Common use of Responsibility of Issuing Lender Clause in Contracts

Responsibility of Issuing Lender. It is expressly understood and agreed that the obligations of the Issuing Lender hereunder to the U.S. Lenders and the Multicurrency Lenders are only those expressly set forth in this Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in subsection 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 subsection 2.16 shall be deemed to prejudice the right of any U.S. Lender or Multicurrency Lender to recover from the Issuing Lender any amounts made available by such Lender to the Issuing Lender pursuant to this subsection 2.16 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 Lender.

Responsibility of Issuing Lender. It is expressly understood and agreed that the obligations of the Issuing Lender hereunder to the U.S. Lenders and the Multicurrency Lenders are only those expressly set forth in this Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in subsection Section 4.2 have been satisfied unless it shall have acquired actual knowledge been notified by the Borrowers or a Lender (other than the Issuing Lender in its capacity as the Agent or a Lender) that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this subsection 2.16 Section 2.6 shall be deemed to prejudice the right of any U.S. Lender or Multicurrency Lender to recover from the Issuing Lender any amounts made available by such Lender to the Issuing Lender pursuant to this subsection 2.16 Section 2.6 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 Lender.

Responsibility of Issuing Lender. It is expressly understood and agreed as between the Lenders that the obligations of the relevant Issuing Lender hereunder to in respect of the U.S. Lenders and the Multicurrency Lenders issuance or payment of any Letter of Credit are only those expressly set forth in this Agreement and that the such Issuing Lender shall be entitled to assume that the conditions precedent set forth in subsection 4.2 Article 4 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 subsection 2.16 Section 2.11 shall be deemed to prejudice the right of any U.S. Lender or Multicurrency Lender to recover from the such Issuing Lender any amounts made available by such Lender for distribution to the such Issuing Lender pursuant to this subsection 2.16 Section 2.11 in the event that it is finally 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 such Issuing Lender.

Responsibility of Issuing Lender. It is expressly understood and agreed that the obligations of the Issuing Lender hereunder to the U.S. Lenders and the Multicurrency Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in subsection 4.2 Section 5.03 have been satisfied unless it shall have acquired actual knowledge or received written notice from the Borrower, the Administrative Agent or any Lender that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this subsection 2.16 Section 2.04 shall be deemed to prejudice the right of any U.S. Lender or Multicurrency Lender to recover from the Issuing Lender any amounts made available by such Lender to the Issuing Lender pursuant to this subsection 2.16 Section 2.04 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 Lender.