Agent Status. Nothing in this Agreement shall be construed to operate as a waiver by the Agent, with respect to any Debtor or any Subsidiary of any Debtor, the Agent, or any Lender, of the benefit of any exculpatory rights, privileges, immunities, indemnities, or reliance rights contained in any Lender Loan Document, all of which rights, privileges, immunities and indemnities, the parties hereto agree are incorporated by reference herein. For all purposes of this Agreement, the Agent may (a) rely in good faith, as to matters of fact, on any representation of fact believed by the Agent to be true (without any duty of investigation) and that is contained in a written certificate of any authorized representative of any Debtor or of the Trustee, and (b) assume in good faith (without any duty of investigation), and rely upon, the genuineness, due authority, validity, and accuracy of any certificate, instrument, notice, or other document believed by it in good faith to be genuine and presented by the proper person. Each Debtor and Trustee expressly acknowledge that the subordination and related agreements set forth herein by the Agent are made solely in its capacity as Agent under the Loan Agreement and the other Lender Loan Documents and are not made by the Agent in its individual commercial capacity.
Appears in 2 contracts
Sources: Intercreditor and Lien Subordination Agreement (Majestic Holdco, LLC), Intercreditor and Lien Subordination Agreement (Majestic Star Casino LLC)
Agent Status. Nothing in this Agreement shall be construed to operate as a waiver by the Agent, with respect to any Debtor Credit Party or any Subsidiary subsidiary of any DebtorCredit Party, the Agent, or any Lender, of the benefit of any exculpatory rights, privileges, immunities, indemnities, or reliance rights contained in any Lender Loan Document, all of which rights, privileges, immunities and indemnities, the parties Parties hereto agree are incorporated by reference herein. For all purposes of this Agreement, the Agent may (a) rely in good faith, as to matters of fact, on any representation of fact believed by the Agent to be true (without any duty of investigation) and that is contained in a written certificate of any authorized representative of any Debtor Credit Party or of the TrusteeCollateral Agent, and (b) assume in good faith (without any duty of investigation), and rely upon, the genuineness, due authority, validity, and accuracy of any certificate, instrument, notice, or other document believed by it in good faith to be genuine and presented by the proper personPerson. Each Debtor The Credit Parties and Trustee the Collateral Agent expressly acknowledge that the subordination and related agreements set forth herein by the Agent are made solely in its capacity as Agent under the Loan Agreement and the other Lender Loan Documents and are not made by the Agent in its individual commercial capacity.
Appears in 1 contract
Sources: Intercreditor and Lien Subordination Agreement (GNLV Corp)