Common use of Reliance on Substitution Certificate Clause in Contracts

Reliance on Substitution Certificate. The Agent, the Banks and the Borrower shall be fully entitled to rely on any Substitution Certificate delivered to the Agent in accordance with the foregoing provisions of this clause 15 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Bank and the Substitute and neither the Agent, nor the Banks nor the Borrower shall have any liability or responsibility to any party as a consequence of placing reliance on and acting in accordance with any such Substitution Certificate if it proves to be the case that the same was not authentic or duly authorised.

Appears in 5 contracts

Sources: Facilities Agreement (Aries Maritime Transport LTD), Facility Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.)

Reliance on Substitution Certificate. The Facility Agent, the Banks other Creditors and the Borrower Company shall be fully entitled to rely on any Substitution Certificate delivered to the Facility Agent in accordance with the foregoing provisions of this clause 15 16 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Bank Lender and the Substitute and neither the Facility Agent, nor the Banks Creditors nor the Borrower Company shall have any liability or responsibility to any party as a consequence of placing reliance on and acting in accordance with any such Substitution Certificate if it proves to be the case that the same was not authentic or duly authorised.

Appears in 5 contracts

Sources: Term Loan Facility Agreement (Danaos Corp), Term Loan Facility Agreement (Danaos Corp), Term Loan Facility Agreement (Danaos Corp)

Reliance on Substitution Certificate. The Agent, the Banks other Creditors and the Borrower Borrowers shall be fully entitled to rely on any Substitution Certificate delivered to the Agent in accordance with the foregoing provisions of this clause 15 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Bank and the Substitute and neither the Agent, nor the Banks other Creditors nor the Borrower Borrowers shall have any liability or responsibility to any party as a consequence of placing reliance on and acting in accordance with any such Substitution Certificate if it proves to be the case that the same was not authentic or duly authorised.

Appears in 1 contract

Sources: Loan Agreement (Mc Shipping Inc)

Reliance on Substitution Certificate. The Agent, the Banks Facility Agent and the Borrower shall be fully entitled to rely on any Substitution Certificate delivered to the Facility Agent in accordance with the foregoing provisions of this clause 15 23 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Existing Bank and the Substitute and neither none of the Agent, nor the Banks Facility Agent nor the Borrower shall have any liability or responsibility to any party as a consequence of placing reliance on and acting in accordance with any such Substitution Certificate if it proves to be the case that the same was not authentic or duly authorised.

Appears in 1 contract

Sources: Facility Agreement (Txu Corp /Tx/)