Common use of Reliance on Substitution Certificate Clause in Contracts

Reliance on Substitution Certificate. The Administrative Agent, the Security Agent, the Lenders and the Borrower shall be fully entitled to rely on any Substitution Certificate delivered to the Administrative Agent in accordance with the foregoing provisions of this Clause 30 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Lender and the Substitute and neither the Administrative Agent, nor the Lenders 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 authorized.

Appears in 2 contracts

Sources: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)

Reliance on Substitution Certificate. The Administrative Agent, Agent (on behalf of itself and the Security Agent, the Lenders Trustee) and the Borrower Obligors shall be fully entitled to rely on any Substitution Certificate delivered to the Administrative Agent in accordance with the foregoing provisions of this Clause 30 clause 16 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Lender Existing Bank and the Substitute and neither none of the Administrative Agent, nor the Lenders nor Security Trustee and the Borrower Obligors 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 authorizedauthorised.

Appears in 1 contract

Sources: Facilities Agreement (Avecia Group PLC)

Reliance on Substitution Certificate. The Administrative Agent, the Security Agent, the Lenders Facility Agent and the Primary Borrower shall be fully entitled to rely on any Substitution Certificate delivered to the Administrative Facility Agent in accordance with the foregoing provisions of this Clause 30 clause 16 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Lender Existing Bank(s) and the Substitute Substitute(s) and neither none of the Administrative Agent, nor Facility Agent and the Lenders nor the Primary 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 authorizedauthorised.

Appears in 1 contract

Sources: Facility Agreement (Texas Utilities Electric Co)