Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders.
Appears in 6 contracts
Samples: Warehousing Credit Agreement (American Finance Group Inc /De/), Warehousing Credit Agreement (PLM International Inc), Warehousing Credit Agreement (PLM International Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificatecertification, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereofpurposes. As to the Lenders:
(1) the Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Majority Lenders or all of the Lenders, as it deems appropriate appropriate, or it shall first be indemnified to its satisfaction by the Lenders ratably in accordance with their respective Percentage Shares against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action (except for its own liabilities and expenses resulting from the Agent’s gross negligence or willful misconduct. ), and (2) the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Loan Documents in accordance with a request of the Requisite Majority Lenders or all of the Lenders, as appropriate, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 4 contracts
Samples: Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrower or any of the Guarantors), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note and until a written notice of assignment, negotiation, or transfer thereof shall have been transferred in accordance with Section 11.10 hereofreceived by the Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified and contribution by each Lender of its Percentage Share of costs reasonably expected by the Agent to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductin connection therewith. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such . Such request and any action taken or failure to act pursuant thereto shall be binding upon the Lenders and all Lendersfuture holders of the Notes. In no event shall the Agent be required to take any action that exposes the Agent to personal liability or that is contrary to any Loan Document or applicable Requirement of Law.
Appears in 4 contracts
Samples: Credit Agreement (Primeenergy Corp), Credit Agreement (Gastar Exploration LTD), Credit Agreement (Gastar Exploration LTD)
Reliance by Agent. The Agent shall be entitled to relyrely upon, and shall be fully protected in relyingrelying and shall not incur any liability for relying upon, upon any notenotice, writingrequest, resolutioncertificate, noticecommunication, consent, certificatestatement, affidavitinstrument, letter, cablegram, telegram, telecopy, telex document or teletype other writing (including any electronic message, statement, order Internet or intranet website posting or other document or conversation distribution) believed by it to be genuine and correct and to have been signed, sent or otherwise authenticated by the proper Person. The 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 Person, and shall be fully protected in relying and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of an Advance, or Persons and upon advice and statements the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Bank, the Agent may presume that such condition is satisfactory to such Lender or the Issuing Bank unless the Agent shall have received notice to the contrary from such Lender or the Issuing Bank prior to the making of such Advance or the issuance of such Letter of Credit. The Agent may consult with legal counsel (including, without limitation, who may be counsel to Borrowerfor the Borrowers), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lendersit, and such request and shall not be liable for any action taken or failure to act pursuant thereto not taken by it in accordance with the advice of any such counsel, accountants or experts. For purposes of determining compliance with the conditions specified in Section 3.01 and in 3.02 on the Effective Date , each Lender that has signed this Agreement shall be binding upon all Lendersdeemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Agent shall have received notice from such Lender prior to the proposed Effective Date specifying its objections.
Appears in 4 contracts
Samples: Credit Agreement (Scholastic Corp), Credit Agreement (Scholastic Corp), Credit Agreement (Scholastic Corp)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrowers), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 13.9 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders (or, when expressly required hereby or by the relevant other Loan Document, all the Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Lenders (or, when expressly required hereby, all the Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 4 contracts
Samples: Revolving Credit Loan Agreement (Orleans Homebuilders Inc), Revolving Credit Loan Agreement (Orleans Homebuilders Inc), Revolving Credit Loan Agreement (Orleans Homebuilders Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of Lender specified in the Register with respect to any promissory note issued pursuant to this Agreement amount owing hereunder as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Majority Lenders (or, to the extent that this Agreement expressly requires a higher percentage of Lenders, such higher percentage), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the obligations owing by the Company hereunder.
Appears in 3 contracts
Samples: Bridge Loan Agreement (Capmark Finance Inc.), Bridge Loan Agreement (Capmark Financial Group Inc.), Credit Agreement (Residential Capital, LLC)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION
12.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it and shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 3 contracts
Samples: Loan and Security Agreement (Burke Industries Inc /Ca/), Loan and Security Agreement (Burke Industries Inc /Ca/), Loan and Security Agreement (Nabi /De/)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any Subsidiary), independent accountants and other experts selected by the Agent. Agent The agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems they deem appropriate or it they shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes and the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 3 contracts
Samples: Credit Agreement (Dover Downs Entertainment Inc), Credit Agreement (Dover Downs Entertainment Inc), Credit Agreement (Dover Downs Entertainment Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 3 contracts
Samples: Credit Agreement (Outsource International Inc), Credit Agreement (Outsource International Inc), Credit Agreement (Outsource International Inc)
Reliance by Agent. The Agent and the Managing Agents shall in all cases be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to BorrowerSeller), independent accountants and other experts selected by the Agent or any Managing Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for Managing Agents shall in all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall cases be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Transaction Document unless it shall first receive such advice or concurrence of the Requisite Lenders Conduits or the Required Financial Institutions or all of the Purchasers, as it deems applicable, as they deem appropriate or it and they shall first be indemnified to its their satisfaction by Lenders against the Purchasers, provided that unless and until the Agent or any and all liability and expense which may be incurred by it by reason of taking Managing Agent shall have received such advice, or continuing unless the Required Financial Institutions or each Managing Agent, as applicable, shall have directed the Agent to take or refrain from taking any action, the Agent or such action except for its own gross negligence Managing Agent may take or willful misconductrefrain from taking any action, as the Agent or such Managing Agent shall deem advisable and in the best interests of the Purchasers. The Agent and the Managing Agents shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lendersrelated Conduits or the Required Financial Institutions or all of the Purchasers, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Purchasers.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Anixter International Inc), Receivables Purchase Agreement (Anixter International Inc), Receivables Purchase Agreement (Anixter International Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to each Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. As between the Agent and the other Lenders, the Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. As between the Agent and the other Lenders, the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Loan Documents in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 3 contracts
Samples: Master Loan and Security Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp), Loan Agreement (New Century Financial Corp)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor, the Guarantor or the Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Lenders Required Funding Parties as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 3 contracts
Samples: Master Agreement (Ruby Tuesday Inc), Master Agreement (Ruby Tuesday Inc), Master Agreement (Ruby Tuesday Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, communication, signature, resolution, representation, notice, consent, certificate, electronic mail message, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it shall first be indemnified so requests, confirmation from the Lenders of their obligation to its satisfaction by Lenders indemnify Agent against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenderseach Lender. For purposes of determining compliance with the conditions specified in Section 12, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Appears in 3 contracts
Samples: Credit Agreement (A-Mark Precious Metals, Inc.), Credit Agreement (Greenlight Capital Re, Ltd.), Credit Agreement (A-Mark Precious Metals, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any other Loan Party), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 3 contracts
Samples: Credit Agreement (Rockefeller Center Properties Inc), Credit Agreement (Diversified Food Group Inc), Credit Agreement (Rcpi Trust /De/)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to BorrowerBorrowers), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders or Majority Lenders, as applicable, as it deems appropriate or and, if it so requests, it shall first be indemnified to its satisfaction by all Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Required Lenders or Majority Lenders, as applicable, (or all Lenders if so required by Paragraph 11.1) and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders.
Appears in 3 contracts
Samples: Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.), Loan and Security Agreement (Regional Management Corp.)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopytelefacsimile or other electronic method of transmission, telex or teletype telephone message, statement, order statement or other document or conversation believed by it in good faith to be genuine and correct and to have been signed, sent sent, or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including an opinion of counsel to BorrowerBorrowers or advice of counsel to any Lender), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it Agent shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate and until such instructions are received, Agent shall act, or refrain from acting, as it deems advisable. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by the Lenders (and, if it so elects, the Bank Product Providers) against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Required Lenders (or Supermajority Lenders or all Lenders, as required by Section 14.1) and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersof the Lenders (and Bank Product Providers).
Appears in 2 contracts
Samples: Credit Agreement (FTS International, Inc.), Credit Agreement (FTS International, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, facsimile, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerone or more of the Borrowers), independent accountants and other experts selected by such Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and or the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes or the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 2 contracts
Samples: Credit Agreement (Tasty Baking Co), Credit Agreement (Tasty Baking Co)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor or any Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement each Lender as the owner thereof of its pro rata share of the Loans for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Subject to the Operative Documents, the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of an interest in the Notes.
Appears in 2 contracts
Samples: Loan Agreement (Choicepoint Inc), Loan Agreement (Borders Group Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice (including any telephonic notice), consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), the Accountants and independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note or the holder of any Loan, as set forth in the Register, as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders or all Lenders, as it deems appropriate appropriate, or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense (except those incurred solely as a result of the Agent’s gross negligence or willful misconduct as determined by the final non-appealable judgment of a court of competent jurisdiction) which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders or all Lenders, as may be required, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, communication, signature, resolution, representation, notice, consent, certificate, electronic mail message, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it shall first be indemnified so requests, confirmation from the Lenders of their obligation to its satisfaction by Lenders indemnify Agent against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenderseach Lender. Solely for purposes of determining compliance with the conditions specified in Section 10.1, each Lender that has signed this Loan Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Appears in 2 contracts
Samples: Loan and Security Agreement (Agritech Worldwide, Inc.), Loan and Security Agreement (Agritech Worldwide, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon on any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal all counsel (including, without limitation, including counsel to Borrowerthe Borrower and/or Parent Guarantor to the extent such counsel so comments in writing), independent accountants Independent Accountants and other experts selected by the Agent. The Agent may deem and treat the named payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite LendersMajority Lenders (or such other percentage of the Lenders as required by the provisions of this Agreement), and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLenders and all future holders of the Notes.
Appears in 2 contracts
Samples: Credit Agreement (Interpool Inc), Credit Agreement (Interpool Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be ----------------- fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it them to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 2 contracts
Samples: Credit Agreement (Creditrust Corp), Credit Agreement (Creditrust Corp)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteTerm Note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerany member of the Partnership Group), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Term Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer in respect thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and Agreement, the Mortgages or any other Loan Documents Restructuring Document unless it shall first receive such advice or concurrence of the Requisite Lenders Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Mortgages and any other Restructuring Document in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and their successors and assigns.
Appears in 2 contracts
Samples: Master Loan Restructuring Agreement (Atwood Oceanics Inc), Master Loan Restructuring Agreement (Atwood Oceanics Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, communication, signature, resolution, representation, notice, consent, certificate, electronic mail message, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrowers), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it shall first be indemnified so requests, confirmation from the Lenders of their obligation to its satisfaction by Lenders indemnify Agent against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenderseach Lender. For purposes of determining compliance with the conditions specified in Section 11, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Appears in 2 contracts
Samples: Subordinated Term Loan and Security Agreement (Summit Healthcare REIT, Inc), Term Loan and Security Agreement (Summit Healthcare REIT, Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Companies), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Transaction Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Holders (or, when expressly required hereby, all the Holders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Holders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Transaction Documents in accordance with a request of the Requisite LendersRequired Holders (or, when expressly required hereby, all the Holders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Holders and all future Holders.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Qsgi Inc.), Securities Purchase Agreement (Qsgi Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerone or more of the Borrowers), independent accountants and other experts selected by such Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and or the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes or the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 2 contracts
Samples: Credit Agreement (West Pharmaceutical Services Inc), Credit Agreement (West Pharmaceutical Services Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex facsimile or teletype messageElectronically submitted Communication, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all affected Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all affected Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Abl Credit Agreement (Mallinckrodt PLC), Abl Credit Agreement (Mallinckrodt PLC)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteRevolving Note, any Term Note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerany Loan Party), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Revolving Note or any Term Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred received an executed Transfer Supplement in accordance with Section 11.10 hereofrespect thereof. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Revolving Notes and all future holders of the Term Notes.
Appears in 2 contracts
Samples: Credit Agreement (Genmar Holdings Inc), Credit Agreement (Genmar Holdings Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement original Lenders as the owner thereof owners of the respective Notes for all purposes unless such promissory note shall have been transferred until receipt by the Agent of a written notice of assignment, negotiation or transfer of any interest therein by the Lenders in accordance with Section 11.10 hereofthe terms of this Agreement. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Financing Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Financing Document in accordance with a request or consent of the Requisite Lenders, Required Lenders (or all Lenders if so required by Section 9.2.2 (Consent of All Lenders Required)) and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders.
Appears in 2 contracts
Samples: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders or (if required) the Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders or (if required) the Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Credit and Guarantee Agreement (Remington Products Co LLC), Credit and Guarantee Agreement (Remington Products Co LLC)
Reliance by Agent. Agent Each Agent, Issuing Lender or Underlying Issuer shall be entitled to relyrely upon, and shall be fully protected in relyingnot incur any liability for relying upon, upon any notenotice, writingrequest, resolution, noticecertificate, consent, certificatestatement, affidavitinstrument, letter, cablegram, telegram, telecopy, telex document or teletype other writing (including any electronic message, statement, order internet or intranet website posting or other document or conversation distribution) believed by it to be genuine and correct and to have been signed, sent sent, or otherwise authenticated by a proper person. Each Agent, Issuing Lender or Underlying Issuer also may rely upon any statement made to it orally and believed by it to be made by a proper person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the proper Person making of a Loan, or Persons and upon advice and statements the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the Issuing Lender, each Agent may presume that such condition is satisfactory to such Lender or the Issuing Lender unless each Agent shall have received written notice to the contrary from such Lender or the Issuing Lender prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent, Issuing Lender or Underlying Issuer may consult with legal counsel (including, without limitation, who may be counsel to for Borrower), independent accountants and other experts advisors selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lendersit, and such request and shall not be liable for any action taken or failure to act pursuant thereto shall be binding upon all Lendersnot taken by it in accordance with the advice of any such counsel, accountants or advisors.
Appears in 2 contracts
Samples: Credit Agreement (BioScrip, Inc.), Credit Agreement (BioScrip, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegramtelecopy, telegram, telecopyelectronic image scan transmission, telex or teletype message, statement, order or other document or conversation believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, any counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of Lender specified in the Register with respect to any promissory note issued pursuant to this Agreement amount owing hereunder as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request of the Requisite Majority Lenders (or to the extent that this Agreement expressly requires a higher percentage of Lenders, such higher percentage) and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the obligations owing by the Borrower hereunder.
Appears in 2 contracts
Samples: Term Loan Agreement (General Motors Corp), 364 Day Revolving Credit Agreement (General Motors Corp)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrowers or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION 13.
1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tultex Corp), Loan and Security Agreement (Tultex Corp)
Reliance by Agent. Each Agent shall be entitled to relyrely upon, and shall be fully protected in relyingnot incur any liability for relying upon, upon any note, writing, resolution, notice, request, certificate, consent, certificatestatement, instrument, document, affidavit, letter, cablegram, telegramfacsimile, telecopytelex, telex or teletype message, statement, order message or other document or conversation writing believed by it to be genuine and correct and to have been signed, signed or sent or by a proper person. Each Agent also may rely upon any statement made to it orally and believed by it to be made by the a proper Person or Persons person, and upon advice and statements of shall not incur any liability for relying thereon. Each Agent may consult with legal counsel (including, without limitation, who may be counsel to Borrowerfor the Company), independent accountants and other experts advisors selected by Agent. Agent may deem it, and treat the payee of shall not be liable for any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred action taken or not taken by it in accordance with Section 11.10 hereofthe advice of any such counsel, accountants or advisors. Agent The Agents shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Credit Document unless it they shall first receive such advice or concurrence of the Requisite Required Lenders as it deems they deem appropriate or it they shall first be indemnified to its their satisfaction by the Lenders against any and all liability and expense which may be incurred by it them by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent As between the Agents and the Lenders, the Agents shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Credit Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 2 contracts
Samples: Second Lien Senior Credit Agreement (Wellman Inc), First Lien Senior Credit Agreement (Wellman Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of Lender specified in the Register with respect to any promissory note issued pursuant to this Agreement amount owing hereunder as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Majority Lenders (or, to the extent that this Agreement expressly requires a higher percentage of Lenders, such higher percentage), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the obligations owing by any Borrower hereunder.
Appears in 2 contracts
Samples: Credit Agreement (Capmark Finance Inc.), Credit Agreement (Capmark Financial Group Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Credit Agreement (Friendlys Restaurants Franchise Inc), Credit Agreement (Friendly Ice Cream Corp)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofAgent. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected by all Lenders in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLenders and all future holders of the Notes.
Appears in 2 contracts
Samples: Construction Loan Agreement (Taubman Realty Group LTD Partnership), Construction Loan Agreement (Taubman Centers Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by Agentsuch Agent with reasonable care. The Agent may deem and treat the payee of any promissory note issued Person whose name is recorded in the Register pursuant to this Agreement the terms hereof as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Administrative Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, to the extent provided in Section 10.1, all of the Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, to the extent provided in Section 10.1, all of the Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Credit Agreement (Cpi Aerostructures Inc), Credit Agreement (Cpi Aerostructures Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex facsimile or teletype messageElectronically submitted Communication, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Parent Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all affected Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all affected Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 2 contracts
Samples: Abl Credit Agreement (Specialty Building Products, Inc.), Abl Credit Agreement (Specialty Building Products, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrowers), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Transaction Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Holders (or, when expressly required hereby, all the Holders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Holders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Transaction Documents in accordance with a request of the Requisite LendersRequired Holders (or, when expressly required hereby, all the Holders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Holders and all future Holders.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Loan Parties), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, when expressly required hereby, all the Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, when expressly required hereby, all the Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future Lenders.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any other Loan Party), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 1 contract
Samples: Convertible Loan Agreement (Healthcor Holdings Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, communication, signature, resolution, representation, notice, consent, certificate, electronic mail message, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it shall first be indemnified so requests, confirmation from the Lenders of their obligation to its satisfaction by Lenders indemnify Agent against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any 85 action taken or failure to act pursuant thereto shall be binding upon all Lenderseach Lender. For purposes of determining compliance with the conditions specified in Section 12, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Agent shall have received written notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Appears in 1 contract
Reliance by Agent. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificatecertification, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Parent, the Company, or any Subsidiary Guarantor), independent accountants and other experts selected by such Agent. The Lead Administrative Agent may deem and treat each Lender designated on the payee of any promissory note issued pursuant to this Agreement current Commitment Schedule as the owner thereof a Lender hereunder for all purposes of the Credit Documents unless a written notice of assignment, negotiation or transfer of such promissory note Lender’s interests hereunder and thereunder as permitted pursuant to Paragraph 14 below shall have been transferred in accordance filed with Section 11.10 hereofthe Lead Administrative Agent. Each Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Credit Documents unless it shall first receive such advice or concurrence of the Requisite Majority Lenders (or all Lenders, as it deems appropriate required under the Credit Documents) or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any action (other than liability and/or expense arising out of such action except for its own Agent’s gross negligence or willful misconduct). Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Credit Documents in accordance with a request of the Requisite Majority Lenders (or all Lenders, if applicable) absent gross negligence and willful misconduct on the part of such Agent in the method in which it acts or refrains from acting in accordance therewith, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Countrywide Credit Industries Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerany Borrower or counsel to any Lender), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and or any of the other Loan Documents Financing Agreements unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate and until such instructions are received, Agent shall act or refrain from acting, as it deems advisable so long as it is not grossly negligent or guilty of wilful misconduct. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except action. As to any matters not expressly provided for its own gross negligence by this Agreement or willful misconduct. any other Financing Agreement, Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement hereunder or thereunder in accordance with a request of instructions given by the Requisite Required Lenders, and or all of Lenders as is required in such request circumstance, and any action taken or failure to act pursuant thereto shall be binding upon on all Lenders.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, opinion, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat each Lender, or the payee of any promissory note issued pursuant to Person designated in the last notice filed with it under this Agreement Section, as the owner thereof for holder of all purposes unless of the interests of such promissory note Lender in its Loans and in its Note until written notice of transfer, signed by such Lender (or the Person designated in the last notice filed with the Agent) and by the Person designated in such written notice of transfer, in form and substance satisfactory to the Agent, shall have been transferred filed with the Agent. The Agent shall not be under any duty to examine or pass upon the validity, effectiveness or genuineness of the Loan Documents or any instrument, document or communication furnished pursuant thereto or in accordance with Section 11.10 hereofconnection therewith, and the Agent shall be entitled to assume that the same are valid, effective and genuine, have been signed or sent by the proper parties and are what they purport to be. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductappropriate. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Loan Documents in accordance with a request or direction of the Requisite Required Lenders, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any notewriting (including any electronic messages, writinginternet or intranet website posting or other distribution), resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation (written or oral) believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrower Parties), independent accountants and other experts selected by the Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders (or all Lenders if so required by Section 11.1) and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders. Furthermore, Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it (at the expense of Borrowers), 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 (Salton Inc)
Reliance by Agent. Each Agent shall be entitled to rely, and shall ----------------- be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been 177 signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by such Agent. Each Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Administrative Agent. Each Agent shall be fully justified as between itself and the Lenders in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders requisite Lending Parties as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite Lendersrequisite Lending Parties, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Credit Agreement (CDW Holding Corp)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, the Supermajority Lenders or all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, the Supermajority Lenders or all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Term Loan.
Appears in 1 contract
Samples: Credit Agreement (Sears Canada Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of Lender specified in the Register with respect to any promissory note issued pursuant to this Agreement amount owing hereunder as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Credit Document unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Credit Documents in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 1 contract
Samples: Pik Bridge Loan Agreement (Rockwood Holdings, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor or any Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement the Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Subject to the Operative Documents, the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of an interest in the Note.
Appears in 1 contract
Samples: Loan Agreement (Hughes Supply Inc)
Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor, the Guarantor or the Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Notes. Subject to the foregoing, and to Section 8.4 of the Master Agreement, the Agent shall take such action with respect to the Operative Documents and the Leased Property as is directed in writing by the Required Lenders, unless the Agent shall reasonably determine that such requested action is contrary to Applicable Law or in violation of the Operative Documents.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon on any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal all counsel (including, without limitation, including counsel to Borrowerthe Borrower and/or Parent Guarantor to the extent such counsel so comments in writing), independent accountants Independent Accountants and other experts selected by the Agent. The Agent may deem and treat the named payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases cases, be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite LendersMajority Lenders (or such other percentage of the Lenders as required by the provisions of this Agreement), and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLenders and all future holders of the Notes.
Appears in 1 contract
Samples: Credit Agreement (Interpool Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, certification, statement, notice or other communication, document or conversation (including those by telephone, telex, cablegram, telegram, telecopy, telex teletype message or teletype message, statement, order or other document or conversation e-mail) believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons Person, and upon the advice and statements of legal counsel Agent Professionals (including, without limitation, counsel to BorrowerObligors), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall not be fully justified bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document. Agent shall have no liability for failing or refusing to take any action under this Agreement and or the other Loan Documents unless it shall first receive such advice advice, direction, instruction or concurrence of the Requisite Lenders or the Lenders as it deems appropriate is required hereunder; and Agent has the right to seek instructions from the Requisite Lenders before acting or it shall first be indemnified electing not to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductact under this Agreement and/or the other Loan Documents. Agent shall in all cases be fully protected have no liability in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request direction or instruction of the Requisite Lenders, and such request direction or instruction and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders. This provision shall apply mutatis mutandis to Agent-Related Persons as if they were the Agent referred to herein.
Appears in 1 contract
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerone or more of the Loan Parties), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and or the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 1 contract
Samples: Credit Agreement (Transaction Network Services Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon on any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal all counsel (including, without limitation, including counsel to Borrowerany Borrower and/or Parent Guarantor to the extent such counsel so comments in writing), independent accountants and other experts selected by the Agent. The Agent may deem and treat the named payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite LendersMajority Lenders (or such other percentage of the Lenders as required by the provisions of this Agreement), and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, and shall not incur any liability for relying upon, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopytelefacsimile or other electronic method of transmission, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent sent, or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerany Borrower or counsel to any Lender), independent accountants and other experts selected by Agent. The Agent also may deem rely upon any statement made to it orally or by telephone and treat the payee of any promissory note issued pursuant believed by it to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereofmade by the proper Person, and shall not incur any liability for relying thereon. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it Agent shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate and until such instructions are received, Agent shall act, or refrain from acting, as it deems advisable. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersof the Lenders (and Bank Product Providers).
Appears in 1 contract
Samples: Credit Agreement (Pernix Therapeutics Holdings, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificatecertification, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Credit Documents unless it shall first receive such advice or concurrence of the Requisite Majority Lenders (or all Lenders, as it deems appropriate or required under the Credit Documents) and it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own (other than liability or expense arising out of the Agent's gross negligence or willful misconduct). The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Credit Documents in accordance with a request of the Requisite Majority Lenders (or all Lenders, if applicable) absent gross negligence and willful misconduct on the part of the Agent in the method in which it acts or refrains from acting in accordance therewith, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Credit Parties), independent accountants and other experts selected by Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Credit Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all or other requisite Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Credit Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans and all other Secured Parties.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person person or Persons persons, and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower)counsel, independent accountants accountants, financial advisors and other experts selected by the Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of all of the Requisite Lenders as it deems appropriate or and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request or consent of the Requisite Lenders, Assignors and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders. Notwithstanding anything in this Agreement to the contrary, the Agent shall not have any liability to any Lender for any acts or omissions in connection with the matters contemplated by this Agreement other than for acts or omissions affirmatively taken in bad faith.
Appears in 1 contract
Samples: Term Loan and Guarantee Agreement (Marvel Entertainment Group Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), the Accountants and independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders or all Lenders, as it deems appropriate appropriate, or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense (except those incurred solely as a result of the Agent's gross negligence or willful misconduct) which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite Majority Lenders or all Lenders, as may be required, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, opinion, letter, cablegram, telegram, telecopyfacsimile, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Debtor and the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat each Lender, or the payee of any promissory note issued pursuant to this Agreement Person designated in the last notice filed with the Agent under Section 11.7, as the owner thereof for holder of all purposes unless of the interests of such promissory note Lender in its Loans and in its Note until written notice of transfer, signed by such Lender (or the Person designated in the last notice filed with the Agent) and by the Person designated in such written notice of transfer, in form and substance satisfactory to the Agent, shall have been transferred filed with the Agent. The Agent shall not be under any duty to examine or pass upon the validity, effectiveness or genuineness of the Loan Documents or any instrument, document or communication furnished pursuant thereto or in accordance with Section 11.10 hereofconnection therewith, and the Agent shall be entitled to assume that the same are valid, effective and genuine, have been signed or sent by the proper parties and are what they purport to be. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders.ap-
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificatecertification, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower), independent accountants and other experts selected by Agent. As to Lender, Agent shall take any and all direction with regard to administration of the Loan Documents from Lenders holding such portion of the Loan as may deem and treat be agreed by Lenders separately in writing. Notwithstanding anything to the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. contrary set forth herein: (1) Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate Lender or it shall first be indemnified to its satisfaction by Lenders ratably in accordance with its percentage share of the loan against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action (except for its own liabilities and expenses resulting from Agent’s gross negligence or willful misconduct. ), (2) Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Loan Documents in accordance with a request of the Requisite LendersLender, and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLender.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note or any loan account in the Register as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders Majority Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite LendersMajority Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the amounts owing hereunder.
Appears in 1 contract
Samples: Revolving Credit and Competitive Advance Facilities Agreement (Reliant Energy Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Company, Grace New York or any other Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders Majority Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite LendersMajority Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrowers), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Transaction Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Holders (or, when expressly required hereby, all the Holders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Holders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Transaction Documents in accordance with a request of the Requisite LendersRequired Holders (or, when expressly required hereby, all the Holders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Holders and all future Holders.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, opinion, letter, cablegram, telegram, telecopyfacsimile, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat each Lender, or the payee of any promissory note issued pursuant to this Agreement Person designated in the last notice filed with the Agent under Section 11.7, as the owner thereof for holder of all purposes unless of the interests of such promissory note Lender in its Loans and in its Note until written notice of transfer, signed by such Lender (or the Person designated in the last notice filed with the Agent) and by the Person designated in such written notice of transfer, in form and substance satisfactory to the Agent, shall have been transferred filed with the Agent. The Agent shall not be under any duty to examine or pass upon the validity, effectiveness or genuineness of the Loan Documents or any instrument, document or communication furnished pursuant thereto or in accordance with Section 11.10 hereofconnection therewith, and the Agent shall be entitled to assume that the same are valid, effective and genuine, have been signed or sent by the proper parties and are what they purport to be. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductappropriate. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrowers or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION
13.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Loan and Security Agreement (Kellstrom Industries Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor or any Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement each Lender as the owner thereof of its pro rata share of the Loans for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Subject to the Operative Documents, the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of an interest in the Note.
Appears in 1 contract
Samples: Loan Agreement (Allete Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerany Borrower or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION 15.
1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Loan and Security Agreement (Supreme International Corp)
Reliance by Agent. The Agent shall be entitled to rely, and shall ----------------- be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any Subsidiary), independent accountants and other experts selected by the Agent. Agent The agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems they deem appropriate or it they shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes and the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Credit Document unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Credit Documents in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Notes. Without limiting the generality of the foregoing, no Lender shall have any right of action whatsoever against the Agent as a result of the Agent acting or refraining from acting hereunder or under any Credit Documents in accordance with the instructions of the Lenders.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Hooper Holmes Inc)
Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any Subsidiary), independent accountants and other experts selected by the Agent. Agent The agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Banks as it deems they deem appropriate or it they shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Agreement, the Notes and the other Loan Documents in accordance with a request of the Requisite LendersRequired Banks, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Banks and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall in all cases be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, facsimile, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. The Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents document furnished in connection herewith unless it shall first receive such advice or concurrence of Windmill, the Requisite Lenders Program LOC Provider, any Bank, the Required Banks or all of the Lenders, as applicable, as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Program LOC Provider and the Banks against any and all liability liability, cost and expense which may be incurred by it by reason of taking or continuing to take any such action except for (excluding any such liability, cost or expense which shall have been incurred by the Agent as a result of its own gross negligence or willful misconductmisconduct in the taking of any such action). The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of Windmill, any Bank, the Requisite Program LOC Provider, the Required Banks or all of the Lenders, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 1 contract
Samples: Receivables Loan Agreement (Borg Warner Automotive Inc)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation writing believed by it to be genuine and correct and to have been signed, sent or made by the proper Person person or Persons persons, and upon the advice and statements of legal counsel (including, without without, limitation, counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of the taking or continuing failing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Loan Documents in accordance with a any written request of the Requisite Required Lenders, and each such request of the Required Lenders, and any action taken or failure to act by Agent pursuant thereto thereto, shall be binding upon all of Lenders; provided, however, that Agent shall not be required in any event to act, or to refrain from acting, in any manner which is contrary to the Loan Documents or to applicable law.
Appears in 1 contract
Samples: Construction Loan Agreement (CNL Growth Properties, Inc.)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, 55. cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to BorrowerBorrowers), independent accountants and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Requisite Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lenders.
Appears in 1 contract
Samples: Warehousing Credit Agreement (PLM Equipment Growth Fund Iii)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerany Borrower or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION
12.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to either Parent or the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex telex, or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent sent, or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to BorrowerBorrower or counsel to any Lender), independent accountants accountants, and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders or all Lenders, as applicable, and until such instructions are received, Agent shall act, or refrain from acting, as it deems appropriate advisable so long as it is not grossly negligent or guilty of wilful misconduct. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Provided Agent acts in good faith, Agent shall in all cases be fully protected in acting, or in refraining from acting, except for acts of willful misconduct or gross negligence by Agent, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Required Lenders or all Lenders, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders.
Appears in 1 contract
Reliance by Agent. Each Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteinstrument, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation reasonably believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrowers), independent accountants and other experts selected by such Agent. The Administrative Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Administrative Agent. Each Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent The Agents shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 1 contract
Samples: Secured Revolving Credit Agreement (Monster Worldwide Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrowers), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes purposes, unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this the Credit Agreement and or any of the other Loan Security Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Credit Agreement, the Security Documents and the Notes in accordance with a request of the Requisite LendersBanks, and such request and any action taken or failure to act pursuant thereto shall be binding upon the Banks and all Lendersfuture holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Loans as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, if so specified by this Agreement, all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex telex, facsimile or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrower), independent accountants and other experts selected by Agent. Agent may deem and treat the payee registered owner of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofAgent. Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document, unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or and, if it so requests, it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement Loan Agreement, the Notes and any other Operative Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all LendersLenders and all future holders of the Notes and Borrower.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, statements of counsel to Borrowerthe Borrowers), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Transaction Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Required Holders (or, when expressly required hereby, all the Holders) as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Holders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Transaction Documents in accordance with a request of the Requisite LendersRequired Holders (or, when expressly required hereby, all the Holders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Holders and all future Holders.
Appears in 1 contract
Samples: Financing Agreement (Jamba, Inc.)
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, and shall not incur any liability for relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopytelefacsimile or other electronic method of transmission, telex or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent sent, or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to BorrowerBorrower or counsel to any Lender), independent accountants and other experts selected by Agent. The Agent also may deem rely upon any statement made to it orally or by telephone and treat the payee of any promissory note issued pursuant believed by it to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereofmade by the proper Person, and shall not incur any liability for relying thereon. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it Agent shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate and until such instructions are received, Agent shall act, or refrain from acting, as it deems advisable. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by the Lenders against any and all liability and expense which that may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Lenders, Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Pernix Therapeutics Holdings, Inc.)
Reliance by Agent. The Agent shall in all cases be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, facsimile, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to the Borrower), independent accountants and other experts selected by the Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. The Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents document furnished in connection herewith unless it shall first receive such advice or concurrence of Windmill, any Bank, the Requisite Lenders Required Banks or all of the Lenders, as applicable, as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability liability, cost and expense which may be incurred by it by reason of taking or continuing to take any such action except for (excluding any such liability, cost or expense which shall have been incurred by the Agent as a result of its own gross negligence or willful misconductmisconduct in the taking of any such action). The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of Windmill, any Bank, the Requisite Required Banks or all of the Lenders, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, including counsel to Borrowerthe Borrowers or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereofSECTION
13.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation writing believed by it to be genuine and correct and to have been signed, sent or made by the proper Person person or Persons persons, and upon the advice and statements of legal counsel (including, without without, limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. The Agent shall be fully justified to Borrower, Guarantors or Lenders in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of the taking or continuing failing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected from Borrower, Guarantors and Lenders in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a any written request of the Requisite Lenders, and each such request of the Lenders, and any action taken or failure to act by the Agent pursuant thereto thereto, shall be binding upon all of the Lenders; provided, however, that the Agent shall not be required in any event to act, or to refrain from acting, in any manner which is contrary to the Loan Documents or to applicable law.
Appears in 1 contract
Samples: Revolving Credit Agreement (TNP Strategic Retail Trust, Inc.)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, opinion, letter, cablegram, telegram, telecopyfax, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerany Credit Party), independent accountants and other experts selected by the Agent. The Agent may deem and treat each Lender, or the payee of any promissory note issued pursuant to Person designated in the last notice filed with it under this Agreement Section, as the owner thereof for holder of all purposes unless of the interests of such promissory note Lender in its Loans and in its Note until written notice of transfer, signed by such Lender (or the Person designated in the last notice filed with the Agent) and by the Person designated in such written notice of transfer, in form and substance satisfactory to the Agent, shall have been transferred filed with the Agent. The Agent shall not be under any duty to examine or pass upon the validity, effectiveness, enforceability, perfection or genuineness of the Loan Documents or any instrument, document or communication furnished pursuant thereto or in accordance with Section 11.10 hereofconnection therewith, and the Agent shall be entitled to assume that the same are valid, effective and genuine, have been signed or sent by the proper parties and are what they purport to be. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite requisite Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductappropriate. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement the Loan Documents in accordance with a request or direction of the Requisite Required Lenders, and such request or direction and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Bet Holdings Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Revolving Credit Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Revolving Credit Loans.
Appears in 1 contract
Samples: Credit Agreement (Adams Outdoor Advertising LTD Partnership)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note the Agent shall have been transferred in accordance with Section 11.10 hereofactual notice of any transferee. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders (or, when expressly required hereby, all the Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders (or, when expressly required hereby, all the Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future Lenders.
Appears in 1 contract
Samples: Credit Agreement (DelStaff, LLC)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrowers or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereof13.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Loan and Security Agreement (American Aircarriers Support Inc)
Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Borrower or any of its Subsidiaries), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereoftransferred
14.1. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Samples: Loan and Security Agreement (Supreme International Corp)
Reliance by Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note Note shall have been transferred in accordance with Section 11.10 hereof13.1. The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it and shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
Appears in 1 contract
Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopyfacsimile, telex telex, or teletype telephone message, statement, order statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent sent, or made by the proper Person or Persons Persons, and upon advice and statements of legal counsel (including, without limitation, including counsel to BorrowerBorrower or counsel to any Lender), independent accountants accountants, and other experts selected by Agent. Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred in accordance with Section 11.10 hereof. Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders or all Lenders, as applicable, and until such instructions are received, Agent shall act, or refrain from acting, as it deems appropriate advisable so long as it is not grossly negligent or guilty of wilful misconduct. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by Lenders (based on their Pro Rata Shares) against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Required Lenders or all Lenders, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders.
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Reliance by Agent. The Agent shall be entitled to rely, and ----------------- shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Revolving Credit Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Revolving Credit Loans.
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Reliance by Agent. The Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Lessor, the Guarantor or the Lessee), independent accountants and other experts selected by the Agent. The Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Agent. The Agent shall be fully justified in failing or refusing to take any action under this Loan Agreement and the or any other Loan Documents Operative Document unless it shall first receive such advice or concurrence of the Requisite Lenders Required Funding Parties as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Funding Parties against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. Subject to the Operative Documents, the Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Loan Agreement and the other Operative Documents in accordance with a request of the Requisite LendersRequired Funding Parties, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Notes.
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Samples: Master Agreement (Aaron Rents Inc)
Reliance by Agent. The Paying Agent shall be entitled to rely, and shall be fully protected in relying, upon any note, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Newco or the Borrower), independent accountants and other experts selected by the Paying Agent. The Paying Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement the Bridge Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Paying Agent. The Paying Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Paying Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite Majority Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Lenders and all future holders of the Loans.
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Reliance by Agent. The Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any noteNote, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to Borrowerthe Company), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent may deem and treat the payee of any promissory note issued pursuant to this Agreement Note as the owner thereof for all purposes unless such promissory note a written notice of assignment, negotiation or transfer thereof shall have been transferred in accordance filed with Section 11.10 hereofthe Administrative Agent. [[DMS:6095583v3:05/23/2023--01:55 PM]] The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement and the other Loan Documents unless it shall first receive such advice or concurrence of the Requisite Lenders Banks as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconductaction. The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Notes in accordance with a request of the Requisite LendersBanks, and such request and any action taken or failure to act pursuant thereto shall be binding upon the Banks and all Lendersfuture holders of the Notes.
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Samples: Credit Agreement (Lazard Group LLC)
Reliance by Agent. The Agent shall be entitled to relyrely upon, and shall be fully protected in relyingnot incur any liability for relying upon, upon any notenotice, writingrequest, resolution, noticecertificate, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order instrument, document or other document or conversation writing believed by it to be genuine and correct and to have been signed, signed or sent by the proper person. The Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person or Persons person, and upon advice and statements of shall not incur any liability for relying thereon. The Agent may consult with legal counsel (including, without limitation, who may be counsel to Borrowerfor the Company), independent accountants and other experts selected by Agent. Agent may deem it, and treat the payee of shall not be liable for any promissory note issued pursuant to this Agreement as the owner thereof for all purposes unless such promissory note shall have been transferred action taken or not taken by it in accordance with Section 11.10 hereofthe advice of any such counsel, accountants or experts. The Agent shall be fully justified in failing or refusing to take any action under this Agreement and the or any other Loan Documents Document unless it shall first receive such advice or concurrence of the Requisite Lenders Purchasers as it deems appropriate or it shall first be indemnified to its satisfaction by Lenders the Purchasers against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action except for its own gross negligence or willful misconduct(it being understood that this provision shall not release the Agent from performing any action with respect to the Company expressly required to be performed by it pursuant to the terms hereof) under this Agreement. The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Requisite LendersPurchasers, and such request and any action taken or failure to act pursuant thereto shall be binding upon all Lendersthe Purchasers and all future holders of the Notes.
Appears in 1 contract
Samples: Subordinated Secured Notes Purchase Agreement (Sheldahl Inc)