Collateral Agent’s Duties. The powers conferred on Collateral Agent hereunder are solely to protect its interest and the interests of Noteholders in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the exercise of reasonable care in the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, Collateral Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral, including, without limitation, ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Collateral, whether or not Collateral Agent has or is deemed to have knowledge of such matters.
Appears in 6 contracts
Samples: Subordinated Security Agreement (Warp Technology Holdings Inc), Subordinated Security Agreement (Warp Technology Holdings Inc), Security Agreement (Warp Technology Holdings Inc)
