Common use of Reliance on Security Trustee or Agent Clause in Contracts

Reliance on Security Trustee or Agent. Each Creditor Party agrees that it has, independently and without reliance on the Security Trustee, the Agent or any other Creditor Party, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Security Trustee, the Agent or any other Creditor Party, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the Finance Documents. None of the Security Trustee or the Agent shall be required to keep itself informed as to the performance or observance by the Borrower or the Guarantors of this Agreement or any of the Finance Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Guarantor. Except for notices, reports and other documents and information expressly required to be furnished to the Creditor Parties by the Security Trustee or the Agent hereunder, neither the Security Trustee nor the Agent shall have any duty or responsibility to provide a Creditor Party with any credit or other information concerning the affairs, financial condition or business of the Borrower, any Guarantor or any subsidiaries or affiliates thereof which may come into the possession of the Security Trustee, the Agent or any of their respective affiliates.

Reliance on Security Trustee or Agent. Each Creditor Party Lender agrees that it has, independently and without reliance on the Security Trustee, the Agent or any other Creditor PartyLender, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Borrowers and decision to enter into this Agreement and that it will, independently and without reliance upon the Security Trustee, the Agent or any other Creditor PartyLender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the Finance Documents. None of the Security Trustee or the Agent shall be required to keep itself informed as to the performance or observance by the Borrower Borrowers or the Guarantors Guarantor of this Agreement or any of the Finance Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the any Borrower or any the Guarantor. Except for notices, reports and other documents and information expressly required to be furnished to the Creditor Parties Lenders by the Security Trustee Trustee, K-Sure Agent or the Agent hereunder, neither none of the Security Trustee nor Trustee, K-Sure Agent or the Agent shall have any duty or responsibility to provide a Creditor Party Lender with any credit or other information concerning the affairs, financial condition or business of the any Borrower, any the Guarantor or any subsidiaries or affiliates thereof which may come into the possession of the Security Trustee, K-Sure Agent the Agent or any of their respective affiliates.

Reliance on Security Trustee or Agent. Each Creditor Party Lender agrees that it has, independently and without reliance on the Security Trustee, the Agent or any other Creditor PartyLender, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Borrowers and decision to enter into this Agreement and that it will, independently and without reliance upon the Security Trustee, the Agent or any other Creditor PartyLender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the Finance Documents. None of the Security Trustee or the Agent shall be required to keep itself informed as to the performance or observance by the Borrower Borrowers or the Guarantors Guarantor of this Agreement or any of the Finance Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the any Borrower or any the Guarantor. Except for notices, reports and other documents and information expressly required to be furnished to the Creditor Parties Lenders by the Security Trustee or the Agent hereunder, neither the Security Trustee nor the Agent shall have any duty or responsibility to provide a Creditor Party Lender with any credit or other information concerning the affairs, financial condition or business of the any Borrower, any the Guarantor or any subsidiaries or affiliates thereof which may come into the possession of the Security Trustee, the Agent or any of their respective affiliates.

Reliance on Security Trustee or Agent. Each Creditor Party Lender and each Swap Bank agrees that it has, independently and without reliance on the Security Trustee, the Agent or any other Creditor PartyLender or Swap Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Security Trustee, the Agent or any other Creditor PartyLender or Swap Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the Finance Documents. None of the Security Trustee or the Agent shall be required to keep itself informed as to the performance or observance by the Borrower or the Guarantors of this Agreement or any of the Finance Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any Guarantor. Except for notices, reports and other documents and information expressly required to be furnished to the Creditor Parties Lenders and/or the Swap Banks by the Security Trustee or the Agent hereunder, neither the Security Trustee nor the Agent shall have any duty or responsibility to provide a Creditor Party Lender or a Swap Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower, any Guarantor or any subsidiaries or affiliates thereof which may come into the possession of the Security Trustee, the Agent or any of their respective affiliates.. 103