Each U. S. Borrower and Canadian Borrower agrees that any action taken or omitted by the Issuing Lender under or in connection with any Letter of Credit or the related drafts or documents, if done in the absence of gross negligence or willful misconduct (as determined in a final non-appealable decision issued by a court of competent jurisdiction) and in accordance with the standards of care specified in the Uniform Commercial Code of the State of New York, shall be binding on each such Borrower and shall not result in any liability of any Issuing Lender or L/C Participant to any Borrower.
Appears in 4 contracts
Samples: Credit Agreement (RSC Equipment Rental, Inc.), Credit Agreement (RSC Equipment Rental, Inc.), The Credit Agreement (RSC Holdings Inc.)
