Common use of Duties of the Security Agent Clause in Contracts

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’s '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 Creditor Representative 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. (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 22.3 (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 PartiesPrimary Creditors. (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 '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’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 Creditor Representative 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. (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 25.3 (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 PartiesPrimary Creditors. (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’s duties under the Debt Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to each Secured Party the Agent a copy of any document received by the Security Agent from any Debtor under any Debt 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 Debt 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) Without prejudice to Clause 20.3 28.11 (Notification of prescribed eventsNo duty to monitor), if the Security Agent receives notice from a Party referring to any Debt Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Secured PartiesPrimary Creditors. (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 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 Debt Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to each Secured Party Creditor Representative 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 21.3 (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 Partieseach Creditor Representative. (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 '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’s duties under the Debt Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to each Secured Party Facility Agent and to each Hedge Counterparty a copy of any document received by the Security Agent from any Debtor under any Debt 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 Debt 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) Without prejudice to Clause 20.3 28.11 (Notification of prescribed eventsNo duty to monitor), if the Security Agent receives notice from a Party referring to any Debt Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Secured PartiesPrimary Creditors. (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 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 the Senior Agent and to each Secured Party Hedge Counterparty (that is party to any Hedging Agreement) a copy of any document received by the Security Agent from any Debtor under that is party to any Debt DocumentSenior Facility Finance Document or such Hedging Agreement (as the case may be); 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 22.3 (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 PartiesSenior Creditors. (e) To the extent that a Party (other than the Security Agent) is required to calculate a Common Currency Amount, the Security Agent shall shall, upon a request by that Party, promptly notify that Party of the relevant applicable Security Agent’s Spot Rate of ExchangeExchange for the purposes of such calculation. (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’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 Secured Party Hedge Counterparty a copy of any document received by the Security Agent from any Debtor or the Parent 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 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 22.3 (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 PartiesExternal Creditors. (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). Nothing in this Agreement constitutes the Security Agent as an agent, trustee or fiduciary of any Debtor or the Parent.

Duties of the Security Agent. (a) The Security Agent’s '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 Creditor Representative 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. (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 23.3 (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 PartiesPrimary Creditors. (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 '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’s '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 Secured Party Hedge Counterparty and Cash Management Provider 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 22.3 (Notification of prescribed events), if the Security Agent receives notice from a Party referring to any Debt Document, describing a Default default under that Debt Document and stating that the circumstance described is a Defaultdefault under that Debt Document, it shall promptly notify the Secured PartiesSenior Creditors. (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 '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’s duties under the Debt Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to each Secured Party the Agent a copy of any document received by the Security Agent from any Debtor Obligor under any Debt 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 Debt Document specifically provides otherwise, the 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 If a Responsible Officer of prescribed events), if the Security Agent receives notice from a Party referring to any Debt Finance Document, describing a Default or Event of Default and stating that the circumstance described is a Default or Event of Default, it shall promptly notify the Secured other Finance Parties. (e) To the extent that a Party (other than the Security Agent) is required to calculate a Common Currency Amount, If the Security Agent enforces, or takes formal steps to enforce, any of the Transaction Security it shall upon a request by that Party, promptly notify that each Finance Party of the relevant Security Agent’s Spot Rate of Exchangethat action. (f) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Debt Finance Documents to which it is expressed to be a party (and no others shall be implied). (g) Notwithstanding anything contained herein to the contrary, the right of the Security Agent to perform any discretionary act enumerated in this Agreement, the Finance Documents or any related document shall not be construed as a duty. (h) The Security Agent is hereby directed to execute and deliver each Transaction Security Agreement and any other Finance Document to which it is, or is requested to become, a party.

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 Creditor Representative 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 the Security Agent has expressly agreed 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 24.3 (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 PartiesCreditor Representatives. (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 ExchangeExchange to the extent available. (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 signatory (and no others shall be implied). (g) Notwithstanding anything contained herein to the contrary, the right of the Security Agent to perform any discretionary act enumerated in this Agreement, the Debt Documents or any related document shall not be construed as a duty.

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 Creditor Representative 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 the Security Agent has expressly agreed 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 23.3 (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 PartiesCreditor Representatives. (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 ascertain the Spot Rate of Exchange from Citibank, N.A., London Branch and notify that Party of the relevant Security Agent’s Spot Rate of ExchangeExchange to the extent available. (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 signatory (and no others shall be implied). (g) Notwithstanding anything contained herein to the contrary, the right of the Security Agent to perform any discretionary act enumerated in this Agreement, the Debt Documents or any related document shall not be construed as a duty.

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 Creditor Representative 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 21.3 (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 Partieseach Creditor Representative. (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’s '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 Note Agent 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 clause 16.3 (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 PartiesCreditors. (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).