Verbal Instructions. Notwithstanding any other provision herein regarding the delivery of notices by a Borrower, the Agent shall in its sole discretion be entitled to act upon the verbal instructions of the Relevant Borrower, or any Person reasonably believed by the Agent to be a Person authorized by the Relevant Borrower to give instructions, regarding any request for a Drawdown, Conversion or Rollover. All such verbal instructions shall be at the risk of the Relevant Borrower and must be confirmed in writing by the Relevant Borrower forthwith after the verbal instruction is given. The Agent shall not be responsible for any error or omission in such instructions or in the performance thereof except in the case of gross negligence or willful misconduct by the Agent.
Appears in 2 contracts
Sources: Loan Agreement (Gerdau Usa Inc), Loan Agreement (Gerdau Ameristeel Corp)