Restriction on Liability. The users of each Letter of Credit shall be deemed the agents of Borrower and neither Issuing Bank, nor its correspondents shall be responsible for:
a. the use which may be made of any Letter of Credit or for any actions or omissions of the users of any Letter of Credit;
b. the existence or nonexistence of a default under any instrument secured or supported by any Letter of Credit or any other event which gives rise to a right to call upon any Letter of Credit;
c. the validity, sufficiency or genuineness of any document delivered in connection with any Letter of Credit, even if such document should in fact prove to be in any or all respects invalid, fraudulent or forged;
d. except as specifically required by a Letter of Credit, failure of any instrument to bear any reference or adequate reference to any Letter of Credit, or failure of documents to accompany any draft at negotiation, or failure of any person to note the amount of any draft on the reverse of any Letter of Credit or to surrender or take up any Letter of Credit; or
e. errors, omissions, interruptions or delays in transmission or delivery of any messages by mail, cable, telegraph, wireless, or otherwise. Issuing Bank shall not be responsible for any act, error, neglect or default, omission, insolvency or failure in the business of any of the correspondents of Issuing Bank, for any refusal by Issuing Bank or any of its correspondents to pay or honor drafts drawn under any Letter of Credit because of any applicable law, decree or edict, legal or illegal, of any governmental agency now or hereafter enforced, or for any matter beyond the control of Issuing Bank. The happening of any one or more of the contingencies referred to in the preceding clauses of this paragraph shall not affect, impair or prevent the vesting of any of the rights or powers of Issuing Bank and or Lenders under this Agreement or the obligation of Borrower to make reimbursement hereunder. In furtherance and extension and not in limitation of the specific provisions hereinabove set forth, Borrower agrees that any action, unless such action constitutes willful misconduct or gross negligence, not contrary to the terms of any Letter of Credit, which is taken by Issuing Bank or any Lender issuing such Letter of Credit or by any correspondent under or in connection with such Letter of Credit shall be binding on Borrower and shall not put Issuing Bank or any Lender or any correspondent under any resulting liability to Borrower and Bor...
Restriction on Liability. ECL accepts no liability for any direct or indirect loss suffered by you or the Trustee in the event that an investment is not a per- mitted investment and shall have no responsibility for redressing any breach of the terms of the Scheme, as may have been set by HMRC or any other relevant tax authority. You must ensure that there are sufficient funds within the SSAS account to meet any obligations arising from any investment.
Restriction on Liability. 16 (d) No Duty to Inquire............................ 17 (e) Reimbursement by Lenders...................... 17 SECTION 4. CONDITIONS TO EFFECTIVENESS; CONDITIONS OF LENDING...................................... 17 (b) Initial Advance............................... 18 (c) Subsequent Advances........................... 20
Restriction on Liability. 26 Section 2A.6. No Duty to Inquire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Section 2A.7. Letter of Credit Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Section 2A.8. Acceleration of LC Obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Section 2A.9. Purposes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Restriction on Liability. 27 Section 2A.6. No Duty to Inquire....................................................................28 Section 2A.7. Letter of Credit Fees.................................................................28 Section 2A.8. Acceleration of LC Obligations........................................................29 Section 2A.9. Purposes..............................................................................29 Section 2A.10. Increased Costs for Letters of Credit.................................................29
Restriction on Liability. 28 Section 2A.7 No Duty to Inquire . . . . . . . . . . . . . . . . . . 29 Section 2A.8 Payment of LC Obligations . . . . . . . . . . . . . . . 29 ARTICLE III - Conditions Precedent to Lending . . . . . . . . . . . . . . . 32 Section 3.1. Documents to be Delivered . . . . . . . . . . . . . . . 32 Section 3.2. Additional Conditions Precedent . . . . . . . . . . . . 33
Restriction on Liability. 33 Section 3.6. No Duty to Inquire....................................... 34 ARTICLE IV. - Conditions Precedent to Lending............................... 34 Section 4.1. Documents to be Delivered................................ 34 Section 4.2. Additional Conditions Precedent.......................... 35 ARTICLE V. -
Restriction on Liability. 57 SHARE PURCHASE AGREEMENT ------------------------ THIS AGREEMENT made the 18th day of February, 1997, X X X X X X X: IMPARK INVESTMENTS INC., a corporation existing under the laws of the Province of Ontario, (hereinafter referred to as "Investco"), OF THE FIRST PART, - and - THE PERSONS LISTED ON SCHEDULE 1 HERETO WHO HEREAFTER BECOME VENDORS HEREUNDER, OF THE SECOND PART, FIRST UNION REAL ESTATE EQUITY AND MORTGAGE INVESTMENTS, a business trust existing under the laws of the State of Ohio, (hereinafter referred to as the "Purchaser"), OF THE THIRD PART. THIS AGREEMENT WITNESSES THAT in consideration of the respective covenants, agreements, representations, warranties and indemnities of the parties hereinafter contained and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged by each party), the parties hereby agree as follows:
Restriction on Liability. Notwithstanding any other clause in this Agreement, the Purchaser acknowledge and recognise that the liability of IIUM whether direct, indirect or consequential to this transaction arising from the outright sales of the Product shall be restricted and limited to any breach of IIUM obligations and for the direct lost suffered by the Purchaser for the breach of the clauses mentioned earlier.
Restriction on Liability. Notwithstanding anything contained herein to the contrary, but subject to the provisions of this Section and Section 2.4.12 of the Financing Agreement, the Lender agrees not to seek, take or obtain any deficiency judgment against the Guarantor and the Guarantor shall not be liable for any Obligations remaining unpaid in excess of the value of the MXL Collateral, except as otherwise expressly set forth below in this Section. The Guarantor shall be and remain personally liable for the following: (a) all loss, damage, cost and expense (including reasonable attorney's fees) suffered by the Lender as a result of a breach of the Guarantor's representations and warranties contained in this Agreement or as a result of the intentional waste of the MXL Collateral; and (b) all Proceeds (i) subsequent to the occurrence and during the continuation of any Event of Default or after the maturity of the Loan (whether by acceleration or otherwise) and (ii) not applied to the payment of the sums due under the Loan. In addition, nothing in this Section shall (i) be deemed in any way to be a release or impairment of the Note or of the liens and security interests created pursuant to the provisions of the Financing Agreement or any of the other Financing Documents; (ii) be deemed in any way to be a release or impairment of any of the Lender's rights or remedies set forth in the Financing Documents, at law or in equity; (iii) be deemed to be a waiver of any conditions contained in the Financing Documents; (iv) be deemed to prejudice the rights of the Lender to secure a deficiency judgment against any other Persons who have agreed or who may hereafter agree to be liable for the payment of the indebtedness evidenced by the Note; (v) be deemed to prejudice the rights of the Lender to secure a judgment against any other guarantor; or (vi) be deemed to be a waiver of any right which the Lender may have under the Bankruptcy Code to file a claim for the full amount of the Obligations owing to the Lender by the Guarantor pursuant to this Agreement or to require that all Collateral shall continue to secure all of the Obligations in accordance with the Financing Documents.
