Common use of SPECIFIC NOTICE Clause in Contracts

SPECIFIC NOTICE. IT IS EXPRESSLY AGREED AND UNDERSTOOD THAT THIS GUARANTY INCLUDES INDEMNIFICATION PROVISIONS WHICH, IN CERTAIN CIRCUMSTANCES, COULD INCLUDE AN INDEMNIFICATION BY THE GUARANTORS OF ADMINISTRATIVE AGENT FROM CLAIMS OR LOSSES ARISING AS A RESULT OF THE ADMINISTRATIVE AGENT’S OWN NEGLIGENCE BUT NOT AS A RESULT OF THE ADMINISTRATIVE AGENT’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT TO THE EXTENT THAT ANY SUCH GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IS DETERMINED BY THE FINAL JUDGMENT OF A COURT OF COMPETENT JURISDICTION, NOT SUBJECT TO FURTHER APPEAL, IN PROCEEDINGS TO WHICH THE ADMINISTRATIVE AGENT IS A PROPER PARTY.