Common use of FURTHER RESPONSIBILITIES Clause in Contracts

FURTHER RESPONSIBILITIES. It is not necessary for any member of the Bank Group to inquire into the capacity or powers of the Borrowers or the officers, directors, partners or agents acting or purporting to act on their behalf, and any Obligations made or created in reliance upon the professed exercise of such powers shall be guaranteed hereunder. Each Guarantor assumes all responsibility for being and keeping itself informed of the other Borrowers' financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and extent of the risks which each Guarantor assumes and incurs hereunder, and agrees that no member of the Bank Group shall have any duty to advise either Guarantor of information known to them regarding such circumstances or risks.