Monitoring Responsibility Clause Samples
The Monitoring Responsibility clause assigns the duty of overseeing compliance with certain obligations or standards to a specified party within an agreement. Typically, this clause outlines which party is responsible for tracking performance, ensuring adherence to regulations, or reporting on progress, such as a contractor monitoring safety protocols or a service provider tracking service levels. Its core practical function is to clearly allocate accountability for ongoing oversight, thereby reducing ambiguity and helping to ensure that contractual requirements are consistently met.
Monitoring Responsibility. Each Bank will make its own credit decisions hereunder, including the decision whether or not to make advances or consent to the Issuance of Letters of Credit, thus the Agent shall have no duty to monitor the amounts outstanding under sub-lines or the reporting requirements or the contents of reports delivered by the Co-Borrowers. Each Bank assumes the responsibility of keeping itself informed at all times.
Monitoring Responsibility. The Parties acknowledge that notwithstanding the fact that an Export Credit Agency may be in receipt of information under the Transaction Documents they have no duty to monitor such information or responsibility in relation thereto.
Monitoring Responsibility. The Arrangers and Certain Agents ARTICLE XI MISCELLANEOUS
Monitoring Responsibility. 71 ARTICLE XI MISCELLANEOUS
Monitoring Responsibility. The Administrative Agent shall have no duty to monitor the Collateral or the Collateral Position, the amounts outstanding hereunder or the reporting requirements or the contents of reports delivered by the Borrower. Each Lender assumes the responsibility of keeping itself informed at all times.