Common use of Collateral Agent Has No Duty Clause in Contracts

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 12 contracts

Samples: Pledge Agreement (Sterling Chemicals Inc), Pledge Agreement (Foamex Capital Corp), Pledge Agreement (Foamex Capital Corp)

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Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Propertyinvestment property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 6 contracts

Samples: Second Lien Notes Pledge and Security Agreement (Reddy Ice Holdings Inc), First Lien Notes Pledge and Security Agreement (Reddy Ice Holdings Inc), Pledge, Security and Intercreditor Agreement (Roadway Corp)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Investment Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 6 contracts

Samples: Credit Agreement (Ferro Corp), Credit Agreement (SWIFT TRANSPORTATION Co), Credit Agreement (SWIFT TRANSPORTATION Co)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Investment Property and any other Pledged Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 5 contracts

Samples: Intercreditor Agreement, Intercreditor Agreement (Penn Virginia Corp), Intercreditor Agreement

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the Holders of the Senior Secured PartiesNotes) 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, the Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged PropertyCollateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Stock Pledge and Security Agreement (Sterling Chemical Inc), Stock Pledge and Security Agreement (Sterling Chemical Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the Secured Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for the exercise of reasonable care of over any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Atlantic Power Corp), Credit Agreement (U.S. Shipping Partners L.P.)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Property, whether or not the Collateral Agent has or is deemed to have notice or knowledge of such matters, ; or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Credit Agreement (Canada Goose Holdings Inc.), Credit Agreement (Canada Goose Holdings Inc.)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent and the Lender hereunder are solely to protect its their interest (on behalf of the Secured Parties) in the Collateral and shall not impose any duty on it them to exercise any such powers. Except for reasonable care of any Collateral in its their possession and the accounting for moneys actually received by it hereunder, the Collateral Agent and the Lender shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Propertypledged Collateral, whether or not the Collateral Agent or the Lender has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Share Pledge Agreement (Mad Catz Interactive Inc), Share Pledge Agreement (Mad Catz Interactive Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the Secured Lender Parties) in the Collateral and shall not impose any duty on it to exercise any such powers. Except for the exercise of reasonable care of over any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Pledge Agreement (National Energy Group Inc), Pledge Agreement (National Energy Group Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its the interest of the Trustee (on behalf of the Secured PartiesHolders) 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 Collateral Agent shall have no duty as to any Collateral or responsibility for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Propertyinvestment property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, ; or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Sterling Chemical Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged PropertyCollateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or or (bii) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Credit Agreement (Genlyte Group Inc)

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Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the Secured PartiesNote Holders) 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 Collateral Agent shall have no duty as to any Collateral or responsibility for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Propertyinvestment property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Interface Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged PropertyCollateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Note Purchase and Security Agreement (New World Coffee Manhattan Bagel Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Investment Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, ; or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Sterling Chemicals Inc)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to the Collateral or any Pledged Propertyother investment property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, ; or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Biolex, Inc.)

Collateral Agent Has No Duty. The powers and discretionary rights conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the Secured PartiesBank) 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 actual possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Reimbursement Agreement (Public Service Co of New Mexico)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of itself and on behalf of the Secured Protected 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Investment Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or or (b) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Air Lease Corp)

Collateral Agent Has No Duty. The powers conferred on the Collateral Agent hereunder are solely to protect its interest (on behalf of the 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 Collateral Agent shall have no duty as to any Collateral or responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Investment Property, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Loan Agreement (PBF Holding Co LLC)

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