Common use of Administrative Agent’s Obligations and Duties Clause in Contracts

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor thereunder. Neither the Administrative Agent nor any Secured Party shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party be obligated in any manner to perform any of the obligations of such Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party may be entitled at any time or times. The Administrative Agent’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor of the Borrowers shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor Borrower thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Security Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor Borrower under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State of New York or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own accountaccount and as otherwise required by law.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor shall remain obligated and liable under each contract contract, agreement or agreement instrument comprised in the Collateral to be observed or performed by such Grantor thereunder. Neither the Administrative Agent nor any The Secured Party or any agent thereof shall not have any obligation or liability under any such contract contract, agreement or agreement instrument by reason of or arising out of this Security Agreement or the receipt by the Administrative Agent or any Secured Party of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party or agent thereof be obligated in any manner to perform any of the obligations of such any Grantor under or pursuant to any such contract contract, agreement or agreementinstrument, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract contract, agreement or agreementinstrument, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent Secured Party or to which the Administrative Agent or any Secured Party may be entitled at any time or times. The Administrative Agent’s sole duty of the Secured Party or any agent thereof with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State NYUCC or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent Secured Party or such agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor thereunder. Neither the Administrative Agent nor any other Secured Party shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any other Secured Party of any payment relating to any of the Collateral, nor shall the Administrative Agent or any other Secured Party be obligated in any manner to perform any of the obligations of such any Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any other Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any other Secured Party may be entitled at any time or times. The Administrative Agent’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor the Grantors shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor thereunder. Neither None of the Administrative Agent nor any Secured Party shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party be obligated in any manner to perform any of the obligations of such any Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party may be entitled at any time or times. The Administrative Agent’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State UCC or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor Company thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor any Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor the Company thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor Company thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor any Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent Agent, or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9(S)9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor Assignor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by any such Grantor Assignor thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor any Assignor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.

Administrative Agent’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor Company thereunder. Neither the Administrative Agent nor any Secured Party Lender shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Secured Party Lender of any payment relating to any of the Collateral, nor shall the Administrative Agent or any Secured Party Lender be obligated in any manner to perform any of the obligations of such Grantor any Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Administrative Agent or any Secured Party Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Administrative Agent or to which the Administrative Agent or any Secured Party Lender may be entitled at any time or times. The Administrative Agent’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Administrative Agent deals with similar property for its own account.