Exculpation of Liability. Nothing herein contained shall be construed to constitute Agent as agent of any Credit Party for any purpose whatsoever, nor shall Agent be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located and regardless of the cause thereof. Agent, whether by anything herein or in any assignment or otherwise, does not assume any of any Credit Party’s obligations under any contract or agreement assigned to Agent, and Agent shall not be responsible in any way for the performance by any Credit Party of any of the terms and conditions thereof.
Appears in 5 contracts
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Exculpation of Liability. Nothing herein contained shall be construed to constitute Agent or any Lender as agent of any Credit Party Party’s agent for any purpose whatsoever, nor shall Agent or any Lender be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located and regardless of the cause thereof. AgentNo Secured Party, whether by anything herein or in any assignment or otherwise, does not assume assumes any of any Credit Party’s obligations under any contract or agreement assigned to AgentAgent or such Lender, and Agent no Secured Party shall not be responsible in any way for the performance by any Credit Party of any of the terms and conditions thereof.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Virco MFG Corporation), Security Agreement (Virco MFG Corporation)
Exculpation of Liability. Nothing herein contained shall be construed to constitute Agent as agent of any Credit Loan Party for any purpose whatsoever, nor shall Agent be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located and regardless of the cause thereof. Agent, whether by anything herein or in any assignment or otherwise, does not assume any of any Credit Loan Party’s obligations under any contract or agreement assigned to Agent, and Agent shall not be responsible in any way for the performance by any Credit Loan Party of any of the terms and conditions thereof.
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
Exculpation of Liability. Nothing herein contained shall be construed to constitute Agent as agent of any Credit Party for any purpose whatsoever, nor shall Agent be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located and regardless of the cause thereof. Agent, whether by anything herein or in any assignment or otherwise, does not assume any of any Credit Party’s obligations under any contract or agreement assigned to Agent, and Agent shall not be responsible in any way for the performance by any Credit Party of any of the terms and conditions thereof.. 4.09
Appears in 1 contract
Samples: Securities Purchase Agreement and Security Agreement
