Common use of Assignor's Duties Clause in Contracts

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 unless the Collateral Agent or any Secured Creditor shall become the absolute owner of any Collateral pursuant hereto, the Collateral Agent and the other Secured Creditors shall not have any obligations or liabilities by reason of or arising out of this Agreement with respect to any such Collateral, nor shall the Collateral Agent or the other Secured Creditors be required or obligated in any manner to perform or fulfill any of the obligations of each Assignor under or with respect to any Collateral.

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 unless neither the Collateral Agent or nor any other Secured Creditor shall become the absolute owner of any Collateral pursuant hereto, the Collateral Agent and the other Secured Creditors shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement with respect to any such CollateralAgreement, nor shall the Collateral Agent or the nor any other Secured Creditors Creditor be required or obligated in any manner to perform or fulfill any of the obligations of each any Assignor under or with respect to any Collateral.

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 unless the Collateral Agent or any Secured Creditor shall become the absolute owner of any Collateral pursuant hereto, the Collateral Agent and the other Secured Creditors shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement with respect to Agreement, except any such Collateralobligations or liabilities which are the direct result of the Collateral Agent’s gross negligence or willful misconduct, nor shall the Collateral Agent or the other Secured Creditors be required or obligated in any manner to perform or fulfill any of the obligations of each any Assignor under or with respect to any Collateral.