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

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 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 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 Agent hereunder or under the other Loan Documents, the 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 Agent.

Appears in 12 contracts

Samples: Credit Agreement (Outback Steakhouse Inc), Syndicated Credit Agreement (Winston Hotels Inc), Credit Agreement (Ryans Family Steakhouses Inc)

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 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 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 or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder or under the other Loan Documents, the 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 Agent.

Appears in 4 contracts

Samples: Credit Agreement (Cato Corp), Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 the Guarantors and decision to enter into this Agreement and that it will, independently and without reliance upon the 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 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 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 Agent hereunder or under the other Loan Documents, the 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 Borrowers or any other Person (or any of their Affiliates) which may come into the possession of the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 decision to enter into this Agreement and that it will, independently and without reliance upon the 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 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 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 Agent hereunder or under the other Loan Documents, the 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 Borrowers or any other Person (or any of their Affiliates) which may come into the possession of the Agent.

Appears in 2 contracts

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

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 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 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 Agent hereunder or under the other Loan Documents, the 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 Agent.Bank

Appears in 1 contract

Samples: Credit Agreement (Liberty Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the any 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 any 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 Agreement. None of the other Loan Documents. The Agent Agents 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 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 Agent hereunder or under Agents hereunder, none of the other Loan Documents, the Agent Agents 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) which that may come into the possession of the Agentsuch Agent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement (Forest Oil Corp)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 State, and its decision to enter into this Agreement and that it will, independently and without reliance upon the 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 Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower State of this Agreement or any of the other Loan Documents Related Document or any other document referred to or provided for herein or therein or to inspect the properties or books of the Borrower State. The Agent shall provide to each Bank a copy of each notice or any other Personcommunication that may be provided to the Agent under this Agreement. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder or under the other Loan Documentshereunder, the 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 State that may come into the possession of the AgentAgent or any of its affiliates.

Appears in 1 contract

Samples: Credit Agreement

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Non-Reliance on Agent and Other Banks. Each Bank agrees that it has received current financial information with respect to the Debtor and that it has, independently and without reliance on the Agent or any other Bank, Bank and based on such documents and information as it has deemed appropriate, made its own credit analysis of the Borrower Debtor and decision to enter into this Agreement and that it will, independently and without reliance upon the 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 Related Documents. The Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower any Person 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 Debtor or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks Bank by the Agent hereunder or under the other Loan Related Documents, the 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 Debtor or any other Person (or any of their Affiliates) which may come into the possession of the Agent.

Appears in 1 contract

Samples: Guaranty Agreement (Tanger Factory Outlet Centers Inc)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 each Loan Party and decision to enter into this Agreement and that it will, independently and without reliance upon the 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 Agent shall not be required to keep itself (or any Bank) informed as to the performance or observance by the Borrower any Loan Party 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 any Loan Party or any other Person. Except for notices, reports and other documents and information expressly required to be furnished to the Banks by the Agent hereunder or under the other Loan Documents, the 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 any Loan Party or any other Person (or any of their Affiliates) which may come into the possession of the Agent.

Appears in 1 contract

Samples: Credit Agreement (Woodward Governor Co)

Non-Reliance on Agent and Other Banks. Each Bank agrees that it has, independently and without reliance on the 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 each of its Subsidiaries and its decision to enter into the transactions contemplated by this Agreement and the other Loan Documents and that it will, independently and without reliance upon the 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. The 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 Document or to inspect the properties or books of the Borrower Parent or any other Personof its Subsidiaries. Except for notices, reports reports, and other documents and information expressly required to be furnished to the Banks by the Agent hereunder or under the other Loan Documentshereunder, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other information concerning the affairs, financial condition condition, or business of the Borrower Parent or any other Person of its Subsidiaries (or any of their Affiliates) which may come into the possession of the AgentAgent or any of its Affiliates.

Appears in 1 contract

Samples: Pledge Agreement (Southern Union Co)

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