Common use of Action or Inaction Clause in Contracts

Action or Inaction. Except as provided at law, no action or omission on the part of any Lender in exercising or failing to exercise its rights under this Article 8 or in connection with or arising from all or part of the Guaranteed Obligations will make the Lenders liable to any Borrower or the Guarantor for any loss occasioned to such Borrower or the Guarantor.

Appears in 2 contracts

Sources: Credit Agreement (Brookfield Asset Management Reinsurance Partners Ltd.), Credit Agreement (Brookfield Asset Management Inc.)

Action or Inaction. Except as provided at lawLaw, no action or omission on the part of any Lender the Lenders in exercising or failing to exercise its their rights under this Article 8 or in connection with or arising from all or part of the Guaranteed Obligations will make the Lenders liable to any Borrower or the Guarantor Obligor for any loss occasioned to such Borrower or the GuarantorObligor.

Appears in 1 contract

Sources: Credit Agreement (Brookfield Business Partners L.P.)

Action or Inaction. Except as provided at lawLaw, no action or omission on the part of any Lender in exercising or failing to exercise its rights under this Article 8 or in connection with or arising from all or part of the Guaranteed Obligations will make the Lenders liable to any Borrower or the Guarantor for any loss occasioned to such Borrower or the Guarantor.

Appears in 1 contract

Sources: Credit Agreement (Brookfield Wealth Solutions Ltd.)