Common use of Non-Reliance on Administrative Agent and Other Banks Clause in Contracts

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documents, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person (or any of their Affiliates) which may come into the possession of the Administrative Agent.

Appears in 5 contracts

Samples: Credit Agreement (Darden Restaurants Inc), Credit Agreement (Darden Restaurants Inc), Credit Agreement (Franklin Electric Co Inc)

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Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Loan Parties and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Loan Parties of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Borrowers or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documents, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Loan Parties or any other Person (or any of their Affiliates) which may come into the possession of the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Gladstone Commercial Corp)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Obligors and their Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documentsdocument contemplated by or referred to herein. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Obligors and their Subsidiaries of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other PersonObligors and their Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person Obligors and their Subsidiaries (or any of their Affiliates) which may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 2 contracts

Samples: Credit Agreement (Cablevisions System Corp /Ny), Credit Agreement (CSC Holdings Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Transaction Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Transaction Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Transaction Documents, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person (or any of their Affiliates) which may come into the possession of the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (American Capital Strategies LTD), Credit Agreement (American Capital Strategies LTD)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as Credit Agreement it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it hashas made and will continue to make, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and its own decision to enter into this Agreement and the other documents to which it is a party executed in connection herewith and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliates) or the Loan Documents which may come into the possession of the Administrative AgentAgent or any of its Affiliates.

Appears in 1 contract

Samples: Penncorp Financial (Penncorp Financial Group Inc /De/)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Basic Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower any Obligor of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Canandaigua Wine Co Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the Guarantor and its decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower or the Guarantor of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Borrower, the Guarantor or any other Personof their respective Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Borrower, the Guarantor or any other Person of their Subsidiaries (or any of their Affiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Bowater Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documents, the 42 44 Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person (or any of their Affiliates) which may come into the possession of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Piccadilly Cafeterias Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Loan Parties and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documents. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Loan Parties of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower Borrowers, Guarantors or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documents, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Loan Parties or any other Person (or any of their Affiliates) which may come into the possession of the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Scansource Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent Agent, Chase or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and the decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent Agent, Chase or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsDocument. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Documents Document or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower or any other PersonBorrower. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person (or any of their its Affiliates) which may come into the possession of the Administrative AgentAgent or any of its Affiliates. The Administrative Agent shall not be required to file this Agreement, any other Loan Document or any document or instrument referred to herein or therein, for record or give notice of this Agreement, any other Loan Document or any document or instrument referred to herein or therein, to anyone.

Appears in 1 contract

Samples: Credit Agreement (Boundless Corp)

Non-Reliance on Administrative Agent and Other Banks. Each ----------------------------------------------------- Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Provident Companies Inc /De/)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or under any of the other Loan DocumentsDocument. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for Credit Agreement 79 - 75 - notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Pledge Documents, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Fidelity National Financial Inc /De/)

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Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent, the Syndication Agent listed on the cover page of this Agreement or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition condition, operations, business, Properties, liabilities or business prospects of the Borrower or any other Person of its Subsidiaries (or any of their Affiliates) which that may come into the possession of the Administrative AgentAgent or any of its Affiliates.

Appears in 1 contract

Samples: Version Credit Agreement (Pitney Bowes Inc /De/)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent, the Syndication Agent listed on the cover page of this Agreement or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Borrowers of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition condition, operations, business, Properties, liabilities or business prospects of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliates) which that may come into the possession of the Administrative AgentAgent or any of its Affiliates. 10.07.

Appears in 1 contract

Samples: Version Credit Agreement (Pitney Bowes Inc /De/)

Non-Reliance on Administrative Agent and Other Banks. Each ---------------------------------------------------- Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Capital Re Corp)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and the Restricted Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan Documentsdocument contemplated by or referred to herein. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company and the Restricted Subsidiaries of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein Document or to inspect the properties or books of the Borrower or any other PersonCompany and the Restricted Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower or any other Person Company and the Restricted Subsidiaries (or any of their Affiliates) which may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (CSC Holdings Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Company and its Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Company of this Agreement or any of the other Loan Basic Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Company or any other Personof its Subsidiaries. Except for notices, ) reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition or business of the Borrower Company or any other Person of its Subsidiaries (or any of their Affiliatesaffiliates) which that may come into the possession of the Administrative AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Non-Reliance on Administrative Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the Administrative Agent Agent, or any other Bank, and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Borrowers and their Subsidiaries and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent Agent, or any other Bank, and based on such documents and information as it shall deem appropriate at the time, continue to make its own analysis and decisions in taking or not taking action under this Agreement or any of the other Loan DocumentsAgreement. The Administrative Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower Borrowers of this Agreement or any of the other Loan Documents or any other document referred to or provided for herein or therein or to inspect the properties Properties or books of the Borrower Borrowers or any other Personof their Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Administrative Agent hereunder or under the other Loan Documentshereunder, the Administrative Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition condition, operations, business, Properties, liabilities or business prospects of the Borrower Borrowers or any other Person of their Subsidiaries (or any of their Affiliates) which that may come into the possession of the Administrative AgentAgent or any of its Affiliates.

Appears in 1 contract

Samples: Credit Agreement (Xl Capital LTD)

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