Common use of Responsibility of Issuing Bank Clause in Contracts

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; PROVIDED, HOWEVER, that nothing set forth in this ARTICLE III shall be deemed to prejudice the right of any LC Lender to recover from the Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and ------------------------------ agreed that the obligations of the Issuing Bank hereunder to the LC Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVER-------- however, that nothing set forth in this ARTICLE III Section 2.16 shall be deemed to ------- prejudice the right of any LC Revolving Lender to recover from the Issuing Bank any amounts made available by such LC Revolving Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.16 in the event that it is determined by a court of competent jurisdiction that a payment by the payment Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower or the Administrative Agent that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section 2.2 shall be deemed to prejudice the right of any LC Lender to recover from the Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 3.2 have ----------- been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section ------- 2.2 shall be deemed to prejudice the right of any LC Lender to recover from the --- Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.2 in the event that it is determined by a court of ----------- competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Revolving Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 4.2 have been satisfied unless it shall have acquired actual knowledge that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section 2.16 shall be deemed to prejudice the right of any LC Revolving Lender to recover from the Issuing Bank any amounts made available by such LC Revolving Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.16 in the event that it is determined by a court of competent jurisdiction that a payment by the payment Issuing Bank with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 3.2 have ----------- been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the applicable Borrower that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section 2.2 shall be deemed to prejudice the right of any LC Lender to recover ----------- from the Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.2 in the event that it is determined by a court ----------- of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Section 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the applicable Borrower that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section 2.2 shall be deemed to prejudice the right of any LC Lender to recover from the Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.

Responsibility of Issuing Bank. It is expressly understood and agreed that the obligations of the Issuing Bank hereunder to the LC Lenders are only those expressly set forth in this Credit Agreement and that the Issuing Bank shall be entitled to assume that the conditions precedent set forth in ARTICLE III OR V Sections 3.2 have been satisfied as of the applicable Letter of Credit Date unless it shall have acquired actual knowledge been notified in writing by the Borrower or the Administrative Agent that any such condition precedent has not been satisfied; PROVIDEDprovided, HOWEVERhowever, that nothing set forth in this ARTICLE III Section 2.2 shall be deemed to prejudice the right of any LC Lender to recover from the Issuing Bank any amounts made available by such LC Lender to the Issuing Bank pursuant to this ARTICLE III Section 2.2 in the event that it is determined by a court of competent jurisdiction that the payment with respect to a Letter of Credit constituted gross negligence or willful misconduct on the part of the Issuing Bank.