Common use of Liability of Collateral Agent Clause in Contracts

Liability of Collateral Agent. The Collateral Agent shall not be liable as mortgagee in possession in respect of any of the Assigned Property to account or be liable for any loss upon realisation or for any neglect or default of any nature whatsoever in connection therewith for which a mortgagee in possession may be liable as such.

Liability of Collateral Agent. The Collateral Agent shall not be liable to account as mortgagee in possession in respect of all or any of the Assigned Secured Property to account or and shall not be liable for any loss upon realisation or for any neglect or default to present any coupon, bond or stock drawn for repayment or for any failure to pay any call or instalment or to accept any offer or to notify the Shareholder of any such matter or for any other loss of any nature whatsoever in connection therewith for which a mortgagee in possession may be liable as suchwith the Secured Property.