Duties and Liabilities. The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth, by all of which the Company and the Holders of Warrants, by their acceptance thereof, shall be bound. The Warrant Agent shall not, by countersigning Warrant Certificates or by any other act hereunder, be deemed to make any representations as to the validity or authorization of the Warrants or the Warrant Certificates (except as to its countersignature thereon) or of any Common Shares issued upon exercise of any Warrant, or as to the accuracy of the computation of the Exercise Price or the number or kind or amount of Common Shares deliverable upon exercise of any Warrant or the correctness of 40 36 the representations of the Company made in the certificates that the Warrant Agent receives. The Warrant Agent shall not be accountable for the use or application by the Company of the proceeds of the exercise of any Warrant. The Warrant Agent shall not have any duty to calculate or determine any adjustments with respect to either the Exercise Price or the kind and amount of Common Shares receivable by Holders upon the exercise of Warrants required from time to time and the Warrant Agent shall have no duty or responsibility in determining the accuracy or correctness of such calculation. The Warrant Agent shall not be (a) liable for any recital or statement of fact contained herein or in the Warrant Certificates or for any action taken, suffered or omitted by it in good faith in the belief that any Warrant Certificate or any other documents or any signatures are genuine or properly authorized, (b) responsible for any failure on the part of the Company to comply with any of its covenants and obligations contained in this Agreement or in the Warrant Certificates or (c) liable for any act or omission in connection with this Agreement except for its own gross negligence, bad faith or willful misconduct. The Warrant Agent is hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chairman of the Board, Chief Executive Officer, any Vice President or other executive officer of the Company and to apply to any such officer for instructions (which instructions will be promptly given in writing when requested) and the Warrant Agent shall not be liable for any action taken or suffered to be taken by it in good faith in accordance with the instructions of any such officer; howe...
Duties and Liabilities. 36 Section 11.2.
Duties and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Agent or any Lender to take any steps to perfect the Agent's Liens or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. Following the occurrence and continuation of an Event of Default, the Agent may (but shall not be required to), and at the direction of the Majority Lenders shall, without notice to or consent from the Borrower, sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Agent and/or any Lender and the Borrower.
Duties and Liabilities. 40 Section 11.2.
Duties and Liabilities. Without limiting Article VI, Officers and employees of the Company shall, in their capacities as such, be expected to perform their duties and make decisions in furtherance of the best interests of the Company, regardless of whether such Officers or employees are designated or seconded by a particular Member or Director or any Affiliates thereof. Without limiting Article VI, such Officers and employees shall, in their capacities as such, be subject to (a) the same fiduciary duty of loyalty as are employees and officers of corporations under the Law of the State of Delaware and (b) liability for Damages in the performance of such duty (in addition to any liabilities arising from their intentional fraud, bad faith failure to act in the best interests of the Company (taking into account the Company Purpose and the Company Scope) or knowing willful misconduct).
Duties and Liabilities. The Escrow Agent shall have no duties or responsibilities other than those expressly set forth in this Escrow Agreement, and no implied duties or obligations of the Escrow Agent shall be read into this Escrow Agreement. In addition:
Duties and Liabilities. Each Borrower assumes all responsibility and liability arising from or relating to the use, sale or other disposition of the Collateral. Neither the Agent, nor any Lender, nor any of their respective officers, directors, employees or agents, in the absence of gross negligence or willful misconduct, shall be liable or responsible in any way for the safekeeping of any of the Collateral, or for any loss or damage thereto, or for any diminution in the value thereof, or for any act of default of any warehouseman, carrier, forwarding agency or other person whomsoever, all of which shall be at the Borrowers' sole risk. The Obligations shall not be affected by any failure of the Agent or any Lender to take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, or to perfect the Agent's Liens or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release any Borrower from any of the Obligations. If an Event of Default exists, the Agent may (but shall not be required to), and at the direction of the Majority Lenders shall, without notice to or consent from any Borrower, xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, without discharging or otherwise affecting the liability of any Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Agent and/or any Lender and any Borrower.
Duties and Liabilities. Each Member, by execution of this Agreement, agrees to, consents to and acknowledges the delegation of power and authority to the Board and the actions and decisions of the Board within the scope of the Board's authority as provided in this Agreement. With respect to matters involving the Company and its affairs, each Director shall have the duty to act in good faith. In the performance of his duties, each Director shall have the right to consider such factors and interests as he deems relevant, including the interests of, and the impact of Company action on, the Managing Member that appointed such Director; provided that a Director shall not be required to consider any interests other than those of the Company and its Members. No Director shall be liable to the Company, its Members or any other Person for violation of any duty specified in this Section 3.2(e) or elsewhere in this Agreement, except to the extent such violation constitutes bad faith or intentional misconduct on the part of such Director. To the extent that, at law or in equity, a Director has duties (including fiduciary duties) and liabilities relating thereto to the Company or any Member, a Director acting under this Agreement shall not be liable to the Company or any Member for its good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent they restrict or eliminate the duties and liabilities of a Director otherwise existing at law or in equity, are agreed by the Members to replace such other duties and liabilities of such Director.
Duties and Liabilities. The Chief Executive Officer is responsible for management of the company and shall comply with the guidelines and instructions given by the Board of Directors. The Chief Executive Officer is responsible to the Board of Directors for the Company's business and operations being performed in accordance with the Company's governing system and guidelines, law and regulations and commercial custom and practice. The Chief Executive Officer is responsible for hiring and, if needed, dismissal of leaders reporting directly to him. The Board of Directors shall be informed prior to the decision by the Chief Executive Officer. The Chief Executive Officer shall, at the request of the Board of Directors, serve as Chairman of the Board or Director of any of the Company's subsidiaries. The Chief Executive Officer shall not be entitled to Director's fees for any such
Duties and Liabilities. To the extent that, at law or in ---------------------- equity, the Trustee, the Designee or any other Indemnitee has duties (including fiduciary duties) and liabilities relating to the Trust or to any Certificateholder, (a) the Trustee, the Designee or any other Indemnitee acting under this Agreement shall not be liable to the Trust or to any Certificateholder for such Person's good faith reliance on the provisions of this Agreement; and (b) the provisions of this Agreement, to the extent that they restrict the duties and liabilities of the Trustee, the Designee or any other Indemnitee otherwise existing at law or in equity, are agreed by the Initial Certificateholder, each other party hereto and their respective successors and assigns to replace such other duties and liabilities of the Trustee, the Designee or such other Indemnitee.
