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

Reliance by the Administrative Agent and the Purchasers. (a) The Administrative Agent and each Purchaser 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 the Seller Parties), independent accountants and other experts selected by the Administrative Agent or such Purchaser. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of each Purchaser (except where another provision of this Agreement specifically authorizes the Administrative Agent to take action based on the instructions of either Purchaser). (b) Any action taken by the Administrative Agent in accordance with Section 11.4(a) shall be binding upon all Purchasers.

Appears in 4 contracts

Samples: Receivables Purchase Agreement (RPM International Inc/De/), Receivables Purchase Agreement (RPM International Inc/De/), Receivables Purchase Agreement (RPM International Inc/De/)

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Reliance by the Administrative Agent and the Purchasers. (a) The Administrative Agent and each Purchaser 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 the Seller Parties), independent accountants and other experts selected by the Administrative Agent or such Purchaser. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of each Purchaser (except where another provision of this Agreement specifically authorizes the Administrative Agent to take action based on the instructions of either Purchaser). (b) Any action taken by the Administrative Agent in accordance with Section 11.4(a9.4(a) shall be binding upon all Purchasers.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Borgwarner Inc), Receivables Purchase Agreement (Commercial Metals Co)

Reliance by the Administrative Agent and the Purchasers. (a) The Each of the Administrative Agent and each Purchaser the Purchasers 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 the Seller Parties), independent accountants and other experts selected by the Administrative Agent or such Purchaser. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of each Purchaser all of the Purchasers (except where another provision of this Agreement specifically authorizes the Administrative Agent to take action based on the instructions of either Purchaserthe Required Purchasers). (b) Any action taken by the Administrative Agent in accordance with Section 11.4(a9.4(a) shall be binding upon all of the Purchasers.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Pool Corp), Omnibus Amendment (Pool Corp)

Reliance by the Administrative Agent and the Purchasers. (a) The a. Each of the Administrative Agent and each Purchaser the Purchasers 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 the Seller Parties), independent accountants and other experts selected by the Administrative Agent or such Purchaser. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of each Purchaser all of the Purchasers (except where another provision of this Agreement specifically authorizes the Administrative Agent to take action based on the instructions of either Purchaserthe Required Purchasers). (b) b. Any action taken by the Administrative Agent in accordance with Section 11.4(a9.4(a) shall be binding upon all of the Purchasers.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Pool Corp)

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Reliance by the Administrative Agent and the Purchasers. (a) The Each of the Administrative Agent and each Purchaser the Purchasers 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, 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 the Seller Parties), independent accountants and other experts selected by the Administrative Agent or such Purchaser. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of each Purchaser (except where another provision all of this Agreement specifically authorizes the Administrative Agent to take action based on the instructions of either Purchaser)Purchasers. (b) Any action taken by the Administrative Agent in accordance with Section 11.4(a9.4(a) shall be binding upon all Purchasers.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Kapstone Paper & Packaging Corp)

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