Common use of Reliance on Oral Instructions Clause in Contracts

Reliance on Oral Instructions. The Agent and each Lender shall each be entitled to act upon the oral instructions of any Person who the Agent or the applicable Lender, acting reasonably, believes is a Person authorized by the relevant Borrower to act on such Borrower's behalf. The Agent and any applicable Lender shall not be responsible for any error or omission in those instructions or in the performance thereof except in the case of gross negligence or wilful misconduct by the Agent, any applicable Lender or their respective agents. Any instructions so given shall be confirmed in writing by the relevant Borrower to the Agent or the applicable Lender on the same day. The relevant Borrower shall indemnify the Agent and any applicable Lender for any loss or expense suffered or incurred by the Agent or any applicable Lender as a consequence of the Agent or the applicable Lender acting upon instructions given or agreements made over the telephone or by electronic transmission of any type with Persons reasonably believed by Agent or any applicable Lender to have been acting on such Borrower's behalf, except to the extent resulting from the gross negligence or wilful misconduct of the Agent or any applicable Lender or their respective agents.

Reliance on Oral Instructions. The Administrative Agent and each any Lender shall each be entitled to act upon the oral instructions of any Person who the Administrative Agent or the applicable Lender, acting reasonably, believes is a Person authorized by the relevant Borrower to act on such the Borrower's ’s behalf. The Neither the Administrative Agent and nor any applicable Lender shall not be responsible for any error or omission in those instructions or in the performance thereof except in the case of gross negligence or wilful misconduct by the Administrative Agent, any applicable the Lender or their respective agentsemployees. Any instructions so given shall be confirmed in writing by the relevant Borrower to the Administrative Agent or the applicable Lender Lender, as applicable, on the same day. The relevant Borrower shall indemnify the Administrative Agent and any applicable each Lender for any loss or expense suffered or incurred by the Administrative Agent or any applicable Lender as a consequence of the Administrative Agent or the applicable Lender acting upon instructions given or agreements made over the telephone or by electronic transmission of any type with Persons reasonably believed by the Administrative Agent or any applicable Lender to have been acting on such the Borrower's ’s behalf, except to the extent resulting from the gross negligence or wilful misconduct of the Agent or any applicable Lender or their respective agents.