Duties of the Security Agent. (a) The Security Agent’s duties under the Finance Documents are solely mechanical and administrative in nature.
(b) The Security Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party.
(c) Except where a Finance Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party.
(d) If the Security Agent receives notice from a Party referring to any Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties.
(e) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied).
Duties of the Security Agent. (a) The Security Agent’s duties under the Debt Documents are solely mechanical and administrative in nature.
(b) The Security Agent shall promptly:
(i) forward to each Secured Party a copy of any document received by the Security 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 Security Agent for that Party by any other Party.
(c) Except where a Debt Document specifically provides otherwise, the Security 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 20.3 (Notification of prescribed events), if the Security 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 Secured Parties.
(e) To the extent that a Party (other than the Security Agent) is required to calculate a Common Currency Amount, the Security Agent shall upon a request by that Party, promptly notify that Party of the relevant Security Agent’s Spot Rate of Exchange.
(f) The Security 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).
Duties of the Security Agent. (a) The Security Agent shall forward promptly to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party.
(b) Except where a Transaction Security Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party.
(c) If the Security Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Secured Parties.
(d) If the Security Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than any Administrative Party) under this Agreement, it shall promptly notify the other Finance Parties.
(e) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied).
Duties of the Security Agent. The Security Agent's duties under the Finance Documents are solely mechanical and administrative in nature.
Duties of the Security Agent. (a) The duties of the Security Agent under the Secured Finance Documents and this Agreement are solely mechanical and administrative in nature and shall in relation to this Agreement be limited to those expressly set forth in this Agreement. Except as specifically provided in the Debt Documents to which the Security Agent is a party, the Security Agent has no obligations of any kind to any other Party under or in connection with the Debt Documents.
(b) The Security Agent is not responsible for (i) the adequacy, accuracy or completeness of any information supplied by any Party in connection with the Debt Documents or (ii) the legality, validity or enforceability of any Debt Document or any agreement or document relating thereto, the perfection of any Transaction Security or whether a Secured Party has recourse against any Party or any of its respective assets. Each Secured Party confirms to the Security Agent that it has made and will continue to make its own independent appraisal and investigation of all risks arising under or in connection with the Debt Documents including with respect to the financial condition and status of any ICA Group Company or other Group Company.
(c) The Security Agent shall not be held responsible for any loss or damage resulting from a legal enactment (Swedish or foreign), the intervention of a public authority (Swedish or foreign), an act of war, a strike, a blockade, a boycott, a lockout or any other similar circumstance. The reservation in respect of strikes, blockades, boycotts and lockouts shall apply even if the Security Agent itself is subject to such measures or takes such measures. Where a circumstance referred to in this paragraph prevents the Security Agent from making payments or taking measures, such payments or measures may be postponed until such circumstance no longer exists. If the Security Agent is prevented from receiving payment/delivery, the Security Agent shall not be obliged to pay interest.
(d) Any loss or damage that has occurred in other circumstances than as set out in paragraph (b) and (c) above shall not be indemnified by the Security Agent unless such losses or damages are suffered or occurred by reason of wilful wrongdoing or negligence on the part of the Security Agent. The Security Agent shall for the avoidance of doubt not be deemed to be negligent if having acted in accordance with such practices and procedures as are generally accepted in the banking sector. In no event shall the Security Agen...
Duties of the Security Agent. In addition to its obligations under Clause 25.4(D) the Security Agent shall:-
(i) promptly inform the Banks, the Issuing Banks and the Standby Lender of the contents of any notice or request received by it from the Borrowers or any other Security Party under the Security Documents and of any other matters which the Security Agent considers material;
(ii) promptly inform the Banks, the Issuing Banks and the Standby Lender in reasonable detail of any exercise by it of any of the rights, powers and/or discretions vested in it hereunder (but without the Security Agent being under any obligation to give prior notice to the Banks, the Issuing Banks or the Standby Lender of any such exercise);
(iii) promptly notify the Banks, the Issuing Banks and the Standby Lender of the occurrence of any Default or any other default by a Security Party in the due performance of or compliance with its material obligations under any of the Security Documents of which the Security Agent has actual knowledge or actual notice and the occurrence of which the Security Agent has verified;
(iv) if directed by the Majority Banks, exercise (or refrain from exercising) any right, power or discretion vested in it hereunder in accordance with the directions (subject to Clause 25.2(A)) of the Majority Banks provided, however, that it may refrain from acting in accordance with any such directions until it has received such security as it may require (whether by way of payment in advance or otherwise) for all costs, claims, expenses (including legal fees) and liabilities which it will or may expend or incur in complying with such directions and for this purpose the Security Agent shall make a demand for such security addressed to all the Banks and the Standby Lender.
Duties of the Security Agent. (a) The Security Agent shall promptly inform the Facility Agent of the contents of any notice or document or payment received by it (in its capacity as security agent and/or trustee for the Secured Parties) from any Obligor under any Finance Document.
(b) Except where a Finance Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to the Facility Agent.
(c) If the Security Agent receives notice from any party to any Finance Document referring to a Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Facility Agent.
(d) The Security Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. The Security Agent shall have no other duties, obligations and responsibilities save as expressly provided for in the Finance Documents to which it is a party (and no others shall be implied).
Duties of the Security Agent. (a) The Security Agent's duties under the Debt Documents are solely mechanical and administrative in nature.
(b) The Security Agent shall promptly:
(i) forward to the Agent and to each Hedge Counterparty a copy of any document received by the Security 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 Security Agent for that Party by any other Party.
Duties of the Security Agent. (a) The Security Agent's duties under the Finance Documents are solely mechanical and administrative in nature.
(b) The Security Agent shall promptly:
(i) forward to the Facility Agent a copy of any document received by the Security Agent from any Obligor, the Spanish Pledgor or any South African Pledge Counterparty under any Finance Document; and
(ii) forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party.
(c) Except where a Finance Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party.
(d) If the Security Agent receives notice from a Party referring to any Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Lenders.
(e) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied).
Duties of the Security Agent. 7.6.1 The Security Agent’s duties under the Transaction Documents are solely mechanical and administrative in nature.
7.6.2 The Security Agent shall promptly:
(a) forward to the Investment Agent a copy of any document received by the Security Agent from any Obligor under any Transaction Document; and
(b) forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party.
7.6.3 Except where a Transaction Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party.
7.6.4 If the Security Agent receives notice from a Party referring to any Transaction Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Participants.
7.6.5 Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Transaction Documents to which it is expressed to be a party (and no others shall be implied).
