Common use of Existence and Amounts of Liens and Obligations Clause in Contracts

Existence and Amounts of Liens and Obligations. Whenever an Authorized Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Lien Revolving Facility Obligations (or the existence of any commitment to extend credit that would constitute First-Lien Revolving Facility Obligations), any First-Lien Note Obligations (or the existence of any commitment to extend credit that could constitute First-Lien Note Obligations), any Series of Other First-Priority Lien Obligations (or the existence of any commitment to extend credit that would constitute any Series of Other First-Priority Lien Obligations), or the Shared Collateral subject to any such Lien, it may request that such information be furnished to it in writing by each other Authorized Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that if an Authorized Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Authorized Representative shall be entitled to make any such determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Company. Each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to Holdings or any of its subsidiaries, any First-Priority Lien Obligations Secured Party or any other Person as a result of such determination.

Appears in 2 contracts

Samples: Joinder Agreement (Verso Paper Corp.), Joinder Agreement (Verso Quinnesec REP Holding Inc.)

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Existence and Amounts of Liens and Obligations. Whenever an the Applicable Authorized Representative or any Authorized Representative shall be required, in connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Lien Revolving Facility Priority Obligations (or the existence of any commitment to extend credit that would constitute First-Lien Revolving Facility Obligations), any First-Lien Note Obligations (or the existence of any commitment to extend credit that could constitute First-Lien Note Obligations), any Series of Other First-Priority Lien Obligations (or the existence of any commitment to extend credit that would constitute any Series of Other First-Priority Lien Obligations)Series, or the Shared Common Collateral subject to any such LienLien securing the First-Priority Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized Representative and shall be entitled to make such determination on the basis of the information so furnished; provided, however, that that, if an Authorized Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Applicable Authorized Representative or Authorized Representative shall be entitled to make any such determination or not make any determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of the Company. Each The Applicable Authorized Representative and each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of competent jurisdiction) and shall have no liability to Holdings or any of its subsidiariesGrantor, any First-Priority Lien Obligations Secured Party or any other Person person as a result of such determination.

Appears in 2 contracts

Samples: Credit Agreement (Sprouts Farmers Markets, LLC), Credit Agreement (DS Services of America, Inc.)

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