Reliance on Managing Agent. Unless otherwise advised in writing by a Managing Agent or by any Lender related to such Managing Agent, each party to this Agreement may assume that (i) such Managing Agent is acting for the benefit and on behalf of each of its related Lenders, as well as for the benefit of each assignee or other transferee from any such Person, and (ii) each action taken by such Managing Agent has been duly authorized and approved by all necessary action on the part of its related Lenders.
Appears in 2 contracts
Sources: Credit and Security Agreement (Warner Music Group Corp.), Credit and Security Agreement (Warner Music Group Corp.)