Common use of Responsibility of Issuing Bank Clause in Contracts

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 shall be deemed to prejudice the right of any Revolving Lender to recover from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 in the event that it is determined by a court of competent jurisdiction that a payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and ------------------------------ agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, -------- however, that nothing set forth in this Section 2.16 shall be deemed to ------- prejudice the right of any Revolving Lender to recover from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 in the event that it is determined by a court of competent jurisdiction that a payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 3.2 have ----------- been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 ------- 2.2 shall be deemed to prejudice the right of any Revolving Lender to recover from the --- Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 2.2 in the event that it is determined by a court of ----------- competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 3.2 have ----------- been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the applicable Borrower that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 2.2 shall be deemed to prejudice the right of any Revolving Lender to recover ----------- from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 2.2 in the event that it is determined by a court ----------- of competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 ARTICLE III OR V have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; providedPROVIDED, howeverHOWEVER, that nothing set forth in this Section 2.16 ARTICLE III shall be deemed to prejudice the right of any Revolving LC Lender to recover from the Issuing Bank any amounts made available by such Revolving LC Lender to the Issuing Bank pursuant to this Section 2.16 ARTICLE III in the event that it is determined by a court of competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 Sections 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower or the Administrative Agent that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 2.2 shall be deemed to prejudice the right of any Revolving Lender to recover from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 2.2 in the event that it is determined by a court of competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the applicable Borrower that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 2.2 shall be deemed to prejudice the right of any Revolving Lender to recover from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 2.2 in the event that it is determined by a court of competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in Section 4.2 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower or the Administrative Agent that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.16 2.2 shall be deemed to prejudice the right of any Revolving Lender to recover from the Issuing Bank any amounts made available by such Revolving Lender to the Issuing Bank pursuant to this Section 2.16 2.2 in the event that it is determined by a court of competent jurisdiction that a the payment by the Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.