Common use of Duties of Collateral Agent Clause in Contracts

Duties of Collateral Agent. (a)If an Event of Default has occurred and is continuing, the Collateral Agent shall exercise its rights and powers and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

Duties of Collateral Agent. (a)If an a) The Collateral Agent shall exercise the rights and powers vested in it by this Agreement and, if a Trust Agreement Event of Default has occurred and is continuing, the Collateral Agent shall exercise its rights and powers and use with the same degree of care and skill in their exercise as a prudent man person would exercise or use under the circumstances in the conduct of his such person's own affairs.

Duties of Collateral Agent. (a)If a) If an Event of Default has occurred and is continuingcontinuing of which a Responsible Officer of Collateral Agent has knowledge, the Collateral Agent shall exercise its such of the rights and powers vested in it by this Security Agreement, and use the same degree of care and skill in their exercise its exercise, as a prudent man person would exercise or use under the circumstances in the conduct of his such person's own affairs.