Common use of No Obligation to Inquire Clause in Contracts

No Obligation to Inquire. Each Borrower hereby acknowledges and confirms to each of the Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders that the Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not be obliged to make any inquiry or investigation as to the right of any beneficiary to make any claim or Draft or request any payment under a Letter of Credit and payment pursuant to a Letter of Credit shall not be withheld by reason of any matters in dispute between the beneficiary thereof and the applicable Borrower. The sole obligation of the Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender and the Agent and the Lenders with respect to Letters of Credit is to cause to be paid a Draft drawn or purporting to be drawn in accordance with the terms of the 31150487.8 applicable Letter of Credit and for such purpose the Operating Lender, the relevant Fronting Lender, the U.S. Facility Fronting Lender or Agent, as the case may be, is only obliged to determine that the Draft purports to comply with the terms and conditions of the relevant Letter of Credit. The Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not have any responsibility or liability for or any duty to inquire into the form, sufficiency (other than to the extent provided in the preceding paragraph), authorization, execution, signature, endorsement, correctness (other than to the extent provided in the preceding paragraph), genuineness or legal effect of any Draft, certificate or other document presented to it pursuant to a Letter of Credit and the Borrowers unconditionally assumes all risks with respect to the same. Each Borrower agrees that it assumes all risks of the acts or omissions of the beneficiary of any Letter of Credit with respect to the use by such beneficiary of the relevant Letter of Credit. The Borrowers each further agree that none of the Agent nor any Lender, including the Fronting Lenders, the U.S. Facility Fronting Lender and the Operating Lender, nor any of their respective officers, directors or correspondents will assume liability for, or be responsible for:

No Obligation to Inquire. Each The Canadian Borrower hereby acknowledges and confirms to each of the Operating LenderFronting Lenders, the Agent and the Syndicated Facility Lenders that the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders that the Operating Lender, the Fronting Lenders, the U.S. Syndicated Facility Fronting Lender, the Agent and the Lenders shall not be obliged to make any inquiry or investigation as to the right of any beneficiary to make any claim or Draft or request any payment under a Letter of Credit and payment pursuant to a Letter of Credit shall not be withheld by reason of any matters in dispute between the beneficiary thereof and the applicable Canadian Borrower. The sole obligation of the Operating each Fronting Lender, the Fronting Lenders, the U.S. Facility Fronting Lender and the Agent and the Syndicated Facility Lenders with respect to Letters of Credit is to cause to be paid a Draft drawn or purporting to be drawn in accordance with the terms of the 31150487.8 applicable Letter of Credit and for such purpose the Operating Lender, the relevant Fronting Lender, the U.S. Facility each Fronting Lender or the Agent, as the case may be, is only obliged to determine that the Draft purports to comply with the terms and conditions of the relevant Letter of Credit. The Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Syndicated Facility Lenders shall not have any responsibility or liability for or any duty to inquire into the formform (other than to the extent provided in the preceding paragraph), sufficiency (other than to the extent provided in the preceding paragraph), authorization, execution, signature, endorsement, correctness (other than to the extent provided in the preceding paragraph), genuineness or legal effect of any Draft, certificate or other document presented to it pursuant to a Letter of Credit and the Borrowers Canadian Borrower unconditionally assumes all risks with respect to the same. Each The Canadian Borrower agrees that it assumes all risks of the acts or omissions of the beneficiary of any Letter of Credit with respect to the use by such beneficiary of the relevant Letter of Credit. The Borrowers each Canadian Borrower further agree agrees that none of neither the Agent nor any Syndicated Facility Lender, including the any Fronting Lenders, the U.S. Facility Fronting Lender and the Operating Lender, nor any of their respective officers, directors or correspondents will assume liability for, or be responsible for:

No Obligation to Inquire. Each Borrower Nexen hereby acknowledges and confirms to each of the Operating LenderFronting Lenders, the Canadian Agent and the Canadian Facility Lenders that the Fronting Lenders, the U.S. Facility Fronting Lender, the Canadian Agent and the Lenders that the Operating Lender, the Fronting Lenders, the U.S. Canadian Facility Fronting Lender, the Agent and the Lenders shall not be obliged to make any inquiry or investigation as to the right of any beneficiary to make any claim or Draft draft or request any payment under a Letter of Credit and payment pursuant to a Letter of Credit shall not be withheld by reason of any matters in dispute between the beneficiary thereof and the applicable BorrowerNexen. The sole obligation of the Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender and the Canadian Agent and the Canadian Facility Lenders with respect to Letters of Credit is to cause to be paid a Draft draft drawn or purporting to be drawn in accordance with the terms of the 31150487.8 applicable Letter of Credit and for such purpose the Operating Lender, the relevant Fronting Lender, the U.S. Facility Fronting Lender or Canadian Agent, as the case may be, is only obliged to determine that the Draft purports to comply complies with the terms and conditions of the relevant Letter of Credit. The Operating Lender, the Fronting Lenders, the U.S. Facility Fronting Lender, the Canadian Agent and the Canadian Facility Lenders shall not have any responsibility or liability for or any duty to inquire into the form, sufficiency (other than to the extent provided in the last sentence of the immediately preceding paragraphparagraph and except with respect to their gross negligence or wilful misconduct or payment under a Letter of Credit other than in substantial compliance therewith), authorization, execution, signature, endorsement, correctness (other than to the extent provided in the last sentence of the immediately preceding paragraphparagraph and except with respect to their gross negligence or wilful misconduct or payment under a Letter of Credit other than in substantial compliance therewith), genuineness or legal effect of any Draft, certificate or other document presented to it pursuant to a Letter of Credit and the Borrowers Nexen unconditionally assumes all risks with respect to the same. Each Borrower Nexen agrees that it assumes all risks of the acts or omissions of the beneficiary of any Letter of Credit with respect to the use by such beneficiary of the relevant Letter of Credit. The Borrowers each Nexen further agree that none agrees (other than to the extent provided in the last sentence of the immediately preceding paragraph and except with respect to their gross negligence or wilful misconduct or payment under a Letter of Credit other than in substantial compliance therewith) that neither the Canadian Agent nor any Canadian Facility Lender, including the any Fronting Lenders, the U.S. Facility Fronting Lender and the Operating Lender, nor any of their respective officers, directors or correspondents will assume liability for, or be responsible for:

No Obligation to Inquire. Each Borrower hereby acknowledges and confirms to each of the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders that the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not be obliged to make any inquiry or investigation as to the right of any beneficiary to make any claim or Draft or request any payment under a Letter of Credit and payment pursuant to a Letter of Credit shall not be withheld by reason of any matters in dispute between the beneficiary thereof and the applicable Borrower. The sole obligation of the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender and the Agent and the Lenders with respect to Letters of Credit is to cause to be paid a Draft drawn or purporting to be drawn in accordance with the terms of the 31150487.8 applicable Letter of Credit and for such purpose the relevant Operating Lender, the relevant Fronting Lender, the U.S. Facility Fronting Lender or Agent, as the case may be, is only obliged to determine that the Draft purports to comply with the terms and conditions of the relevant Letter of Credit. The Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not have any responsibility or liability for or any duty to inquire into the form, sufficiency (other than to the extent provided in the preceding paragraph), authorization, execution, signature, endorsement, correctness (other than to the extent provided in the preceding paragraph), genuineness or legal effect of any Draft, certificate or other document presented to it pursuant to a Letter of Credit and the Borrowers unconditionally assumes all risks with respect to the same. Each Borrower agrees that it assumes all risks of the acts or omissions of the beneficiary of any Letter of Credit with respect to the use by such beneficiary of the relevant Letter of Credit. The Borrowers each further agree that none of the Agent nor any Lender, including the Fronting Lenders, the U.S. Facility Fronting Lender and the Operating LenderLenders, nor any of their respective officers, directors or correspondents will assume liability for, or be responsible for:

No Obligation to Inquire. Each Borrower hereby acknowledges and confirms to each of the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders that the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not be obliged to make any inquiry or investigation as to the right of any beneficiary to make any claim or Draft or request any payment under a Letter of Credit and payment pursuant to a Letter of Credit shall not be withheld by reason of any matters in dispute between the beneficiary thereof and the applicable Borrower. The sole obligation of the Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender and the Agent and the Lenders with respect to Letters of Credit is to cause to be paid a Draft drawn or purporting to be drawn in accordance with the terms of the 31150487.8 applicable Letter of Credit and for such purpose the relevant Operating Lender, the relevant Fronting Lender, the U.S. Facility Fronting Lender or Agent, as the case may be, is only obliged to determine that the Draft purports to comply with the terms and conditions of the relevant Letter of Credit. The Operating LenderLenders, the Fronting Lenders, the U.S. Facility Fronting Lender, the Agent and the Lenders shall not have any responsibility or liability for or any duty to inquire into the form, sufficiency (other than to the extent provided in the preceding paragraph), authorization, execution, signature, endorsement, correctness (other than to the extent provided in the preceding paragraph), genuineness or legal effect of any Draft, certificate or other document presented to it pursuant to a Letter of Credit and the Borrowers unconditionally assumes all risks with respect to the same. Each Borrower agrees that it assumes all risks of the acts or omissions of the beneficiary of any Letter of Credit with respect to the use by such beneficiary of the relevant Letter of Credit. The Borrowers each further agree that none of the Agent nor any Lender, including the Fronting Lenders, the U.S. Facility Fronting Lender and the Operating LenderLenders, nor any of their respective officers, directors or correspondents will assume liability for, or be responsible for: