Common use of Exculpation of Liability Clause in Contracts

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 21 contracts

Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/), Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Ugi Corp /Pa/)

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Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume assumes any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lenderwhich it is a party, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 7 contracts

Samples: Loan and Security Agreement (American Outdoor Brands, Inc.), Loan and Security Agreement (American Outdoor Brands, Inc.), Loan and Security Agreement (Forbes Energy Services Ltd.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan Party’s '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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s 's obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 6 contracts

Samples: Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc), Loan and Security Agreement (Bucyrus International Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 4 contracts

Samples: And Guaranty Agreement (ZRCN Inc.), Security Agreement (Ampco Pittsburgh Corp), Revolving Creditandsecurity Agreement (TCP International Holdings Ltd.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 4 contracts

Samples: Security Agreement (Stream Global Services, Inc.), Loan and Security Agreement (Edgen Louisiana CORP), Loan and Security Agreement (Bucyrus International Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as agent for any Loan Party’s agent Credit Party 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Credit Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Credit Party of any of the terms and conditions thereof.

Appears in 4 contracts

Samples: Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan Party’s '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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s 's obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 3 contracts

Samples: Loan and Security Agreement (Ati Inc), Security Agreement (Allegheny Technologies Inc), Castle a M & Co

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan Party’s Parties’ 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 3 contracts

Samples: Loan and Security Agreement (Marketwise, Inc.), Loan and Security Agreement (Veeco Instruments Inc), Loan and Security Agreement (Marketwise, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan Party’s Parties’ 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof. 4.19. [Reserved]. 4.20.

Appears in 2 contracts

Samples: Loan and Security Agreement (Veeco Instruments Inc), Loan and Security Agreement (Veeco Instruments Inc)

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof. 4.12.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ugi Corp /Pa/), Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume assumes any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (Vision-Ease Lens CORP), Loan and Security Agreement (Vision-Ease Lens, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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, except to the extent caused by the gross negligence or willful misconduct of Agent or of such Lender. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan PartyPerson’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party Person of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Security Agreement (Keane Group, Inc.), Security Agreement (Keane Group, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any US Loan 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 US Collateral wherever the same may be located and regardless of the cause thereof. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any US Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any US Loan Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Credit and Security Agreement (Invacare Corp), Credit and Security Agreement (Invacare Corp)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s 's obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Security Agreement (TCP International Holdings Ltd.), Security Agreement (TCP International Holdings Ltd.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan Credit Party’s '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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Credit Party’s 's obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Credit Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Financing Agreement (Cpac Inc), Security Agreement (Sunsource Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute any Agent or any Lender as any Loan Party’s agent for any purpose whatsoever, nor shall any 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. Neither any Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither any Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Security Agreement (A.S.V., LLC), Security Agreement (Manitex International, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Domestic Loan Party’s or Borrowing Base 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Domestic Loan Party’s or Borrowing Base Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Domestic Loan Party or Borrowing Base Party of any of the terms and conditions thereof.

Appears in 2 contracts

Samples: Security Agreement (PHI Group, Inc./De), Security Agreement (PHI Group, Inc./De)

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.. 119

Appears in 1 contract

Samples: Security Agreement (Babcock & Wilcox Enterprises, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute any Agent or any Lender as agent of any Loan Party’s agent Party for any purpose whatsoever, nor shall any 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. Neither any Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s Parties' obligations under any contract or agreement assigned to such Agent or such Lender, and neither any Agent nor any Lender shall be responsible in any way for the performance by any Loan Party Parties of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Tb Woods Corp)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof. 4.12.

Appears in 1 contract

Samples: Cca Industries Inc

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Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender Party as any Loan Party’s agent for any purpose whatsoever, nor shall Agent or any Lender Party 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, except to the extent such shortage, discrepancy, damage, loss or destruction is determined to have resulted primarily from Agent’s or any Lender Party’s gross negligence or willful misconduct. Neither Agent nor any LenderLender Party shall, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such LenderLender Party, and neither Agent nor any Lender Party shall be responsible in any way for the performance by any Loan Party Parties of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Credit and Security Agreement (Sachem Capital Corp.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Domestic Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Domestic Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Domestic Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Worthington Steel, Inc.)

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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 DB1/ 123142411.13 any part of the Collateral wherever the same may be located and regardless of the cause thereof. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Quantum Corp /De/)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender or Term Lender as any Loan Party’s agent for any purpose whatsoever, nor shall Agent or any Lender or Term 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. Neither Agent nor any Lender or Term Lender, whether by anything herein or in any assignment or otherwise, assume any of any such Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender or Term Lender, and neither Agent nor any Lender or Term Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Financing Agreement (Rafaella Apparel Group,inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any the Lender as any Loan Borrower Party’s agent for any purpose whatsoever, nor shall Agent or any the 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. Neither Agent nor any The Lender, whether by anything herein or in any assignment or otherwise, shall not assume any of any Loan Party’s the Borrower Parties’ obligations under any contract or agreement assigned to Agent or such the Lender, and neither Agent nor any the Lender shall not be responsible in any way for the performance by any Loan Borrower Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Odetics Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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 thereofthereof (other than caused by Agent’s or any Lender’s gross (not mere) negligence or willful misconduct, as determined pursuant to a final, non-appealable order of a court of competent jurisdiction). Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume assumes any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lenderwhich it is a party, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Primo Water Corp)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any the Lender as any Loan Borrower Party’s 's agent for any purpose whatsoever, nor shall Agent or any the 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. Neither Agent nor any The Lender, whether by anything herein or in any assignment or otherwise, shall not assume any of any Loan Party’s the Borrower Parties' obligations under any contract or agreement assigned to Agent or such the Lender, and neither Agent nor any the Lender shall not be responsible in any way for the performance by any Loan Borrower Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Fidelity National Information Solutions Inc)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any such Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Financing Agreement (Verrazano,inc.)

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent ​ 105 ​ or such LenderXxxxxx, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Williams Industrial Services Group Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Administrative Agent or any Lender as any Loan Party’s agent for any purpose whatsoever, nor shall Administrative 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. Neither Administrative Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Administrative Agent or such Lender, and neither Administrative Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Asv Holdings, Inc.)

Exculpation of Liability. Nothing set forth herein contained shall be construed to constitute Agent or any Lender or Term Lender as any Loan Party’s agent for any purpose whatsoever, nor shall Agent or any Lender or Term 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. Neither Agent nor any Lender, Lender or Term Lender whether by anything herein or in any assignment or otherwise, assume any of any such Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender or Term Lender, and neither Agent nor any Lender or Term Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Financing Agreement (Rafaella Apparel Group,inc.)

Exculpation of Liability. Nothing set forth herein shall be construed to constitute Agent or any Lender as any Loan 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. Neither Agent nor any Lender, whether by anything herein or in any assignment or otherwise, assume any of any Loan Party’s obligations under any contract or agreement assigned to Agent or such Lender, and neither Agent nor any Lender shall be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof.

Appears in 1 contract

Samples: Security Agreement (Williams Industrial Services Group Inc.)

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