Assignor's Duties. It is expressly agreed, anything herein contained to the contrary notwithstanding, that each Assignor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Collateral Agent shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Assignor under or with respect to any Collateral except to the extent directly resulting from the Collateral Agent's gross negligence or willful misconduct.
Appears in 4 contracts
Samples: Security Agreement, Security Agreement (Universal Compression Holdings Inc), Security Agreement (Universal Compression Inc)
Assignor's Duties. It is expressly agreed, anything herein contained to the contrary notwithstanding, that each the Assignor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Cash Collateral Agent shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any the Assignor under or with respect to any Collateral except to the extent directly resulting from the Cash Collateral Agent's gross negligence or willful misconduct.
Appears in 1 contract
