Common use of Responsibility of Issuing Bank Clause in Contracts

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of Issuing Bank to the Lenders are only those expressly set forth in this Agreement and that Issuing Bank shall be entitled to assume with respect to any Revolving Loans requested or deemed to be requested hereunder that the conditions precedent to borrowings set forth in Section 4.3 have been satisfied; provided, however, that nothing set forth in this Section 2.5 shall be deemed to prejudice the right of any Lender to recover from Issuing Bank any amounts made available by such Lender to Issuing Bank pursuant to this Section 2.5 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the Lenders Banks are only those expressly set forth in this Agreement and that the Issuing Bank shall be entitled to assume with respect to any Revolving Loans requested or deemed to be requested hereunder that the conditions precedent to borrowings set forth in Section 4.3 5.2 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 2.5 shall be deemed to prejudice the right of any Lender Bank to recover from the Issuing Bank any amounts made available by such Lender Bank to the Issuing Bank pursuant to this Section 2.5 in the event that it is determined by a court of competent jurisdiction that the payment 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 Issuing Bank to the Lenders are only those expressly set forth in this Agreement and that Issuing Bank shall be entitled to assume with respect to any Revolving Revolver Loans requested or deemed to be requested hereunder that the conditions precedent to borrowings set forth in Section 4.3 have been satisfied; provided, however, that nothing set forth in this Section 2.5 shall be deemed to prejudice the right of any Lender to recover from Issuing Bank any amounts made available by such Lender to Issuing Bank pursuant to this Section 2.5 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of Issuing Bank.