Common use of Reliance by the Agents Clause in Contracts

Reliance by the Agents. Each Agent shall be entitled to rely upon, and shall be fully protected in relying upon, any note, writing, resolution, notice, statement, certificate, telex, teletype or facsimile message, cablegram, radiogram, order or other document or telephone message signed, sent or made by any Person that such Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and any other Loan Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative Agent. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 4 contracts

Samples: Abl Credit Agreement (United States Steel Corp), Abl Credit Agreement (United States Steel Corp), Abl Credit Agreement (United States Steel Corp)

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Reliance by the Agents. Each Agent shall be entitled to rely upon, and shall be fully protected in relying upon, any note, writing, resolution, notice, statement, certificate, telex, teletype or facsimile message, cablegram, radiogram, order or other document or telephone message signed, sent or made by any Person that such Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and any other Loan Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative such Agent. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 2 contracts

Samples: Credit Agreement (Superior Industries International Inc), Credit Agreement (Superior Industries International Inc)

Reliance by the Agents. Each Agent shall be entitled to rely upon, and shall be fully protected in not incur any liability for relying upon, any notenotice, writingrequest, resolutioncertificate, noticeconsent, statement, certificateinstrument, telex, teletype document or facsimile other writing (including any electronic message, cablegram, radiogram, order internet or intranet website posting or other document or telephone message distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by any Person that such Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and shall not incur any other Loan Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative Agentliability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that an Advance, which by its terms must be fulfilled to the satisfaction of a Lender, the Administrative such Agent may presume that such condition is satisfactory to such Lender unless the Administrative such Agent shall have received notice to the contrary from such Lender prior to the making of such LoanAdvance. The Administrative Agent Agents may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Master Credit Agreement (Belrose Capital Fund LLC)

Reliance by the Agents. Each Agent The Agents shall be entitled to rely upon, and shall be fully protected in not incur any liability for relying upon, any notenotice, writingrequest, resolutioncertificate, noticeconsent, statement, certificateinstrument, telex, teletype document or facsimile other writing (including any electronic message, cablegram, radiogram, order posting or other document or telephone message distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Agents also may rely upon any statement made to it orally or by telephone and believed by it to have been made by any Person that such Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and shall not incur any other Loan Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative Agentliability for relying thereon. In determining compliance with any condition hereunder to the making of a such Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent Agents may presume that such condition is satisfactory to such Lender unless the Administrative Agent Agents shall have received notice to the contrary from such Lender prior to the making of such Term Loan. The Administrative Agent Agents may consult with legal counsel (who may be counsel for the BorrowerCompany), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Transportation Technologies Industries Inc)

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Reliance by the Agents. Each Agent shall be entitled to rely upon, and shall be fully protected in not incur any liability for relying upon, any notenotice, writingrequest, resolutioncertificate, noticeconsent, statement, certificateinstrument, telex, teletype document or facsimile other writing (including any electronic message, cablegram, radiogram, order Internet or intranet website posting or other document or telephone message distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by any Person that such Agent believed to be the proper Person, and, with respect to all legal matters pertaining to this Agreement and shall not incur any other Loan Document and its duties hereunder and thereunder, upon advice of counsel selected by the Administrative Agentliability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan any Borrowing that by its terms must shall be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of any such LoanBorrowing. The Administrative Agent may consult with legal counsel (who may be counsel for the BorrowerBorrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.

Appears in 1 contract

Samples: Term Loan Agreement (Genesis Healthcare, Inc.)

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