Common use of Own Clause in Contracts

Own. RESPONSIBILITY It is understood and agreed by each Bank that at all times it has itself been, and will continue to be, solely responsible for making its own independent appraisal of and investigation into all risks arising under or in connection with the Finance Documents including, but not limited to: 12.1 the financial condition, creditworthiness, condition, affairs, status and nature of each member of the Group; 12.2 the legality, validity, effectiveness, adequacy and enforceability of any Finance Documents and any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any Finance Document; 12.3 whether such Bank has recourse, and the nature and extent of that recourse, against an Obligor or any other person or any of their respective assets under or in connection with any Finance Document, the transactions therein contemplated or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any Finance Document; and 12.4 the adequacy, accuracy and/or completeness of the Information Memorandum and any other information provided by the Facility Agent or the Arranger, an Obligor, or by any other person in connection with any Finance Document, the transactions contemplated therein or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any Finance Document. 12.5 Accordingly, each Bank acknowledges to the Facility Agent and the Arranger that it has not relied on and will not hereafter rely on the Facility Agent and the Arranger or any of them in respect of any of these matters.

Appears in 1 contract

Sources: Fourth Amendment Agreement (Sanitec International Sa)

Own. RESPONSIBILITY It is understood and agreed by each Bank that at all times it has itself been, and will continue to be, solely responsible for making its own independent appraisal of and investigation into all risks arising under or in connection with the Finance Documents including, but not limited to: 12.1 33.13.1 the financial condition, creditworthiness, condition, affairs, status and nature of each member of the Group; 12.2 33.13.2 the legality, validity, effectiveness, adequacy and enforceability of any the Finance Documents and any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance DocumentDocuments; 12.3 33.13.3 whether such Bank has recourse, and the nature and extent of that recourse, against an Obligor or any other person or any of their respective assets under or in connection with any the Finance DocumentDocuments, the transactions therein contemplated or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance DocumentDocuments; and 12.4 33.13.4 the adequacy, accuracy and/or completeness of the Information Memorandum and any other information provided by the Facility Agent or the ArrangerArrangers, an Obligor, or by any other person in connection with any the Finance DocumentDocuments, the transactions contemplated therein or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance Document. 12.5 Documents. Accordingly, each Bank acknowledges to the Facility Agent and the Arranger Arrangers that it has not relied on and will not hereafter rely on the Facility Agent and the Arranger Arrangers or any of them in respect of any of these matters.

Appears in 1 contract

Sources: Multicurrency Credit Agreement (Koninklijke Numico Nv)

Own. RESPONSIBILITY It is understood and agreed by each Bank that at all times it has itself been, and will continue to be, solely responsible for making its own independent appraisal of and investigation into all risks arising under or in connection with the Finance Documents including, but not limited to: 12.1 28.13.1 the financial condition, creditworthiness, condition, affairs, status and nature of each member of the Group; 12.2 28.13.2 the legality, validity, effectiveness, adequacy and enforceability of any the Finance Documents and any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance DocumentDocuments; 12.3 28.13.3 whether such Bank has recourse, and the nature and extent of that recourse, against an Obligor or any other person or any of their respective assets under or in connection with any the Finance DocumentDocuments, the transactions therein contemplated or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance DocumentDocuments; and 12.4 28.13.4 the adequacy, accuracy and/or completeness of the Information Memorandum and any other information provided by the Facility Agent or the ArrangerArrangers, an Obligor, or by any other person in connection with any the Finance DocumentDocuments, the transactions contemplated therein or any other agreement, arrangement or document entered into, made or executed in anticipation of, pursuant to or in connection with any the Finance Document. 12.5 Documents. Accordingly, each Bank acknowledges to the Facility Agent and the Arranger Arrangers that it has not relied on and will not hereafter rely on the Facility Agent and the Arranger Arrangers or any of them in respect of any of these matters.

Appears in 1 contract

Sources: Bridge Facility Agreement (Koninklijke Numico Nv)