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<br />Participant to any such modification, amendment or waiver, and shall not receive a <br />denial thereof from the Participant within ten (10) business days of the Originator <br />after making such request, then the Participant shall be deemed to have given such <br />consent. The Participant shall not have, and shall not assert or seek to exercise, any <br />right of legal redress against the Borrower or any guarantor in respect of any of <br />Equipment Loan I, Equipment Note I or its Participations, except its right of set~off as <br />provided in Paragraph IV. <br /> <br />b. The Originator will use reasonable steps to notify the Participant of <br />the occurrence of any payment default or of any other event of default with respect <br />to which it has received formal notice from the Borrower under Equipment Note I, <br />but no failure to give the Participant any such notice shall result in any liability on <br />the part of the Originator to the Participant. <br /> <br />c. The Originator will follow its normal lending and banking practices <br />for similar extensions of credit of similar amounts in which the Originator has not <br />sold participations in the servicing and collection of Equipment Loan I and in the <br />performance and enforcement of the terms of Equipment Note I, but the Originator <br />assumes no responsi'~ility for the repayment Equipment Loan I. The Originator <br />shall not be liable for any loss or damage resulting from any error of judgment or <br />from taking or refusing to take any action unless resulting from gross negligence or <br />willful misconduct. Without limitation of the generality of the foregoing, the <br />Originator (i) may consult with legal counsel (including counsel for the Borrower), <br />independent public accountants and other experts selected by the Originator, and <br />shall not be liable for any action taken or omitted to be taken in good faith by the <br />Originator in accordance with the advice of such counsel, accountants or experts; (ii) <br />may employ agents and attorneys-in-fact and shall not be answerable, except as to <br />money or securities received by it or its authorized agents, for the default or <br />misconduct of any such agents or attorneys-in-fact selected by it with reasonable care <br />after appropriate investigation; (iii) makes no warranty or representation and shall <br />not be responsible for any statement, warranty or representation made in or in <br />connection with Equipment Note I or any document relative thereto or for the <br />financial condition of the Borrower or any guarantor; (iv) shall not be responsible <br />for the performance or observance of any of the terms, covenants or conditions of <br />Equipment Note I on the part of the Borrower and shall not have any duty to <br />inspect any collateral for the Borrower's obligations under Equipment Loan I or the <br />property (including the books and records) of the Borrower or any guarantor; (v) <br />makes no warranty Of representation and shall not be responsible for the legality, <br />validity, perfection, priority, enforceability, genuineness, sufficiency or collectability <br />of Equipment Note I or any document relative thereto; and (vi) shall incur no <br />liability under or in respect of Equipment Note I or any related document by acting <br />upon any notice, consent, certificate or other instrument or writing (which may be <br />by telefacsimile, telegram, cable or telex) believed by the Originator to be genuine <br />and correct and signed or sent by the proper party. <br /> <br />-6- <br />