Common use of Reliance on Agent Clause in Contracts

Reliance on Agent. All acts of and communications by Agent, as agent for the Banks, shall be deemed legally conclusive and binding on the Banks; and Borrower or any third party (including any court) shall be entitled to rely on any and all communications or acts of Agent with respect to the exercise of any rights or the granting of any consent, waiver or approval on behalf of Banks or the Required Banks in all circumstances where an action by Banks or the Required Banks is required or permitted pursuant to this Agreement or the provisions of any other Loan Document or by applicable Legal Requirements without the right or necessity of making any inquiry of any individual Bank as to the authority of Agent with respect to such matter. In no event shall any of the foregoing limit the rights or obligations of any Bank with respect to any other Bank pursuant to this Article 13. Each Bank acknowledges and agrees for the benefit of Agent and Borrower that Agent shall be, and Borrower shall be entitled to deal with Agent as, the exclusive representative of the Banks on all matters relating to the Loan, this Agreement and each of the other Loan Documents.

Reliance on Agent. All acts of and communications by Agent, as agent for the BanksLenders, shall be deemed legally conclusive and binding on the BanksLenders; and Borrower or any third party (including any court) shall be entitled to rely on any and all communications or acts of Agent with respect to the exercise of any rights or the granting of any consent, waiver or approval on behalf of Banks Lenders or the Required Banks Lenders in all circumstances where an action by Banks Lenders or the Required Banks Lenders is required or permitted pursuant to this Agreement or the provisions of any other Loan Document or by applicable Legal Requirements without the right or necessity of making any inquiry of any individual Bank Lender as to the authority of Agent with respect to such matter. In no event shall any of the foregoing limit the rights or obligations of any Bank Lender with respect to any other Bank Lender pursuant to this Article 1312. Each Bank Lender acknowledges and agrees for the benefit of Agent and Borrower that Agent shall be, and Borrower ▇▇▇▇▇▇▇▇ shall be entitled to deal with Agent as, the exclusive representative of the Banks Lenders on all matters relating to the Loan, this Agreement and each of the other Loan Documents.