Common use of Agent’s Duties Clause in Contracts

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, or powers pertaining to the Collateral.

Appears in 2 contracts

Samples: Security Agreement (Hispanic Express Inc), Security Agreement (Central Financial Acceptance Corp)

AutoNDA by SimpleDocs

Agent’s Duties. Notwithstanding any provision contained in -------------- this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Guarantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Micron Technology Inc), Revolving Credit Agreement (Micron Technology Inc)

Agent’s Duties. Notwithstanding any provision contained in -------------- this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Company or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Micron Technology Inc), Revolving Credit Agreement (Micron Technology Inc)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Borrower or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Credit Agreement (California Microwave Inc)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to the Grantors or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and Except for the accounting for moneys actually received by the Agent hereunderhereunder or in connection herewith, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Intellectual Property Collateral.

Appears in 1 contract

Samples: Credit Agreement (Read Rite Corp /De/)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors any Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's ’s possession and the accounting for moneys actually received by the Agent hereunderhereunder and as otherwise required by applicable law, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Security Agreement (Adma Biologics, Inc.)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, but subject to the following sentence, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors any Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Lodgenet Entertainment Corp)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the no Agent shall have no a duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Company or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the any Agent's ’s possession and the accounting for moneys actually received by the any Agent hereunder, the no Agent shall have no any duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Security Agreement (Par Pacific Holdings, Inc.)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Pledgors or the Banks or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral in the Agent's possession while held hereunder and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Pledged Collateral.

Appears in 1 contract

Samples: Credit Agreement (Read Rite Corp /De/)

AutoNDA by SimpleDocs

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Subsidiary or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Credit Agreement (California Microwave Inc)

Agent’s Duties. Notwithstanding any provision -------------- contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors any Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Security Agreement (Mail Well Inc)

Agent’s Duties. Notwithstanding any provision contained in this -------------- Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors the Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Security Agreement (Flir Systems Inc)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors Borrower or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Certified Grocers of California LTD)

Agent’s Duties. Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it and shall not be responsible to Grantors any Grantor or the Banks or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent's possession and the accounting for moneys actually received by the Agent hereunder, the Agent shall have no duty or liability to exercise or preserve any rights, privileges, privileges or powers pertaining to the Collateral.

Appears in 1 contract

Samples: Credit Agreement (Read Rite Corp /De/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!