Common use of Duties of the Intercreditor Agent Clause in Contracts

Duties of the Intercreditor Agent. (a) The Intercreditor Agent’s duties under the Debt Documents are solely mechanical and administrative in nature. (b) The Intercreditor Agent shall promptly: (i) forward to each Creditor Representative and to each Hedge Counterparty a copy of any document received by the Intercreditor Agent from any Debtor under any Debt Document; and (ii) forward to a Party the original or a copy of any document which is delivered to the Intercreditor Agent for that Party by any other Party. (c) Except where a Debt Document specifically provides otherwise, the Intercreditor Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. (d) Without prejudice to Clause 28.3 (Notification of prescribed events), if the Intercreditor Agent receives notice from a Party referring to any Debt Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Primary Creditors. (e) The Intercreditor Agent shall have only those duties, obligations and responsibilities expressly specified in the Debt Documents to which it is expressed to be a party (and no others shall be implied).