Common use of No Reliance on Agent Clause in Contracts

No Reliance on Agent. Neither Agent nor any of its officers, directors, employees or agents (including, but not limited to, any attorneys acting at the direction or on behalf of Agent) shall be deemed to have made any representations or warranties, express or implied, with respect to, nor shall Agent or any such officer, director, employee or agent be liable to ▇▇▇▇, FMC or Owner or responsible for (i) any warranties or recitals made by any party (other than Agent) in this Deposit and Security Agreement, nor in any certificate, instrument or document executed by any party (other than Agent) in connection therewith, (ii) the due or proper execution or authorization of this Deposit and Security Agreement by any party other than Agent, or the effectiveness, enforceability, validity, genuineness or collectibility as against any party (other than Agent) of this Deposit and Security Agreement, nor of any certificate, instrument or document executed by any of the parties (other than Agent) in connection therewith, (iii) the present or future solvency or financial worth of any party, or (iv) subject to Section 12 hereof, the value, condition, existence or ownership of any of the Collateral or the perfection of any lien upon or security interest in the Collateral whether now or hereafter held or granted) or the sufficiency of any action, filing, notice or other procedure taken or to be taken to perfect, attach or vest any lien or security interest in the Collateral. Except as may be required by Section 11(b) hereof, Agent shall not be required, either initially or on a continuing basis, to (A) make any inquiry, investigation, evaluation or appraisal respecting, or enforce performance by any party of, any of the covenants contained in this Deposit and Security Agreement or obligations of any party under any certificate, instrument or document executed by any of the parties in connection therewith, or (B) undertake any other actions (other than actions expressly required to be taken by it under this Deposit and Security Agreement). Nothing in this Deposit and Security Agreement or any certificate, instrument or document executed by any of the parties in connection therewith, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations, duties or responsibilities except as set forth in this Deposit and Security Agreement and therein. Agent shall be protected in acting, and shall be entitled to rely upon, any notice, request, consent, certificate, order, affidavit, letter, telegram, telecopy or other paper or document given to it by any person reasonably and in good faith believed by it to be genuine and to have been signed or sent by such person. Agent shall have no duty to inquire as to the performance or observance of any of the terms, covenants or conditions of this Deposit and Security Agreement. Except upon the direction of Owner pursuant to Section 11(b) of this Deposit and Security Agreement, Agent will not be required to inspect the properties or books and records of any party for any purpose, including to determine compliance by the parties with their respective covenants respecting the perfection of security interests.

No Reliance on Agent. Neither Agent nor any of its officers, directors, employees or agents (including, but not limited to, any attorneys acting at the direction or on behalf of Agent) shall be deemed to have made any representations or warranties, express or implied, with respect to, nor shall Agent or any such officer, director, employee or agent be liable to ▇▇▇▇, FMC or any Owner or responsible for (i) any warranties or recitals made by any party (other than Agent) in this Deposit and Security Agreement, nor in any certificate, instrument or document executed by any party (other than Agent) in connection therewith, (ii) the due or proper execution or authorization of this Deposit and Security Agreement by any party other than Agent, or the effectiveness, enforceability, validity, genuineness or collectibility as against any party (other than Agent) of this Deposit and Security Agreement, nor of any certificate, instrument or document executed by any of the parties (other than Agent) in connection therewith, (iii) the present or future solvency or financial worth of any party, or (iv) subject to Section 12 hereof, the value, condition, existence or ownership of any of the Collateral or the perfection of any lien upon or security interest in the Collateral whether now or hereafter held or granted) or the sufficiency of any action, filing, notice or other procedure taken or to be taken to perfect, attach or vest any lien or security interest in the Collateral. Except as may be required by Section 11(b) hereof, Agent shall not be required, either initially or on a continuing basis, to (A) make any inquiry, investigation, evaluation or appraisal respecting, or enforce performance by any party of, any of the covenants contained in this Deposit and Security Agreement or obligations of any party under any certificate, instrument or document executed by any of the parties in connection therewith, or (B) undertake any other actions (other than actions expressly required to be taken by it under this Deposit and Security Agreement). Nothing in this Deposit and Security Agreement or any certificate, instrument or document executed by any of the parties in connection therewith, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations, duties or responsibilities except as set forth in this Deposit and Security Agreement and therein. Agent shall be protected in acting, and shall be entitled to rely upon, acting upon any notice, request, consent, certificate, order, affidavit, letter, telegram, telecopy or other paper or document given to it by any person reasonably and in good faith believed by it to be genuine and correct and to have been signed or sent by such person. Agent shall have no duty to inquire as to the performance or observance of any of the terms, covenants or conditions of this Deposit and Security Agreement. Except upon the direction of Owner Owners pursuant to Section 11(b) of this Deposit and Security Agreement, Agent will not be required to inspect the properties or books and records of any party for any purpose, including to determine compliance by the parties with their respective covenants respecting the perfection of security interests.