Common use of Agent Has No Duty Clause in Contracts

Agent Has No Duty. In addition to, and not in limitation of, Section 2.4, the powers conferred on Agent hereunder are solely to protect their interests (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, Agent shall not have any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 4 contracts

Samples: Security Agreement (Packaged Ice Inc), Security Agreement (Packaged Ice Inc), Security Agreement (Packaged Ice Inc)

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Agent Has No Duty. In addition to, and not in limitation of, Section 2.4, the powers conferred on the Agent hereunder are solely to protect their interests its interest (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 4 contracts

Samples: Credit Agreement (Novamed Inc), Credit Agreement (Novamed Inc), Assignment and Security Agreement (Calpine Corp)

Agent Has No Duty. In addition to, and not in limitation of, Section 2.4, the The powers conferred on the Agent hereunder are solely to protect their interests (on behalf of the Lender Secured Parties) ' interest in the Collateral and shall not impose any duty on upon it to exercise any such powers. Except for reasonable care of any Collateral in its possession duties imposed by the U.C.C. upon secured creditors (unless otherwise modified hereby), the Agent and the accounting for moneys actually received by it hereunder, Agent other Secured Parties shall not have any no duty as to any Collateral or as to the responsibility for taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 3 contracts

Samples: Credit Agreement (Windmere Durable Holdings Inc), Security Agreement (Delta Beverage Group Inc), Credit Agreement (Delta Beverage Group Inc)

Agent Has No Duty. In addition to, and not in limitation of, Section SECTION 2.4, the powers conferred on the Agent hereunder are solely to protect their interests its interest (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Subsidiary Security Agreement (Aristotle Corp), Security Agreement (Aristotle Corp)

Agent Has No Duty. In addition to, and not in limitation of, Section 2.42.5, the powers conferred on the Agent hereunder are solely to protect their interests its interest (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Security Agreement (Key Components Finance Corp), Security Agreement (Key Components Finance Corp)

Agent Has No Duty. In addition to, and not in limitation of, Section 2.4, the powers conferred on Agent hereunder are solely to protect their interests (on behalf of the Lender PartiesBanks) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, Agent shall not have any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Security Agreement (Lancer Corp /Tx/), Security Agreement (Lancer Corp /Tx/)

Agent Has No Duty. In addition to, and not in limitation of, Section 2.4SECTION 2.5, the powers conferred on the Agent hereunder are solely to protect their interests its interest (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Guarantor Security Agreement (Key Components LLC), Security Agreement (Key Components LLC)

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Agent Has No Duty. In addition to, and not in limitation of, Section SECTION 2.4, the powers conferred on the Agent hereunder are solely to protect their interests its interest (on behalf of the Lender Secured Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Leiner Health Products Inc)

Agent Has No Duty. In addition to, and not in limitation of, Section 2.4, the powers conferred on Agent hereunder are solely to protect their interests (on behalf of the Lender Parties) Agent's interest in the Collateral and shall not impose any duty on it to exercise any such powers. Except for the reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, Agent shall not have any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Stratosphere Corp)

Agent Has No Duty. In addition to, and not in limitation of, ----------------- Section 2.4, the powers conferred on the Agent hereunder are solely to protect their interests ----------- its interest (on behalf of the Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for reasonable care of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have any no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Credit Agreement (Aristotle Corp)

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