Common use of Duties of the Security Agent Clause in Contracts

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 '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 Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly forward to a Party the original or Agent a copy of any document which is delivered to received by the Security Agent for that Party by from any other PartyObligor under any Finance Document. (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 PartiesAgent. (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 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 circumstance and stating that the circumstance described is a Default, it shall promptly notify the other Finance PartiesParties but shall not have any duty to verify whether the circumstances described has actually occurred or whether it constitutes a Default. (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 '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 circumstance and stating that the circumstance described is a Default, it shall promptly notify the other Finance PartiesParties but shall not have any duty to verify whether the circumstances described has actually occurred or whether it constitutes a Default. (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 Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly forward to a Party inform the original or a copy Facility Agent of the contents of any notice or document which is delivered to the Security Agent for that Party or payment received by it (in its capacity as security trustee) from any other PartyObligor under any Finance Document. (cb) 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 the Facility Agent or any other Party or Secured Party. (dc) If the Security Agent receives notice from a Party any party to any Finance Document referring to any a Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance PartiesFacility Agent. (ed) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it the Security Agent 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 Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly forward to a Party inform the original or a copy Facility Agent of the contents of any notice or document which is delivered to or payment received by it (in its capacity as security agent and/or trustee for the Security Agent for that Party by Finance Parties) from any other PartyObligor under any Finance Document. (cb) 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 Partythe Facility Agent. (dc) If the Security Agent receives notice from a Party any party to any Finance Document referring to any a Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance PartiesFacility Agent. (ed) The Security Agent shall have only those no other duties, obligations and responsibilities save as expressly specified provided for 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 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).