Reliance Upon Authority; No Liability. The Administrative Agent is entitled to rely conclusively on any individual’s request for Revolving Loans on behalf of a Borrower, as long as the proceeds thereof are to be transferred to the Funding Account or according to such other instructions as may be provided to the Administrative Agent pursuant to Section 2.2(c)(i)(E). The Administrative Agent has no duty to verify the identity of any individual representing himself or herself as a person authorized by any Borrower to make such requests on its behalf. The Administrative Agent shall not incur any liability to the Borrowers as a result of acting upon any notice referred to in Section 2.2(c) or Section 2.2(d) which the Administrative Agent reasonably believes to have been given by an officer or other person duly authorized by a Borrower to request Revolving Loans on its behalf or for otherwise acting under this Section 2.2. The crediting of Revolving Loans to the Funding Account or wire transfer to such Person as a Borrower shall direct shall conclusively establish the obligation of the Borrowers to repay such Revolving Loans as provided herein.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ahern Rentals Inc), Loan and Security Agreement (Ahern Rentals Inc)
Reliance Upon Authority; No Liability. The Administrative Agent is entitled to rely conclusively on any individual’s 's request for Revolving Loans on behalf of a Borrower, as so long as the proceeds thereof are to be transferred to the Funding Designated Account or according to such other instructions as may be provided to the Administrative Agent pursuant to Section 2.2(c)(i)(E1.2(c)(i)(E). The Administrative Agent has shall have no duty to verify the identity of any individual representing himself or herself as a person authorized by any Borrower to make such requests on its behalf. The Administrative Agent shall not incur any liability to the Borrowers as a result of acting upon any notice referred to in Section 2.2(c1.2(c) or and Section 2.2(d) 1.2(d), which the Administrative Agent reasonably believes to have been given by an officer or other person duly authorized by a Borrower to request Revolving Loans on its behalf or for otherwise acting under this Section 2.21.2. The crediting of Revolving Loans to the Funding Account Designated Account, or wire transfer to such Person as a Borrower shall direct direct, shall conclusively establish the obligation of the Borrowers to repay such Revolving Loans as provided herein.
Appears in 1 contract
Samples: Credit Agreement (Txi Cement Co)
Reliance Upon Authority; No Liability. The Administrative Agent is entitled to rely conclusively on any individual’s 's request for Revolving Loans on behalf of a Borrower, as so long as the proceeds thereof are to be transferred to the Funding Designated Account or according to such other instructions as may be provided to the Administrative Agent pursuant to Section 2.2(c)(i)(E1.2(c)(i)(E). The Administrative Agent has shall have no duty to verify the identity of any individual representing himself or herself as a person authorized by any Borrower to make such requests on its behalf. The Administrative Agent shall not incur any liability to the Borrowers as a result of acting upon any notice referred to in Section 2.2(c1.2(c) or and Section 2.2(d) 1.2(d), which the Administrative Agent reasonably believes to have been given by an officer or other person duly authorized by a Borrower to request Revolving Loans on its behalf or for otherwise acting under this Section 2.21.2. The crediting of Revolving Loans to the Funding Account Designated Account, or wire transfer to such Person as a Borrower shall direct direct, shall conclusively establish the obligation of the Borrowers to repay such Revolving Loans as provided herein.
Appears in 1 contract
Samples: Credit Agreement (Daisytek International Corporation /De/)
Reliance Upon Authority; No Liability. The Administrative Agent is entitled to rely conclusively on any individual’s 's request for Revolving Loans on behalf of a the Borrower, as so long as the proceeds thereof are to be transferred to the Funding Designated Account or according to such other instructions as may be provided to the Administrative Agent pursuant to Section 2.2(c)(i)(E1.2(c)(i)(E). The Administrative Agent has shall have no duty to verify the identity of any individual representing himself or herself as a person authorized by any the Borrower to make such requests on its behalf. The Administrative Agent shall not incur any liability to the Borrowers Borrower as a result of acting upon any notice referred to in Section 2.2(c1.2(c) or and Section 2.2(d) 1.2(d), which the Administrative Agent reasonably believes to have been given by an officer or other person duly authorized by a the Borrower to request Revolving Loans on its behalf or for otherwise acting under this Section 2.21.2. The crediting of Revolving Loans to the Funding Account Designated Account, or wire transfer to such Person as a the Borrower shall direct direct, shall conclusively establish the obligation of the Borrowers Borrower to repay such Revolving Loans as provided herein.
Appears in 1 contract
Samples: Credit Agreement (Texas Petrochemical Holdings Inc)