Common use of Reliance on Substitution Certificate Clause in Contracts

Reliance on Substitution Certificate. The Facility Agent (on behalf of itself and the Security Agent) and the Borrowers shall be fully entitled to rely on any Substitution Certificate delivered to the Facility Agent in accordance with the foregoing provisions of this clause 16 which is complete and regular on its face as regards its contents and purportedly signed on behalf of the relevant Existing Bank(s) and the Substitute(s) and none of the Facility Agent, the Security Agent and the Borrowers shall have any liability or responsibility to any party as a consequence of placing reliance on and 81 - 80 - acting in accordance with any such Substitution Certificate if it proves to be the case that the same was not authentic or duly authorised.