LC Documents definition
Examples of LC Documents in a sentence
Neither Administrative Agent nor any Bank shall have any liability to any Participating Lender by reason of Administrative Agent’s or such Bank’s, as applicable, refraining to take any action under any of the LC Documents without having first received written instructions from the Required Lenders to take such action.
Neither Administrative Agent nor any Bank assumes any responsibility for any failure or delay in performance or breach by any or all Borrowers or any other Person of any of its obligations under any of the LC Documents.
Neither Administrative Agent nor any Bank makes to Participating Lenders any express or implied warranty, representation or guaranty with respect to the Collateral, the LC Documents, or any Obligor.
Administrative Agent and any Bank may consult with and employ legal counsel, accountants and other experts and to advise it concerning its rights, powers and privileges under the LC Documents and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by such experts.
Administrative Agent and any Bank may employ agents and attorneys-in-fact in connection with any matter relating to the LC Documents and shall not be liable for the negligence, default or misconduct of any such agents or attorneys-in-fact selected by Administrative Agent or such Bank, as applicable, with reasonable care.