Common use of Responsibility of Administrative Agent Clause in Contracts

Responsibility of Administrative Agent. It is expressly understood and agreed that the obligations of the Administrative Agent hereunder to the Lenders are only those expressly set forth in this Agreement and the other Credit Documents and that the Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing unless the Administrative Agent has actual knowledge of such fact or has received notice from a Lender or a Borrower that such Lender or such Borrower consider that a Default or an Event of Default has occurred and is continuing and specifying the nature thereof.

Responsibility of Administrative Agent. It is expressly understood and agreed that the obligations of the Administrative Agent hereunder to the Lenders are only those expressly set forth in this Agreement and the other Credit Documents and that the Administrative Agent shall be entitled to assume that no Default or Event of Default has occurred and is continuing unless the Administrative Agent has actual knowledge of such fact or has received notice from a Lender or a the Borrower that such Lender or such the Borrower consider considers that a Default or an Event of Default has occurred and is continuing and specifying the nature thereof.