Common use of Appointment and Duties of Collateral Agent Clause in Contracts

Appointment and Duties of Collateral Agent. (a) The Lenders hereby designate and appoint Citibank to act as the Collateral Agent hereunder and under the other Loan Documents, and each of the Lenders hereby authorizes Citibank as such Collateral Agent, to take such actions on its behalf hereunder and under the provisions of the other Loan Documents and to exercise such powers and perform such duties expressly delegated to the Collateral Agent hereunder and under the other Loan Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in the Loan Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the other Loan Documents, or any fiduciary relationship with any Lender, and no implied covenants, functions or responsibilities shall be read into the Loan Documents or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any Loan Document, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.

Appointment and Duties of Collateral Agent. (a) Subject to ------------------------------------------ Section 5.2 hereof, each Beneficiary hereby designates and appoints The Lenders hereby designate and appoint Citibank First National Bank of Chicago to act as the Collateral Agent hereunder and under the other Loan Documentsthis Agreement, and each of the Lenders Beneficiaries hereby authorizes Citibank The First National Bank of Chicago, as such the Collateral Agent, to take such actions on its behalf hereunder and under the provisions of the other Loan Documents this Agreement and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent hereunder and under by the other Loan Documentsterms of this Agreement, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in the Loan Lender Documents, Operative Agreements or the Company Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the other Loan Documents, or any fiduciary relationship with any Lenderthis Agreement, and no implied covenants, functions or responsibilities shall be read into the Loan Documents this Agreement or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any Loan Company Document, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.

Appointment and Duties of Collateral Agent. (a) The Lenders Secured Parties hereby designate and appoint Citibank Chemical to act as the Collateral Agent hereunder and under with respect to the other Loan Security Documents, and each of the Lenders Secured Parties hereby authorizes Citibank Chemical as such Collateral Agent, to take such actions on its behalf hereunder and under the provisions of the other Loan Security Documents and to exercise such powers and perform such duties expressly delegated to the Collateral Agent hereunder and under by the other Loan terms of the Security Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in the Loan Security Documents, the Collateral Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the other Loan Security Documents, or any fiduciary relationship with any LenderSecured Party, and no implied covenants, functions or responsibilities shall be read into the Loan Security Documents or otherwise exist against the Collateral Agent. The Collateral Agent shall not be liable for any action taken or omitted to be taken by it hereunder or under any Loan Document, or in connection herewith or therewith, or in connection with the Collateral, unless caused by its gross negligence or willful misconduct.