Not in Control. Nothing in any Loan Document shall, or shall be deemed to (a) give Administrative Agent or any Lender the Right to exercise control over the assets (including real property), affairs, or management of Borrower or Guarantor, (b) preclude or interfere with compliance by Borrower or Guarantor thereof with any Law (including Environmental Law or Environmental Requirements), or (c) require any act or omission by Borrower or Guarantor thereof that may be harmful to Persons or property. Any "Material Adverse Event" or other materiality qualifier in any representation, warranty, covenant, or other provision of any Loan Document is included for credit documentation purposes only and shall not, and shall not be deemed to, mean that Administrative Agent or any Lender acquiesces in any non-compliance by Borrower or Guarantor with any Law or document, or that Administrative Agent or any Lender does not expect the Borrower or Guarantor to promptly, diligently, and continuously carry out all appropriate removal, remediation, restoration and termination activities required or appropriate in accordance with all Environmental Laws and Environmental Requirements. The Administrative Agent and the Lenders have no fiduciary relationship with or fiduciary duty to Borrower or Guarantor arising out of or in connection with the Loan Documents, and the relationship between the Administrative Agent and the Lenders, on the one hand, and Borrower or Guarantor, on the other hand, in connection with the Loan Documents is solely that of debtor and creditor. The power of the Administrative Agent and Lenders under the Loan Documents is limited to the Rights provided in the Loan Documents, which Rights exist solely to assure payment and performance of the Obligation and may be exercised in a manner calculated by the Administrative Agent and Lenders in their respective good faith business judgment.
Appears in 1 contract
Sources: Senior Secured Term Loan Agreement (America West Holdings Corp)
Not in Control. Nothing in any Loan Document Paper shall, or shall be deemed to (a) give Administrative Agent Agent, any Agent, or any Facility A Lender the Right to exercise control over the assets (including real property), affairs, or management of Borrower or Guarantorany Consolidated Company, (b) preclude or interfere with compliance by Borrower or Guarantor thereof any Consolidated Company with any Law (including Environmental Law or Environmental Requirements)Law, or (c) require any act or omission by Borrower or Guarantor thereof any Consolidated Company that may be harmful to Persons or property. Any "Material Adverse Event" or other materiality qualifier in any representation, warranty, covenant, or other provision of any Loan Document Paper is included for credit documentation purposes only and shall not, and shall not be deemed to, mean that Administrative Agent Agent, any Agent, or any Facility A Lender acquiesces in any non-compliance by Borrower or Guarantor any Consolidated Company with any Law or document, or that Administrative Agent Agent, any Agent, or any Facility A Lender does not expect the Borrower or Guarantor Consolidated Companies to promptly, diligently, and continuously carry out all appropriate removal, remediation, restoration and termination activities required or appropriate in accordance with all Environmental Laws and Environmental RequirementsLaws. The Neither the Administrative Agent and the Lenders have no nor any Facility A Lender has any fiduciary relationship with or fiduciary duty to Borrower or Guarantor any Consolidated Company arising out of or in connection with the Loan DocumentsPapers, and the relationship between the Administrative Agent and the Facility A Lenders, on the one hand, and Borrower or GuarantorBorrower, on the other hand, in connection with the Loan Documents Papers is solely that of debtor and creditor. The power of the Administrative Agent Facility A Agents and Lenders under the Loan Documents Papers is limited to the Rights provided in the Loan DocumentsPapers, which Rights exist solely to assure payment and performance of the Obligation and may be exercised in a manner calculated by the Administrative Agent Facility A Agents and Lenders in their respective good faith business judgment.
Appears in 1 contract
Sources: Facility a Revolving Credit Agreement (Worldcom Inc /Ga/)
Not in Control. Nothing in any Loan Document shall, or shall be deemed to (a) give Administrative any Agent or any Lender the Right to exercise control over the assets (including real property), affairs, or management of Borrower any Loan Party or Guarantorany Subsidiary thereof, (b) preclude or interfere with compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law (including Environmental Law or Environmental Requirements)Law, or (c) require any act or omission by Borrower any Loan Party or Guarantor any Subsidiary thereof that may be harmful to Persons or property. Any "Material Adverse EventMATERIAL ADVERSE EVENT" or other materiality qualifier in any representation, warranty, covenant, or other provision of any Loan Document is included for credit documentation purposes only and shall not, and shall not be deemed to, mean that Administrative any Agent or any Lender acquiesces in any non-compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law or document, or that Administrative any Agent or any Lender does not expect the Borrower or Guarantor Loan Parties and their respective Subsidiaries to promptly, diligently, and continuously carry out all appropriate removal, remediation, restoration and termination activities required or appropriate in accordance with all Environmental Laws and Environmental RequirementsLaws. The Administrative Agent Agents and the Lenders have no fiduciary relationship with or fiduciary duty to Borrower any Loan Party or Guarantor any Subsidiary thereof arising out of or in connection with the Loan Documents, and the relationship between the Administrative Agent Agents and the Lenders, on the one hand, and Borrower or GuarantorLoan Parties and their Subsidiaries, on the other hand, in connection with the Loan Documents is solely that of debtor and creditor. The power of the Administrative Agent Agents and Lenders under the Loan Documents is limited to the Rights provided in the Loan Documents, which Rights exist solely to assure payment and performance of the Obligation and may be exercised in a manner calculated by the Administrative Agent Agents and Lenders in their respective good faith business judgment.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (Dobson Communications Corp)
Not in Control. Nothing in any Loan Document shall, or shall be deemed to (a) give the Administrative Agent or any Lender the Right to exercise control over the assets (including real property), affairs, or management of Borrower any Loan Party or Guarantorany Subsidiary thereof, (b) preclude or interfere with compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law (including Environmental Law or Environmental Requirements)Law, or (c) require any act or omission by Borrower any Loan Party or Guarantor any Subsidiary thereof that may be harmful to Persons or property. Any "Material Adverse Event" or other materiality qualifier in any representation, warranty, covenant, or other provision of any Loan Document is included for credit documentation purposes only and shall not, and shall not be deemed to, mean that the Administrative Agent or any Lender acquiesces in any non-compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law or document, or that the Administrative Agent or any Lender does not expect the Borrower or Guarantor Loan Parties and their respective Subsidiaries to promptly, diligently, and continuously carry out all appropriate removal, remediation, restoration and termination activities required or appropriate in accordance with all Environmental Laws and Environmental RequirementsLaws. The Administrative Agent and the Lenders have no fiduciary relationship with or fiduciary duty to Borrower any Loan Party or Guarantor any Subsidiary thereof arising out of or in connection with the Loan Documents, and the relationship between the Administrative Agent and the Lenders, on the one hand, and Borrower or GuarantorLoan Parties and their Subsidiaries, on the other hand, in connection with the Loan Documents is solely that of debtor and creditor. The power of the Administrative Agent and Lenders under the Loan Documents is limited to the Rights provided in the Loan Documents, which Rights exist solely to assure payment and performance of the Obligation and may be exercised in a manner calculated by the Administrative Agent and Lenders in their respective good faith business judgment.
Appears in 1 contract
Sources: Revolving Credit Agreement (Dobson Communications Corp)
Not in Control. Nothing Except with respect to the Letter of Credit Cash Collateral Account, nothing in any Loan Document shall, or shall be deemed to (a) give Administrative Agent or any Lender the Right to exercise control over the assets (including real property), affairs, or management of Borrower any Loan Party or Guarantorany Subsidiary thereof, (b) preclude or interfere with compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law (including Environmental Law or Environmental Requirements)Law, or (c) require any act or omission by Borrower any Loan Party or Guarantor any Subsidiary thereof that may be harmful to Persons or property. Any "Material Adverse Event" or other materiality qualifier in any representation, warranty, covenant, or other provision of any Loan Document is included for credit documentation purposes only and shall not, and shall not be deemed to, mean that Administrative Agent or any Lender acquiesces in any non-compliance by Borrower any Loan Party or Guarantor any Subsidiary thereof with any Law or document, or that Administrative Agent or any Lender does not expect the Borrower or Guarantor Loan Parties and their respective Subsidiaries to promptly, diligently, and continuously carry out all appropriate removal, remediation, restoration and termination activities required or appropriate in accordance with all Environmental Laws and Environmental RequirementsLaws. The Administrative Agent and the Lenders have no fiduciary relationship with or fiduciary duty to Borrower any Loan Party or Guarantor any Subsidiary thereof arising out of or in connection with the Loan Documents, and the relationship between the Administrative Agent and the Lenders, on the one hand, and Borrower or GuarantorLoan Parties, on the other hand, in connection with the Loan Documents is solely that of debtor and creditor. The power of the Administrative Agent and Lenders under the Loan Documents is limited to the Rights provided in the Loan Documents, which Rights exist solely to assure payment and performance of the Obligation and may be exercised in a manner calculated by the Administrative Agent and Lenders in their respective good faith business judgment.
Appears in 1 contract
Sources: Revolving Credit Agreement (Northern Border Partners Lp)