Common use of Reliance on Lead Lender Clause in Contracts

Reliance on Lead Lender. Neither Lead Lender nor any of its directors, officers, shareholders, members, managers, agents or employees shall be liable for any action taken or omitted to be taken by it or them under or in connection with this Participation Agreement, the Note or the other Loan Documents; provided, however, that Lead Lender shall be liable to Participant for failure to administer the Loan with the same care as it would exercise if it were administering the Loan for its own account in the absence of participants. Without limiting the generality of the foregoing, Lead Lender: (a) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in accordance with the advice of such counsel, accountants or experts; and (b) shall incur no liability under or in respect of this Participation Agreement, the Note or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it to be genuine and signed or sent by the proper party or parties.