Common use of Financial Condition of Borrowers Clause in Contracts

Financial Condition of Borrowers. Any Credit Extension may be made to the Borrowers or continued from time to time, without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers at the time of such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowers. Each Guarantor has adequate means to obtain information from the Borrowers on a continuing basis concerning the financial condition of the Borrowers and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers and all circumstances bearing upon the risk of nonpayment of the Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers known as of the Closing Date or thereafter known by any Beneficiary.

Appears in 4 contracts

Samples: Asset Based Revolving Credit Agreement (Contura Energy, Inc.), Asset Based Revolving Credit Agreement (Contura Energy, Inc.), Asset Based Revolving Credit Agreement (Warrior Met Coal, LLC)

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Financial Condition of Borrowers. Any Credit Extension may be made to the Borrowers or continued from time to time, without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers at the time of such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowers. Each Guarantor has adequate means to obtain information from the Borrowers on a continuing basis concerning the financial condition of the Borrowers and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers and all circumstances bearing upon the risk of nonpayment of the Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers known as of the Closing Effective Date or thereafter known by any Beneficiary.

Appears in 3 contracts

Samples: Asset Based Revolving Credit Agreement (Contura Energy, Inc.), Based Revolving Credit Agreement (Alpha Metallurgical Resources, Inc.), Revolving Credit Agreement (Warrior Met Coal, Inc.)

Financial Condition of Borrowers. Any Credit Extension may be made to the Borrowers any Borrower or continued from time to time, in each case without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers such Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowerssuch Borrower. Each Guarantor has adequate means to obtain information from the Borrowers each Borrower on a continuing basis concerning the financial condition of the Borrowers each Borrower and its ability to perform its obligations under the Loan Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers any Borrower now known as of the Closing Date or thereafter hereafter known by any Beneficiary.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Syntax-Brillian Corp), Credit and Guaranty Agreement (Syntax-Brillian Corp)

Financial Condition of Borrowers. Any Credit Extension may be made to the Borrowers any Borrower or continued from time to time, time without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowerssuch Borrower. Each Guarantor has adequate means to obtain information from the Borrowers on a continuing basis concerning the financial condition of the Borrowers and its their ability to perform its their obligations under the Loan Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers now known as of the Closing Date or thereafter hereafter known by any Beneficiary.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Vonage Holdings Corp), Credit and Guaranty Agreement (Vonage Holdings Corp)

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Financial Condition of Borrowers. Any Credit Extension may be made to the Borrowers or continued from time to time, time without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowers. Each Guarantor has adequate means to obtain information from the Borrowers on a continuing basis concerning the financial condition of the Borrowers and its ability to perform its obligations under the Loan Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers now known as of the Closing Date or thereafter hereafter known by any Beneficiary.

Appears in 2 contracts

Samples: Collateral Agreement (Cit Group Inc), Credit and Guaranty Agreement (Cit Group Inc)

Financial Condition of Borrowers. Any Credit Extension may occur or be made to the Borrowers or continued from time to time, without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrowers at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrowersany Borrower. Each Guarantor has adequate means to obtain information from the Borrowers each Borrower on a continuing basis concerning the financial condition of the Borrowers such Borrower and its ability to perform its obligations under the Loan Credit Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrowers each Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrowers any Borrower now known as of the Closing Date or thereafter hereafter known by any Beneficiary.

Appears in 2 contracts

Samples: Governance Agreement (Och-Ziff Capital Management Group LLC), Counterpart Agreement (Och-Ziff Capital Management Group LLC)

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