Common use of Responsibility of the Agent and Other Matters Clause in Contracts

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the Loan Agreements; (ii) the collectability of any amounts owed by the Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; (iv) any failure of any party to this Agreement to receive any communication sent; or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part.

Appears in 7 contracts

Samples: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

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Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the Loan Agreements; (ii) the collectability collectibility of any amounts owed by the Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; (iv) any failure of any party to this Agreement to receive any communication sent; or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part.

Appears in 5 contracts

Samples: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (a) this Agreement, the Notes or the other Loan Agreements; Documents, or (b) any document or instrument furnished pursuant to or in connection with this Agreement, the Notes or the other Loan Documents, (ii) the collectability collectibility of any amounts owed by the Borrower; , (iii) any recitals or statements or representations or warranties in connection with this Agreement Agreement, the Notes or the Notes; other Loan Documents, (iv) any failure of any party to this Agreement to receive any communication sent; or , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entityPerson. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement Agreement, the Notes or the Notes other Loan Documents on the Borrower’s 's part.

Appears in 4 contracts

Samples: Credit Agreement (Dain Rauscher Corp), Credit Agreement (Dain Rauscher Corp), Credit Agreement (Interra Financial Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities in its capacity as Agent except those expressly set forth in this Agreement and the other Loan Documents and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable to any Bank or holder of the Loans or Notes for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the this Agreement or any other Loan Agreements; Document; (ii) the collectability collectibility of any amounts owed by the any Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; any other Loan Document; (iviii) any failure of any party to this Agreement to receive any communication sent; or or (viv) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerCompany and its Subsidiaries. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the any Borrower’s part.

Appears in 3 contracts

Samples: Credit Agreement (Graco Inc), Omnibus Amendment (Graco Inc), Credit Agreement (Graco Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith or willful misconductmisconduct as determined in a final, non-appealable judgment in a court of competent jurisdiction. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the Loan Agreements; (ii) the collectability of any amounts owed by the Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; (iv) any failure of any party to this Agreement to receive any communication sent; or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part. (d) The Banks are not partners or co-venturers, and no Bank shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the Agent) authorized to act for, any other Bank. The Agent shall have the exclusive right on behalf of the Banks to enforce the payment of the principal of and interest on the Loan after the date such principal or interest has become due and payable pursuant to the terms of this Agreement.

Appears in 2 contracts

Samples: Term Loan Agreement (Otter Tail Corp), Term Loan Agreement (Otter Tail Corp)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities in its capacity as Agent except those expressly set forth in this Agreement and the other Loan Documents and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable to any Bank or holder of the Loans or Notes for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the this Agreement or any other Loan Agreements; Document; (ii) the collectability of any amounts owed by the any Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; any other Loan Document; (iviii) any failure of any party to this Agreement to receive any communication sent; or or (viv) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerCompany and its Subsidiaries. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the any Borrower’s part.

Appears in 2 contracts

Samples: Credit Agreement (Graco Inc), Credit Agreement (Graco Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the i)the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the Loan Agreements; (ii) the ii)the collectability of any amounts owed by the Borrower; (iii) any iii)any recitals or statements or representations or warranties in connection with this Agreement or the Notes; (iv) any iv)any failure of any party to this Agreement to receive any communication sent; or (v) the v)the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the any Loan AgreementsDocument; (ii) the collectability collectibility of any amounts owed by the Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notesany Note; (iv) any failure of any party to this Agreement to receive any communication sent; or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes any Note on the Borrower’s part.

Appears in 1 contract

Samples: Term Loan Agreement (Otter Tail Corp)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities in its capacity as Agent except those expressly set forth in this Agreement and the other Loan Documents and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable to any Bank or holder of the Loans or Notes for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the this Agreement or any other Loan Agreements; Document; (ii) the collectability collectibility of any amounts owed by the any Borrower; ; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; any other Loan Document; (iv) any failure of any party to this Agreement to receive any communication sent; or or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerCompany and its Subsidiaries. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the any Borrower’s part.

Appears in 1 contract

Samples: Credit Agreement (Graco Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties duties, responsibilities or responsibilities liabilities except those expressly set forth in this Agreement the Loan Documents, and those duties duties, responsibilities and liabilities shall be subject to the limitations and qualifications set forth in this SectionArticle 7 or in an applicable Loan Document. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, the Loan Documents or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: examine into (ia) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (i) the Loan Agreements; Documents, or (ii) any document or instrument furnished pursuant to or in connection with the collectability Loan Documents, (b) the creation, perfection or priority of any of the Liens purported to be created by any of the Loan Documents, or the genuineness, enforceability, existence, value or sufficiency of any collateral security, (c) the collectibility of any amounts owed by the Borrower; Borrowers, (iiid) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; Loan Documents, (ive) any failure of any party to this Agreement the Loan Documents to receive any communication sent; , or (vf) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerBorrowers. Any such inquiry which may be made by the Agent shall not obligate it to make any further inquiry or to take any action. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement the Loan Documents on any Borrower's part. Any such inquiry which may be made by the Agent shall not obligate it to make any further inquiry or the Notes on the Borrower’s partto take any action.

Appears in 1 contract

Samples: Note Extension, Modification and Amendment Agreement (Qorus Com Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the Loan Agreements; (ii) the collectability collectibility of any amounts owed by the Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; (iv) any failure of any party to this Agreement to receive any communication sent; or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part.

Appears in 1 contract

Samples: Credit Agreement (Otter Tail Corp)

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Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, Agreement or any other instrument or document in connection herewith, including review and approval of any of the conditions precedent set forth in Section 7 hereof, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: inquire into (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the (a) this Agreement or any other Loan Agreements; Document, or (b) any document or instrument furnished pursuant to or in connection with this Agreement or any other Loan Document, (ii) the collectability collectibility of any amounts owed by the Borrower; , (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; any other Loan Document, (iv) any failure of any party to this Agreement to receive any communication sent; , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions provision or conditions of this Agreement or the Notes any other Loan Document on the Borrower’s 's part. The Agent shall, upon receipt of any written notice from the Borrower specifically advising the Agent that a Default has occurred and is continuing, notify each of the Lenders of the occurrence of such Default.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Government Technology Services Inc)

Responsibility of the Agent and Other Matters. (a) ai The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this SectionSection 13. The duties of the Agent shall be mechanical and administrative in nature. . (b) bi Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, Agreement or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: examine into (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (a) this Agreement, the Notes or the other Loan Agreements; Documents, or (b) any document or instrument furnished pursuant to or in connection with this Agreement, the Notes or the other Loan Documents, (ii) the collectability collectibility of any amounts owed by the Borrower; Company, (iii) any recitals or statements or representations or warranties in connection with this Agreement Agreement, the Notes or the Notes; other Loan Documents, (iv) any failure of any party to this Agreement to receive any communication sent; , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. Company and its Subsidiaries. (c) ci The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneysattorney-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance by the Company or any Subsidiary of any of the terms, provisions or conditions of this Agreement or the Notes on or the Borrower’s partother Loan Documents.

Appears in 1 contract

Samples: Revolving Credit Agreement (NPC International Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, Agreement or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: examine into, (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (A) this Agreement, the Revolving Notes or the Loan Agreements; Documents, or (B) any document or instrument furnished pursuant to or in connection with this Agreement, the Revolving Notes or the Loan Documents, (ii) the collectability collectibility of any amounts owed by the Borrower; Borrowers, (iii) any recitals or statements or representations or warranties in connection with this Agreement Agreement, the Revolving Notes or the Notes; Loan Documents, (iv) any failure of any party to this Agreement to receive any communication sent; , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerBorrowers. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement Agreement, the Revolving Notes or the Notes any other Loan Document on the Borrower’s Borrowers' part.

Appears in 1 contract

Samples: Revolving Credit Agreement (First Enterprise Financial Group Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (a) this Agreement, the Loan Notes, or Letter of Credit Agreements; , or (b) any document or instrument furnished pursuant to or in connection with this Agreement, the Notes or any Letter of Credit, (ii) the collectability collectibility of any amounts owed by the Borrower; , (iii) any recitals or statements or representations or warranties in connection with this Agreement Agreement, the Notes or the Notes; other Loan Documents, (iv) any failure of any party to this Agreement to receive any communication sent; or , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerBorrower or any Guarantor. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s 's part.

Appears in 1 contract

Samples: Credit Agreement (Merrill Corp)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, Agreement or any other instrument or document in connection herewith, including review and approval of any of the conditions precedent set forth in Section 7 hereof, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: inquire 32 into (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the (a) this Agreement or any other Loan Agreements; Document, or (b) any document or instrument furnished pursuant to or in connection with this Agreement or any other Loan Document, (ii) the collectability collectibility of any amounts owed by the Borrower; , (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; any other Loan Document, (iv) any failure of any party to this Agreement to receive any communication sent; , or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions provision or conditions of this Agreement or the Notes any other Loan Document on the Borrower’s 's part. The Agent shall, upon receipt of any written notice from the Borrower specifically advising the Agent that a Default has occurred and is continuing, notify each of the Lenders of the occurrence of such Default.

Appears in 1 contract

Samples: Business Credit and Security Agreement (Elek Tek Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s 's responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: : (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of (a) this Agreement, or the Loan Agreements; Notes, or (b) any document or instrument furnished pursuant to or in connection with this Agreement or the Notes; (ii) the collectability collectibility of any amounts owed by the Borrower; ; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notes; ; (iv) any failure of any party to this Agreement to receive any communication sent; or or (v) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the Borrower. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s 's part.

Appears in 1 contract

Samples: Credit Agreement (Pentair Inc)

Responsibility of the Agent and Other Matters. (a) The Agent shall have no duties or responsibilities in its capacity as Agent except those expressly set forth in this Agreement and the other Loan Documents and those duties and liabilities shall be subject to the limitations and qualifications set forth in this Section. The duties of the Agent shall be mechanical and administrative in nature. (b) Neither the Agent nor any of its directors, officers or employees shall be liable to any Bank or holder of the Loans or Notes for any action taken or omitted (whether or not such action taken or omitted is within or without the Agent’s responsibilities and duties expressly set forth in this Agreement) under or in connection with this Agreement, or any other instrument or document in connection herewith, except for gross negligence, bad faith negligence or willful misconduct. Without limiting the foregoing, neither the Agent nor any of its directors, officers or employees shall be responsible for, or have any duty to examine: (i) the genuineness, execution, validity, effectiveness, enforceability, value or sufficiency of the this Agreement or any other Loan AgreementsDocument; (ii) the collectability of any amounts owed by the any Borrower; (iii) any recitals or statements or representations or warranties in connection with this Agreement or the Notesany other Loan Document; (iviii) any failure of any party to this Agreement to receive any communication sent; or (viv) the assets, liabilities, financial condition, results of operations, business or creditworthiness of the BorrowerCompany and its Subsidiaries. (c) The Agent shall be entitled to act, and shall be fully protected in acting upon, any communication in whatever form believed by the Agent in good faith to be genuine and correct and to have been signed or sent or made by a proper person or persons or entity. The Agent may consult counsel and shall be entitled to act, and shall be fully protected in-in any action taken in good faith, in accordance with advice given by counsel. The Agent may employ agents and attorneys-in-fact and shall not be liable for the default or misconduct of any such agents or attorneys-in-fact selected by the Agent with reasonable care. The Agent shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, provisions or conditions of this Agreement or the Notes on the Borrower’s part.or

Appears in 1 contract

Samples: Credit Agreement (Graco Inc)

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