Common use of Responsibility of Issuing Lender Clause in Contracts

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 shall be deemed to prejudice the right of any Participant to recover from the Issuing Lender any amounts made available by such Participant to the Issuing Lender pursuant to this Section 2.3 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

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Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 5 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Gorges Quik to Fix Foods Inc), Credit Agreement (Deltic Timber Corp)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant to recover from the Issuing Lender any amounts made available by such Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders -------------------------------- that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing -------- ------- set forth in this Section 2.3 2.6 shall be deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.6 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Ventiv Health Inc), Credit Agreement (Snyder Communications Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be -------- ------- deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (National Equipment Services Inc), Credit Agreement (Dyson Kissner Moran Corp)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the each Issuing Lender hereunder to the Participants Revolving Lenders are only those expressly set forth in this Credit Agreement and that the each Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant Revolving Lender to recover from the relevant Issuing Lender any amounts made available by such Participant Revolving Lender to the such Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 2 contracts

Samples: Credit Agreement (Cca Prison Realty Trust), Credit Agreement (Corrections Corp of America/Md)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, -------- however, that nothing set forth in this Section 2.3 2.2 shall be deemed to ------- prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Engineered Support Systems Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant Revolving Lender to recover from the Issuing Lender any amounts made available by such Participant Revolving Lender to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Cluett Peabody & Co Inc /De)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 shall be -------- ------- deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Highwoods Realty LTD Partnership)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Banks are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that -------- ------- nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant Bank to recover from the Issuing Lender any amounts made available by such Participant Bank to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Ethyl Corp)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, -------- ------- that nothing set forth in this Section 2.3 2.6 shall be deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.6 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Triad Hospitals Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing -------- ------- set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (PSS World Medical Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Revolving Loan Lenders that the obligations of the an Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the an Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 shall be deemed to prejudice the right of any LOC Participant to recover from the DB1/ 97661265.5 an Issuing Lender any amounts made available by such LOC Participant to the such Issuing Lender pursuant to this Section 2.3 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the such Issuing Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 5 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Covance Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 4 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Knoll Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 4.02 have been satisfied unless it shall have acquired actual ------------ knowledge that any such condition precedent has not been satisfied; provided, -------- however, that nothing set forth in this Section 2.3 2.02 shall be deemed to ------- ------------ prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.02 in ------------ the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (American Seafoods Inc)

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Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Revolving Loan Lenders that the obligations of the an Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the an Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 shall be deemed to prejudice the right of any LOC Participant to recover from the an Issuing Lender any amounts made available by such LOC Participant to the such Issuing Lender pursuant to this Section 2.3 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the such Issuing Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; providedPROVIDED, howeverHOWEVER, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Medical Staffing Network Holdings Inc)

Responsibility of Issuing Lender. (i) It is expressly -------------------------------- understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Security Agreement (Packaging Dynamics Corp)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be -33- deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Davel Communications Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Tranche A Lenders are only those expressly set forth in this Credit Amended Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 shall be deemed to prejudice the right of any Participant Tranche A Lender to recover from the Issuing Lender any amounts made available by such Participant Tranche A Lender to the Issuing Lender pursuant to this Section 2.3 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Guarantee Agreement (Isg Resources Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, -------- ------- that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Navigant International Inc)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the issuance of or payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Three Year Credit Agreement (Wisconsin Energy Corp)

Responsibility of Issuing Lender. (i) It is expressly understood and agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the LOC Participants are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.2 shall be deemed to prejudice the right of any LOC Participant to recover from the Issuing Lender any amounts made available by such LOC Participant to the Issuing Lender pursuant to this Section 2.3 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Revolving Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Maxim Group Inc /)

Responsibility of Issuing Lender. (i) It is expressly understood and -------------------------------- agreed as between the Lenders that the obligations of the Issuing Lender hereunder to the Participants Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Lender shall be entitled to assume that the conditions precedent set forth in Section 5.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; provided, however, that nothing set forth in this Section 2.3 2.6 shall be ------- ------- deemed to prejudice the right of any Participant Lender to recover from the Issuing Lender any amounts made available by such Participant Lender to the Issuing Lender pursuant to this Section 2.3 2.6 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Lender.

Appears in 1 contract

Samples: Credit Agreement (Friedmans Inc)

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