Common use of Condition of Designated Borrowers Clause in Contracts

Condition of Designated Borrowers. The Company acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the Designated Borrowers and any other guarantor such information concerning the financial condition, business and operations of the Designated Borrowers and any such other guarantor as the Company requires, and that none of the Administrative Agent, the L/C Issuer and the Lenders have any duty, and the Company is not relying on the Administrative Agent, the L/C Issuer and the Lenders at any time, to disclose to the Company any information relating to the business, operations or financial condition of the Designated Borrowers or any other guarantor (the Company waiving any duty on the part of the Administrative Agent, the L/C Issuer and the Lenders to disclose such information and any defense relating to the failure to provide the same).