Common use of Limitation of Agent’s Liability Clause in Contracts

Limitation of Agent’s Liability. (a) Neither Agent nor any of its Representatives shall be liable for any action taken or omitted to be taken by it or them under the Loan Documents in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents or be responsible for the consequences of any error of judgment or negligence, except for gross negligence or willful misconduct, and neither Agent nor any of its Representatives has a fiduciary relationship with any Lender by virtue of the Loan Documents (provided that nothing herein shall negate the obligation of Agent to account for funds received by it for the account of any Lender).

Appears in 4 contracts

Samples: Revolving Loan Agreement (Amresco Inc), Revolving Credit Agreement (Travis Boats & Motors Inc), Loan Agreement (Amresco Inc)

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Limitation of Agent’s Liability. (a) a. Neither Agent nor any of its Representatives shall representatives will be liable for any action taken or omitted to be taken by it or them under the Loan Documents Papers in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents Papers or be responsible for the consequences of any error of judgment or (except for fraud, gross negligence, except for gross negligence or willful misconduct), and neither Agent nor any of its Representatives representatives has a fiduciary relationship with any Lender by virtue of the Loan Documents Papers (provided that but nothing herein shall negate in this Agreement negates the obligation of Agent to account for funds received by it for the account of any Lender).

Appears in 2 contracts

Samples: Loan Agreement (Pool Energy Services Co), Credit Agreement (Pool Energy Services Co)

Limitation of Agent’s Liability. (a) Neither any Agent nor any of its Representatives shall be liable for any action taken or omitted to be taken by it or them under the Loan Documents in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents or be responsible for the consequences of any error of judgment or negligence, except for gross negligence or willful misconduct, and neither any Agent nor any of its Representatives has a fiduciary relationship with any Lender by virtue of the Loan Documents (provided that nothing herein shall negate the obligation of any Agent to account for funds received by it for the account of any Lender).

Appears in 2 contracts

Samples: Credit Agreement (Amresco Inc), Credit Agreement (Amresco Inc)

Limitation of Agent’s Liability. (a) Neither Agent nor any of its Representatives shall Affiliates, Representatives, successors or assigns will be liable for any action taken or omitted to be taken by it or them under the Loan Documents Papers in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents Papers or be responsible for the consequences of any error of judgment or negligence, (except for fraud, gross negligence or willful misconduct), and neither Agent nor any none of its Representatives them has a fiduciary relationship with any Lender by virtue of the Loan Documents Papers (provided that but nothing herein shall negate in this Agreement negates the obligation of Agent to account for funds received by it for the account of any Lender).

Appears in 2 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Morningstar Group Inc)

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Limitation of Agent’s Liability. (a) Neither Agent nor any of its Representatives shall Affiliates, Representatives, successors or assigns will be liable for any action taken or omitted to be taken by it or them under the Loan Documents in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents or be responsible for the consequences of any error of judgment or negligence, (except for fraud, gross negligence or willful misconduct), and neither Agent nor any none of its Representatives them has a fiduciary relationship with any Lender by virtue of the Loan Documents (provided that but nothing herein shall negate in this Agreement negates the obligation of Agent to account for funds received by it for the account of any Lender).

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Limitation of Agent’s Liability. (ai) Neither Agent nor any of its Representatives shall will be liable for any action taken or omitted to be taken by it or them under the Loan Documents in good faith and believed by it or them to be within the discretion or power conferred upon it or them by the Loan Documents or be responsible for the consequences of any error of judgment or negligence, (except for fraud, gross negligence or willful misconduct), and neither Agent nor any of its Representatives has a fiduciary relationship with any Lender by virtue of the Loan Documents (provided that but nothing herein shall negate in this Agreement negates the obligation of Agent to account for funds received by it for the account of any Lender).

Appears in 1 contract

Samples: Credit Agreement (Michael Petroleum Corp)

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