Common use of Duties of Special Warrant Agent Clause in Contracts

Duties of Special Warrant Agent. By way of supplement to the provisions of any statute for the time being relating to special warrant agents, and notwithstanding any other provision of this Special Warrant Indenture, in the exercise of the rights, duties and obligations prescribed or conferred by the terms of this Special Warrant Indenture, the Special Warrant Agent shall act honestly and in good faith and shall exercise that degree of care, diligence and skill that a reasonably prudent special warrant agent would exercise in comparable circumstances. No provision of this Special Warrant Indenture shallbe construed to relieve the Special Warrant Agent from, or require any other person to indemnify the Special Warrant Agent against, any liability for its own negligence, wilful misconduct or fraud.

Duties of Special Warrant Agent. By way of supplement to the provisions of any statute for the time being relating to special warrant agents, and notwithstanding any other provision of this Special Warrant Indenture, in the exercise of the rights, duties and obligations prescribed or conferred by the terms of this Special Warrant Indenture, the Special Warrant Agent shall act honestly and in good faith and shall exercise that degree of care, diligence and skill that a reasonably prudent special warrant agent would exercise in comparable circumstances. No provision of this Special Warrant Indenture shallbe construed to relieve the Special Warrant Agent from, or require any other person to indemnify the Special Warrant Agent against, any liability for its own gross negligence, wilful misconduct or fraud.

Duties of Special Warrant Agent. ‌ By way of supplement to the provisions of any statute for the time being relating to special warrant agentstrustees, and notwithstanding any other provision of this Special Warrant Indenture, in the exercise of the rights, duties and obligations prescribed or conferred by the terms of this Special Warrant Indenture, the Special Warrant Agent shall act honestly and in good faith with a view to the best interests of the Special Warrantholders and shall exercise that degree of care, diligence and skill that a reasonably prudent special warrant agent would exercise in comparable circumstances. No provision of this Special Warrant Indenture shallbe shall be construed to relieve the Special Warrant Agent from, or require any other person to indemnify the Special Warrant Agent against, against any liability for its own gross negligence, wilful misconduct or fraudfraud under this Indenture.