Common use of Limitation of Obligations Clause in Contracts

Limitation of Obligations. Except to use the same standard of care that it ordinarily uses for collateral for its sole benefit, Administrative Agent has no obligation whatsoever to any Lender or to any other Person to assure that the Collateral exists or is owned by any Company or is cared for, protected, or insured or has been encumbered or that the Lender Liens have been properly or sufficiently or lawfully created, perfected, protected, or enforced or are entitled to any particular priority.

Limitation of Obligations. Except to use the same standard of care that it ordinarily uses for collateral for its sole benefit, Administrative Agent has no obligation whatsoever to any Lender or to any other Person to assure that the Collateral exists or is owned by any Company or is cared for, protected, protected or insured or has been encumbered or that the Lender Liens have been properly or sufficiently or lawfully created, perfected, protected, protected or enforced or are entitled to any particular priority.