Wells Fargo Bank National Ass'n v. Webster Business Credit Corp.

*514In this action between lenders to a single borrower, plaintiffs seek to recover damages they allegedly sustained as a result of, among other things, the borrower’s inability to pay amounts due under a credit agreement that provided the borrower with a loan and a revolving credit facility. In August 2007, plaintiffs and defendant, collectively as lenders, entered into a credit agreement with the borrower. The credit agreement not only defined the scope of the lenders’ indemnification duties to each other, but also gave plaintiffs the power to appoint defendant, who was a nonsignatory to the…