Common use of Liability of Escrow Agent Clause in Contracts

Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligations.

Appears in 7 contracts

Samples: Principal Forgiveness Agreement, Escrow Agreement, Escrow Agreement

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Liability of Escrow Agent. To the extent permitted by law, the The Escrow Agent shall not be liable for any act done or step action taken or omitted by it in good faith in accordance with the advice of its counsel and in no event shall it be liable or any mistake of fact or law, responsible except for its won negligence or default or failure in the performance of any obligation imposed upon it hereunderwillful misconduct. The Escrow Agent shall not be responsible in any manner for any proceedings loss to the Proceeds resulting from the investment thereof in connection accordance with the Obligations or any recitation contained in the Obligationsterms of this Agreement.

Appears in 6 contracts

Samples: Escrow Agreement (Smart Technologies Inc), Escrow Agreement (New Millenium Packaging Inc), Escrow Agreement (Smart Technology Inc)

Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligations.,

Appears in 4 contracts

Samples: Flood Infrastructure Fund Contract, Flood Infrastructure Fund Contract, Escrow Agreement

Liability of Escrow Agent. To the extent permitted by law, the The Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations performance of its duties hereunder except for its own negligent action, its own negligent failure to act or any recitation contained its own willful misconduct, except as may be provided to the contrary in the Obligations2006 Indenture.

Appears in 2 contracts

Samples: Escrow Deposit Trust Agreement, Escrow Deposit Trust Agreement

Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligations.imposed

Appears in 2 contracts

Samples: Loan Forgiveness Agreement, Escrow Agreement

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Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any error of judgment or for any act done or step taken or omitted by it in good faith, or for any mistake of fact or law, or for anything which it may do or refrain from doing in connection herewith, except for its negligence or default or failure in the performance of any obligation imposed upon it hereunder. The own willful misconduct, and Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations or any recitation contained in the Obligationshave no duties to anyone except those signing these instructions.

Appears in 1 contract

Samples: Escrow Agreement (High Speed Net Solutions Inc)

Liability of Escrow Agent. To the extent permitted by law, the Escrow Agent shall not be liable for any act done or step taken or omitted by it or any mistake of fact or law, except for its gross negligence or default or failure in the performance of any obligation imposed upon it hereunder. The Escrow Agent shall not be responsible in any manner for any proceedings in connection with the Obligations Bonds or any recitation contained in the ObligationsBonds.

Appears in 1 contract

Samples: Escrow Agreement

Liability of Escrow Agent. To the extent permitted by law, the The Escrow Agent shall not be liable for any act done mistakes of fact, or step taken errors of judgment, or omitted by it for any acts or any mistake of fact or law, except for its negligence or default or failure in the performance omission of any obligation imposed upon it hereunderkind unless caused by the bad faith, willful misconduct or gross negligence of the Escrow Agent. The Without limiting the foregoing, Escrow Agent shall not be responsible in liable for taking any manner for action which is dependent or conditioned upon the taking of any proceedings in connection with action by any person or entity other than the Obligations or any recitation contained in the ObligationsEscrow Agent including, without limitation, SoftLock's transfer agent.

Appears in 1 contract

Samples: Escrow Agreement (Softlock Com Inc)

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