Common use of Representations and Warranties; No Responsibility for Appraisal of Creditworthiness Clause in Contracts

Representations and Warranties; No Responsibility for Appraisal of Creditworthiness. (i) Each Bank represents and warrants to Agent that it has made its own independent investigation of the financial condition and affairs of the Borrower, DGC, Affiliated Insurers and the Agency Subsidiaries in connection with the making of the Loan and has made and shall continue to make its own appraisal of the creditworthiness of the Borrower and its subsidiaries. Except as provided in this Agreement, the Agent shall not have any duty or responsibility either initially or on a continuing basis to make any such investigation or any such appraisal on behalf of the Banks or to provide any Bank with any credit or other information with respect thereto whether coming into its possession before the initial borrowing hereunder or any time or times thereafter and shall further have no responsibility with respect to the accuracy of or the completeness of the information provided to the Banks.

Appears in 3 contracts

Samples: Loan Agreement (Direct General Corp), Loan Agreement (Direct General Corp), Loan Agreement (Direct General Corp)

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Representations and Warranties; No Responsibility for Appraisal of Creditworthiness. (i) Each Bank represents and warrants to Agent that it has made its own independent investigation of the financial condition and affairs of the BorrowerDGC, DGCDGFS, Affiliated Insurers and the Agency Subsidiaries in connection with the making of the Loan and has made and shall continue to make its own appraisal of the creditworthiness of the Borrower DGC and its subsidiaries. Except as provided in this Agreement, the Agent shall not have any duty or responsibility either initially or on a continuing basis to make any such investigation or any such appraisal on behalf of the Banks or to provide any Bank with any credit or other information with respect thereto whether coming into its possession before the initial borrowing hereunder or any time or times thereafter and shall further have no responsibility with respect to the accuracy of or the completeness of the information provided to the Banks.

Appears in 1 contract

Samples: Loan Agreement (Direct General Corp)

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