Common use of Lack of Reliance Clause in Contracts

Lack of Reliance. ON THE PURCHASER REPRESENTATIVE. Independently and without reliance upon the Purchaser Representative, each Purchaser, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company and its subsidiaries in connection with such Purchaser's investment in the Company, the creation and continuance of the Obligations, the transactions contemplated by the Transaction Documents, and the taking or not taking of any action in connection therewith, and (ii) its own appraisal of the creditworthiness of the Company and its subsidiaries, and of the value of the Collateral from time to time, and the Purchaser Representative shall have no duty or responsibility, either initially or on a continuing basis, to provide any Purchaser with any credit, market or other information with respect thereto, whether coming into its possession before any Obligations are incurred or at any time or times thereafter. The Purchaser Representative shall not be responsible to Company or any Purchaser for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith, or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of this Agreement, or for the financial condition of the Company or the value of any of the Collateral, or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreement, or the financial condition of the Company, or the value of any of the Collateral, or the existence or possible existence of any default or Event of Default under this Agreement, the Debentures or any of the other Transaction Documents.

Appears in 3 contracts

Samples: Registration Rights Agreement (Composite Technology Corp), Registration Rights Agreement (Composite Technology Corp), Custodial and Security Agreement (Secured Services Inc)

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Lack of Reliance. ON THE PURCHASER REPRESENTATIVEon the Collateral Agent. Independently and without reliance upon the Purchaser RepresentativeCollateral Agent, each PurchaserLender, to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company and its subsidiaries in connection with such Purchaser's Lender’s investment in the CompanyBorrowers, the creation and continuance of the Obligations, the transactions contemplated by the Transaction Documents, and the taking or not taking of any action in connection therewith, and (ii) its own appraisal of the creditworthiness of the Company and its subsidiaries, and of the value of the Collateral from time to time, and the Purchaser Representative Collateral Agent shall have no duty or responsibility, either initially or on a continuing basis, to provide any Purchaser Lender with any credit, market or other information with respect thereto, whether coming into its possession before any Obligations are incurred or at any time or times thereafter. The Purchaser Representative Collateral Agent shall not be responsible to Company the Borrowers or any Purchaser Lender for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith, or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of this Agreementthe Agreement or any other Transaction Document, or for the financial condition of the Company Borrowers or the value of any of the Collateral, or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this Agreementthe Agreement or any other Transaction Document, or the financial condition of the CompanyBorrowers, or the value of any of the Collateral, or the existence or possible existence of any default or Event of Default under this the Agreement, the Debentures or any of the other Transaction Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (T3 Motion, Inc.)

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Lack of Reliance. ON THE PURCHASER REPRESENTATIVEon the Administrative Agent and the Lead Arranger. Independently and without reliance upon the Purchaser RepresentativeAdministrative Agent or the Lead Arranger, each PurchaserLender and the holder of each Note, to the extent it deemed or deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial condition and affairs of the Company Borrower and its subsidiaries Subsidiaries in connection with such Purchaser's investment in the Company, making and the creation and continuance of the Obligations, the transactions contemplated by the Transaction Documents, Loans and the taking or not taking of any action in connection therewith, herewith and (ii) its own appraisal of the creditworthiness of the Company Borrower and its subsidiariesSubsidiaries and, and of except as expressly provided in this Agreement, neither the value of Administrative Agent nor the Collateral from time to time, and the Purchaser Representative Lead Arranger shall have no any duty or responsibility, either initially or on a continuing basis, to provide any Purchaser Lender or the holder of any Note with any credit, market credit or other information with respect thereto, whether coming into its possession before any Obligations are incurred the making of the Loans or at any time or times thereafter. The Purchaser Representative Neither the Administrative Agent nor the Lead Arranger shall not be responsible to Company any Lender or the holder of any Purchaser Note for any recitals, statements, information, representations or warranties herein or in any document, certificate or other writing delivered in connection herewith, herewith or for the execution, effectiveness, genuineness, validity, enforceability, perfection, collectibilitycollectability, priority or sufficiency of this Agreement, Agreement or for any other Credit Document or the financial condition of the Company Borrower or the value of any of the Collateral, its Subsidiaries or be required to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of this AgreementAgreement or any other Credit Document, or the financial condition of the Company, Borrower or the value of any of the Collateral, its Subsidiaries or the existence or possible existence of any default Default or Event of Default under this Agreement, the Debentures or any of the other Transaction DocumentsDefault.

Appears in 1 contract

Samples: Credit Agreement (Compuware Corporation)

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