Examples of Facility Bank in a sentence
Notwithstanding any provision to the contrary contained elsewhere herein or in any other Loan Document, no Agent shall have any duties or responsibilities, except those expressly set forth herein, nor shall any Agent have or be deemed to have any fiduciary relationship with any Total Facility Bank or participant, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against any Agent.
Except for notices, reports and other documents expressly required to be furnished to the Total Facility Banks by the Agents herein, no Agent shall have any duty or responsibility to provide any Total Facility Bank with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of the Obligors or any of their respective Affiliates which may come into the possession of any Agent-Related Person.
No failure on the part of any Total Facility Bank or any Agent to exercise, and no delay in exercising, and no course of dealing with respect to, any right under any Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right.
Each Cash Management Bank, Hedge Bank, Secured Facility Bank or Existing Guaranty Bank not a party to the Credit Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX hereof for itself and its Affiliates as if a “Lender” party hereto.
Each Obligor agrees that any Total Facility Bank so purchasing a participation from another Total Facility Bank pursuant to this Section 2.15 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Total Facility Bank were its direct creditor in the amount of such participation.
No Agent-Related Person shall be under any obligation to any Total Facility Bank or participant to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of the Obligors or any Affiliate thereof.
Each Obligor shall provide such information and take such actions reasonably related to the AML Obligors Information as, in each case, are commercially reasonable and reasonably requested by any Total Facility Bank in order to assist such Total Facility Bank in maintaining compliance with AML Legislation in relation to the Obligors and this Agreement.
Each Total Facility Bank represents to the Agents that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of the Obligors and their respective Subsidiaries, and all applicable bank or other regulatory laws.
Each Total Facility Bank hereby notifies each Obligor that pursuant to the requirements of (i) the USA Patriot Act (Title III of Pub.
Subject to the terms of the Account Control Agreement, Lender shall cause the Facility Bank to apply funds on deposit in the Waterfall Account on each Payment Date prior to the occurrence of an Event of Default as follows.