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent and the Collateral Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent or the Collateral Agent, as applicable, shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the The Administrative Agent and the Collateral Agent, respectively, Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Grizzly Energy, LLC)

Reliance by Administrative Agent and the Collateral Agent. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each of the Administrative Agent and the Collateral Agent, respectively, Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, each of the Administrative Agent and the Collateral Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent or the Collateral Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. Each of the Administrative Agent and the Collateral Agent, respectively, Agent shall be entitled to rely on and may consult with legal counsel (who may be counsel for the BorrowerBorrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Credit Agreement (Contura Energy, Inc.)

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