Common use of The Uniform Customs and Practice Clause in Contracts

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500 (the "Uniform Customs and Practice"), shall be binding on the Company and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writing. The Company assumes all risks of the acts or omissions of the beneficiary of the Letter of Credit with respect to the Letter of Credit. In furtherance of, and not in limitation of the Bank's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.08, it is understood and agreed that the Bank shall ------------ not have any liability for and that the Company assumes all responsibility for: (i) the genuineness of any signature; (ii) the form, sufficiency, accuracy, genuineness, falsification or legal effect of any draft, certification or other document required by the Letter of Credit or the authority of the person signing the same; (iii) the failure of any instrument to bear any reference or adequate reference to the Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the Letter of Credit or to surrender the Letter of Credit; (iv) the good faith or acts of any person other than the Bank and its agents and employees; (v) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vi) any delay in giving or failure to give any notice, demand or protest; and (vii) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the Letter of Credit shall be made by the Bank in its sole discretion, which determination shall be prima facie evidence of compliance. It is agreed that the Bank may honor, as complying with the terms of the Letter of Credit and this Agreement, any documents which appear on their face to be in accordance with the terms and conditions of the Letter of Credit, and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank under or in connection with the Letter of Credit or related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade or commercial or banking customs as may be applicable, shall be binding upon the Company, shall not place the Bank under any liability to the Company, and shall not affect, impair or prevent the vesting of any of the Bank's rights or powers hereunder or the Company's obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Reimbursement Agreement (Afc Cable Systems Inc)

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The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice -------------------------------- for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrowers and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAgent. The Company assumes Borrowers assume all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAgent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.082.16.6, it is understood and agreed that the Bank Agent shall ------------ not have any liability for for, and that the Company assumes Borrowers assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrowers. It is agreed that the Bank Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrowers, shall not place the Bank Agent or the Lenders under any liability to the CompanyBorrowers, and shall not affect, impair or prevent the vesting of any of the BankAgent's or the Lenders' rights or powers hereunder or the Company's Borrowers' obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Brookstone Inc)

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrower and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAgent. The Company assumes Borrower assume all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAgent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.081.17.5, it is understood and agreed that the Bank Agent shall ------------ not have any liability for for, and that the Company assumes Borrower assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrower. It is agreed that the Bank Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrower, shall not place the Bank Agent or the Lenders under any liability to the CompanyBorrower, and shall not affect, impair or prevent the vesting of any of the BankAgent's or the Lenders' rights or powers hereunder or the Company's Borrower' obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Green Mountain Coffee Roasters Inc)

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and -------------------------------- Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrowers, the Lenders and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAgent. The Company assumes Borrowers assume all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAgent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.082.16.6, it is understood and agreed that the Bank Agent shall ------------ not have any liability for for, and that the Company assumes Borrowers assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person Person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons Persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person Person other than the Bank Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrowers. It is agreed that the Bank Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrowers, shall not place the Bank Agent or the Lenders under any liability to the CompanyBorrowers, and shall not affect, impair or prevent the vesting of any of the BankAgent's or the Lenders' rights or powers hereunder or the Company's Borrowers' obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Brookstone Inc)

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrower and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAdministrative Agent. The Company Borrower assumes all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the Bank's Administrative Agent’s rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.082.15.6, it is understood and agreed that the Bank Administrative Agent shall ------------ not have any liability for for, and that the Company Borrower assumes all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Administrative Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery non-delivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Administrative Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrower. It is agreed that the Bank Administrative Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Administrative Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Administrative Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrower, shall not place the Bank Administrative Agent or the Lenders under any liability to the CompanyBorrower, and shall not affect, impair or prevent the vesting of any of the Bank's Administrative Agent’s or the Lenders’ rights or powers hereunder or the Company's Borrower’ obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Presstek Inc /De/)

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The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and -------------------------------- Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrowers and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAgent. The Company assumes Borrowers assume all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAgent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.082.16.6, it is understood and agreed that the Bank Agent shall ------------ not have any liability for for, and that the Company assumes Borrowers assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrowers. It is agreed that the Bank Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank under or in connection with the Letter of Credit or related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade or commercial or banking customs as may be applicable, shall be binding upon the Company, shall not place the Bank under any liability to the Company, and shall not affect, impair or prevent the vesting of any of the Bank's rights or powers hereunder or the Company's obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.beneficiary

Appears in 1 contract

Samples: Credit Agreement (Brookstone Inc)

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrower and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAdministrative Agent. The Company Borrower assumes all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAdministrative Agent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.082.15.6, it is understood and agreed that the Bank Administrative Agent shall ------------ not have any liability for for, and that the Company assumes Borrower assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Administrative Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery non-delivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Administrative Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrower. It is agreed that the Bank Administrative Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Administrative Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Administrative Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrower, shall not place the Bank Administrative Agent or the Lenders under any liability to the CompanyBorrower, and shall not affect, impair or prevent the vesting of any of the BankAdministrative Agent's or the Lenders' rights or powers hereunder or the Company's Borrower' obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Presstek Inc /De/)

The Uniform Customs and Practice. Modification, ---------------------------------------------- Consent, Etc. ------- --- (a) The Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce ICC Publication No. 500 (the "Uniform Customs and Practice"), 500) shall be binding on the Company Borrowers and the Bank with respect to the Letter of Credit except as otherwise provided in the Letter of Credit and except to the extent otherwise from time to time agreed to by the Bank and the Company in writingAgent. The Company assumes Borrowers assume all risks of the acts or omissions of the beneficiary of the each Letter of Credit with respect to the such Letter of Credit. In furtherance of, and not in limitation of the BankAgent's rights and powers under the Uniform Customs and Practice, but subject to all other provisions of this Section 2.081.17.5, it is understood and agreed that the Bank Agent shall ------------ not have any liability for for, and that the Company assumes Borrowers assume all responsibility for: (ia) the genuineness of any signature; (iib) the form, correctness, validity, sufficiency, accuracy, genuineness, falsification or and legal effect of any draft, certification or other document required by the a Letter of Credit or the authority of the person signing the same; (iiic) the failure of any instrument to bear any reference or adequate reference to the a Letter of Credit or the failure of any persons to note the amount of any instrument on the reverse of the a Letter of Credit or to surrender a Letter of Credit or otherwise to comply with the terms and conditions of a Letter of Credit; (ivd) the good faith or acts of any person other than the Bank Agent and its agents and employees; (ve) the existence, form, sufficiency or breach of or default under any agreement or instrument (other than the Letter of Credit) of any nature whatsoever; (vif) any delay in giving or failure to give any notice, demand or protest; and (viig) any error, omission, delay in or nondelivery of any notice or other communication, however sent. The determination as to whether the required documents are presented prior to the expiration of the a Letter of Credit and whether such other documents are in proper and sufficient form for compliance with the a Letter of Credit shall be made by the Bank Agent in its sole discretion, which determination shall be prima facie evidence of complianceconclusive and binding upon the Borrowers. It is agreed that the Bank Agent may honor, as complying with the terms of the Letter Letters of Credit and this Agreement, any documents which appear on their face to be otherwise in accordance with the terms and conditions of the Letter of Credit, order and signed or issued by the beneficiary thereof. Any action, inaction or omission on the part of the Bank Agent under or in connection with the Letter Letters of Credit or any related instruments or documents, if in good faith and in conformity with such laws, regulations, usage of trade regulations or commercial or banking customs as the Agent may reasonably deem to be applicable, shall be binding upon the CompanyBorrowers, shall not place the Bank Agent or the Lenders under any liability to the CompanyBorrowers, and shall not affect, impair or prevent the vesting of any of the BankAgent's or the Lenders' rights or powers hereunder or the Company's Borrowers' obligation to make full reimbursement. (b) If the Company, either in writing or orally (confirmed by either party in writing), requests or consents to any modification or extension of the Letter of Credit or waives failure of any draft, certificate or other documents to comply with the terms of the Letter of Credit, the Bank shall be deemed to have relied and be entitled to rely on such requests, consent or waiver with respect to any action taken or omitted by the Bank pursuant to any such request, consent or waiver, and such extension, modification or waiver shall be binding upon the Company.

Appears in 1 contract

Samples: Credit Agreement (Green Mountain Coffee Inc)

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