Common use of No Deemed Knowledge Clause in Contracts

No Deemed Knowledge. The Account Bank shall not be deemed to have notice or knowledge of any fact or matter, including the exercise of exclusive control by the Collateral Agent or an “Event of Default” or “Facility Maturity Date” under the Loan and Servicing Agreement, unless an officer of the Account Bank responsible for administration of this Agreement has actual knowledge of such matter or written notice thereof is received by such officer of the Account Bank. Notwithstanding anything herein to the contrary, the Account Bank shall not be obligated to take any action (or forbear from taking any action), which it reasonably determines to be contrary to the terms of this Agreement or applicable law.