Common use of Non-Reliance on Agent and Other Banks Clause in Contracts

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Facility Document. The Agent shall not be required to keep itself informed as to the performance or observance by the Obligors of this Agreement or any other Facility Document or any other document referred to or provided for herein or therein or to inspect the Properties or books of any Obligor. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of any Obligor (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Facility Document or any document or instrument referred to herein or therein, to anyone.

Appears in 2 contracts

Samples: Credit Agreement (Daka International Inc), Credit Agreement (Daka International Inc)

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors Borrowers and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any other Facility Document. The Agent shall not be required to keep itself informed as to the performance or observance by the Obligors any Borrower of this Agreement or any other Facility Document or any other document referred to or provided for herein or therein or to inspect the Properties properties or books of any ObligorBorrower. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of any Obligor Borrower (or any of their his or its Affiliates) which may come into the possession of the Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Facility Document or any document or instrument referred to herein or therein, to anyone.

Appears in 2 contracts

Samples: Credit Agreement (Lauder Ronald S), Credit Agreement (Lauder Ronald S)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Facility DocumentLoan Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Obligors Borrower of this Agreement or any of the other Facility Document Loan Documents or any other document referred to or provided for herein or therein or to inspect the Properties properties or books of the Borrower or any Obligorother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Obligor other Person (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliatesAgent. The Agent shall not be required to file this Agreement, any other Facility Document Borrower and each Bank acknowledges that each Bank designated as a "Documentation Agent" or any document or instrument referred to herein or therein, for record or give notice "Syndication Agent" on the signature pages of this AgreementAgreement shall have no right, any other Facility Document duty or any document responsibility, and shall incur no liability, under this Agreement in its capacity as a "Documentation Agent" or instrument referred to herein or therein, to anyone"Syndication Agent".

Appears in 2 contracts

Samples: Credit Agreement (Cadmus Communications Corp/New), Credit Agreement (Cadmus Communications Corp/New)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Facility DocumentLoan Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Obligors Borrower of this Agreement or any of the other Facility Document Loan Documents or any other document referred to or provided for herein or therein or to inspect the Properties properties or books of the Borrower or any Obligorother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Obligor other Person (or any of their Affiliates) which may come into the possession of the Agent. Each Bank acknowledges that each Bank designated as a "Co-Agent", "Documentation Agent", or "Syndication Agent" on the signature pages of this Agreement shall have no right, duty or responsibility, and shall incur no liability, under this Agreement in its capacity as a Co-Agent, Documentation Agent or any of its affiliates. The Agent shall not be required to file this AgreementSyndication Agent, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Facility Document or any document or instrument referred to herein or therein, to anyoneas the case may be.

Appears in 1 contract

Samples: Credit Agreement (Meredith Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees represents that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis appraisal of the Obligors financial condition and affairs of the Company and decision to enter into this Agreement and the other Loan Documents and agrees that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis appraisals and decisions in taking or not taking action under this Agreement or any other Facility Loan Document. The Agent shall not be required to keep itself informed as to the performance or observance by the Obligors Company of this Agreement or any other Facility Loan Document or any other document referred to or provided for herein or therein or by any other Person of and agreement or to make enquiry of, or to inspect the Properties properties or books of of, any ObligorPerson. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of any Obligor (or any of their Affiliates) Person which may come into the possession of the Agent or any of its affiliates. The Each Bank shall have access to all documents relating to the Agent's performance of its duties hereunder, at such Bank's request. Unless any Bank shall promptly object to any action taken by the Agent hereunder, such Bank shall not conclusively be required presumed to file this Agreement, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Facility Document or any document or instrument referred to herein or therein, to anyonehave approved the same.

Appears in 1 contract

Samples: Revolving Credit Agreement (Universal Health Realty Income Trust)

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Facility DocumentLoan Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Obligors Borrower of this Agreement or any of the other Facility Document Loan Documents or any other document referred to or provided for herein or therein or to inspect the Properties properties or books of the Borrower or any Obligorother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Obligor other Person (or any of their Affiliates) which may come into the possession of the Agent or any of its affiliatesAgent. The Agent shall not be required to file this Agreement, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice Each Bank acknowledges that each Bank designated as a "Co-Agent" on the signature pages of this AgreementAgreement shall have no right, any other Facility Document duty or any document or instrument referred to herein or thereinresponsibility, to anyoneand shall incur no liability, under this Agreement in its capacity as a Co-Agent.

Appears in 1 contract

Samples: Credit Agreement (Cadmus Communications Corp/New)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Obligors Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Facility DocumentLoan Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Obligors Borrower of this Agreement or any of the other Facility Document Loan Documents or any other document referred to or provided for herein or therein or to inspect the Properties properties or books of the Borrower or any Obligorother Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunderhereunder or under the other Loan Documents, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any Obligor other Person (or any of their Affiliates) which may come into the possession of the Agent. Each Bank acknowledges that each Bank designated as a "Syndication Agent" or "Documentation Agent" on the signature pages of this Agreement shall have no right, duty or responsibility and shall incur no liability, under this Agreement in its capacity as a Syndication Agent or any of its affiliates. The Agent shall not be required to file this Agreement, any other Facility Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Facility Document or any document or instrument referred to herein or therein, to anyoneDocumentation Agent.

Appears in 1 contract

Samples: Credit Agreement (Meredith Corp)

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