Common use of Agent's liability Clause in Contracts

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (a) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement required by Section 0 of this Agreement signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement; (b) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (c) makes no warranty or representation to any Bank and shall not be responsible to any Bank for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 or 0 of this Agreement or in any Credit Request, Rate Continuation/Conversion Request or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (d) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the Borrower; (e) shall not be responsible to any Bank for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or collateral covered by any agreement or any other Loan Document and (f) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Bank of any of its obligations hereunder or to any Bank on account of the failure of or delay in performance or breach by any other Bank or the Borrower of any of their respective obligations hereunder or under any Loan Document or in connection herewith or therewith. The

Appears in 2 contracts

Samples: Credit Agreement (Om Group Inc), Credit Agreement (Om Group Inc)

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Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) except as expressly set forth in the Loan Documents, shall not have any duty to disclose, or shall be liable for any failure to disclose, any information relating to the Borrowers or any of their Subsidiaries that is communicated to or obtained by the Agent or any of its Affiliates in any capacity; (v) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (evi) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvii) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable cable, telex or telexemail) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 15.1).

Appears in 2 contracts

Samples: Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (ev) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvi) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Lincoln Electric Holdings Inc), Credit Agreement (Lincoln Electric Holdings Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (ev) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvi) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable cable, telex or telexemail) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 15.1).

Appears in 1 contract

Samples: Credit Agreement (Lincoln Electric Holdings Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement required by Section 0 12.1(b) of this Agreement signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 12.1(b) of this Agreement; (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 or 0 of pursuant to this Agreement or in any Credit Request, Rate Continuation/Conversion Request or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; , (div) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the Borrower; (e) shall not be responsible to any Bank for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or collateral covered by any agreement or any other Loan Document and (f) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Bank of any of its obligations hereunder or to any Bank on account of the failure of or delay in performance or breach by any other Bank or the Borrower of any of their respective obligations hereunder or under any Loan Document or in connection herewith or therewith. Thethe

Appears in 1 contract

Samples: Asset Based Loan and Security Agreement (Mazel Stores Inc)

Agent's liability. Neither the Agent (acting in its capacity as Agent), nor any of its directors, officers, employees, attorneys, and other agents acting for the Agent, as the case may be, in such capacities respectively, shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (a) may treat the payee of any Revolving Credit Term Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement required by Section 0 of this Agreement any assignment with respect thereto, signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this AgreementAgent; (b) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or of such counsel, accountants or experts which have been selected by the Agent with reasonable care; (c) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 or 0 of this Agreement or in any Credit Request, Rate Continuation/Conversion Request or any other similar notice or deliveryhereunder, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (d) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes Agreement or any other Loan Document or to inspect the property (including the books and records) of the Borrower; (e) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or collateral covered by any agreement or any other Loan Document and (f) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes Agreement or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents thereof shall have any responsibility to the Borrower or any Subsidiary Guarantor on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower or any Subsidiary Guarantor of any of their respective obligations hereunder or under any Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement or any other Loan Document unless it shall be requested in writing to do so by the Lenders.

Appears in 1 contract

Samples: Credit and Security Agreement (Ceres Group Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) except as expressly set forth in the Loan Documents, shall not have any duty to disclose, or shall be liable for any failure to disclose, any information relating to the Borrowers or any of their Subsidiaries that is communicated to or obtained by the Agent or any of its Affiliates in any capacity; (v) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (evi) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvii) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable cable, telex or telexemail) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 15.1).

Appears in 1 contract

Samples: Credit Agreement (Lincoln Electric Holdings Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate ​ 1095144433\6\AMERICAS ​ delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) except as expressly set forth in the Loan Documents, shall not have any duty to disclose, or shall be liable for any failure to disclose, any information relating to the Borrowers or any of their Subsidiaries that is communicated to or obtained by the Agent or any of its Affiliates in any capacity; (v) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (evi) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvii) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable cable, telex or telexemail) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. The​ The Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 15.1). ​

Appears in 1 contract

Samples: Credit Agreement (Lincoln Electric Holdings Inc)

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Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable to any Bank for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (a) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement required by Section 0 of this Agreement any assignment with respect thereto, signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this AgreementAgent; (b) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (c) makes no warranty or representation to any Bank and shall not be responsible to any Bank for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 2, 3, or 0 5 of this Agreement or in any Credit Request, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (d) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the Borrower; (e) shall not be responsible to any Bank for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or collateral covered by any agreement or any other Loan Document and (f) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Bank of any of its obligations hereunder or to any Bank on account of the failure of or delay in performance or breach by any other Bank or the Borrower of any of their respective obligations hereunder or under any Loan Document or in connection herewith or therewith. TheThe Banks each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Required Banks.

Appears in 1 contract

Samples: Credit and Security Agreement (Curtis Sub Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 13.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement13.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank and shall not be responsible to any Bank for any statements, warranties or representations made in or in connection with this Agreement Agreement, any Guaranty of Payment or any other Loan DocumentRelated Writing, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document Related Writing or to inspect the property (including the books and records) of the BorrowerBorrower or any Subsidiaries; (ev) shall not be responsible to any Bank for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any Guaranty of Payment or collateral covered by any agreement or any other Loan Document Related Writing and (fvi) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document Related Writing by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Bank of any of its obligations hereunder or to any Bank on account of the failure of or delay in performance or breach by any other Bank or the Borrower of any of their respective obligations hereunder or under any Loan Document Related Writing or in connection herewith or therewith. TheThe Banks each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Related Writing unless it shall be requested in writing to do so by the Majority Banks.

Appears in 1 contract

Samples: Credit Agreement (Shiloh Industries Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, attorneys and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (a) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement required by Section 0 of this Agreement any assignment with respect thereto, signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this AgreementAgent; (b) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which that have been selected by the Agent with reasonable care; (c) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by the Borrower under Sections 0 2 or 0 3 of this Agreement or in any Credit Request, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (d) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the Borrower; (e) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document, or collateral covered by any agreement or any other Loan Document and (f) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable or telex) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Revolving Credit Notes or any other Loan Document unless it shall be requested in writing to do so by the Required Lenders.

Appears in 1 contract

Samples: Credit and Security Agreement (Diy Home Warehouse Inc)

Agent's liability. Neither the Agent nor any of its directors, officers, employees, attorneys, and other agents shall be liable for any action or omission on their respective parts except for gross negligence or willful misconduct. Without limitation of the generality of the foregoing, the Agent: (ai) may treat the payee of any Revolving Credit Note as the holder thereof until the Agent receives a fully executed copy of the Assignment Agreement assignment agreement required by Section 0 of this Agreement 14.1(b) signed by such payee and in form satisfactory to the Agent and the fee required by Section 0 of this Agreement14.1(c); (bii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice or such counsel, accountants or experts which have been selected by the Agent with reasonable care; (ciii) makes no warranty or representation to any Bank Lender and shall not be responsible to any Bank Lender for any statements, warranties or representations made in or in connection with this Agreement or any other Loan Document, including, without limitation, the truth of the statements made in any certificate delivered by or on behalf of the Borrower Borrowers under Sections 0 Article 6 or 0 any Notice of this Agreement or in any Credit RequestBorrowing, Rate Continuation/Conversion Request Request, Reimbursement Agreement or any other similar notice or delivery, the Agent being entitled for the purposes of determining fulfillment of the conditions set forth therein to rely conclusively upon such certificates; (div) except as expressly set forth in the Loan Documents, shall not have any duty to disclose, or shall be liable for any failure to disclose, any information relating to the Borrowers or any of their Subsidiaries that is communicated to or obtained by the Agent or any of its Affiliates in any capacity; (v) shall not have any duty to ascertain or to inquire as to the performance or ​ ​ observance of any of the terms, covenants or conditions of this Agreement, the Revolving Credit Notes or any other Loan Document or to inspect the property (including the books and records) of the BorrowerHoldings or any Subsidiaries; (evi) shall not be responsible to any Bank Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, or any collateral covered by any agreement or any other Loan Document and (fvii) shall incur no liability under or in respect of this Agreement, the Revolving Credit Notes or any other Loan Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy, cable cable, telex or telexemail) believed by it in good faith to be genuine and correct and signed or sent by the proper party or parties. Neither the Agent nor any of its directors, officers, employees or agents shall have any responsibility to the Borrower Borrowers on account of the failure of or delay in performance or breach by any Bank Lender of any of its obligations hereunder or to any Bank Lender on account of the failure of or delay in performance or breach by any other Bank Lender or the Borrower Borrowers of any of their respective obligations hereunder or under any other Loan Document or in connection herewith or therewith. TheThe Lenders each hereby acknowledge that the Agent shall be under no duty to take any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement, the Notes or any other Loan Document unless it shall be requested in writing to do so by the Majority Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 15.1).

Appears in 1 contract

Samples: Credit Agreement (Lincoln Electric Holdings Inc)

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