Common use of Limitations on Duties and Actions of Administrative Agent Clause in Contracts

Limitations on Duties and Actions of Administrative Agent. The duties of the Administrative Agent under the Loan Documents and in respect of the Collateral shall be deemed ministerial and administrative in nature, and the Administrative Agent shall not have, by reason of any of the Loan Documents or any of the Security Documents, a fiduciary relationship with any Specified Derivatives Provider. The Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement and the Security Documents to which it is a party. The Administrative Agent shall not be liable for any action taken or omitted by it, or any action suffered by it to be taken or omitted, excepting only its own gross negligence or willful misconduct, as finally determined by a court of competent jurisdiction. IN THE ABSENCE OF WRITTEN INSTRUCTIONS FROM THE LENDERS REQUIRED UNDER THIS AGREEMENT, THE ADMINISTRATIVE AGENT SHALL NOT BE REQUIRED TO FORECLOSE UPON ANY LIEN ENCUMBERING ANY OF THE COLLATERAL OR TAKE ANY OTHER ACTION WITH RESPECT TO THE COLLATERAL OR ANY PART THEREOF. Further, Sections 11.2, 11.7, 12.2, 12.13, and 12.23 shall apply to (i) the Administrative Agent in its capacity as non-fiduciary collateral agent mutatis mutandis to the same extent as such provisions apply to the Administrative Agent in its capacity as “Administrative Agent” under the Loan Documents and (ii) each Specified Derivatives Provider in its capacity as such mutatis mutandis to the same extent as such provisions apply to a Lender under the Loan Documents. Each Specified Derivatives Provider hereby acknowledges and agrees that it has received and reviewed the Loan Documents.

Limitations on Duties and Actions of Administrative Agent. The duties of the Administrative Agent under the Loan Documents and in respect of the Collateral shall be deemed ministerial and administrative in nature, and the Administrative Agent shall not have, by reason of any of the Loan Documents or any of the Security Collateral Documents, a fiduciary relationship with any Specified Derivatives ProviderApproved Counterparty. The Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement and the Security Collateral Documents to which it is a party. The Administrative Agent shall not be liable for any action taken or omitted by it, or any action suffered by it to be taken or omitted, excepting only its own gross negligence or willful misconduct, as finally determined by a court of competent jurisdiction. IN THE ABSENCE OF WRITTEN INSTRUCTIONS FROM THE LENDERS REQUIRED UNDER THIS AGREEMENT, THE ADMINISTRATIVE AGENT SHALL NOT BE REQUIRED TO FORECLOSE UPON ANY LIEN ENCUMBERING ANY OF THE COLLATERAL OR TAKE ANY OTHER ACTION WITH RESPECT TO THE COLLATERAL OR ANY PART THEREOF. Further, Sections 11.210.03, 11.710.04, 12.210.05, 12.1310.07, 11.04(c), 11.14, 11.15 and 12.23 11.21 shall apply to (i) the Administrative Agent in its capacity as non-fiduciary collateral agent mutatis mutandis to the same extent as such provisions apply to the Administrative Agent in its capacity as “Administrative Agent” under the Loan Documents and (ii) each Specified Derivatives Provider Approved Counterparty in its capacity as such mutatis mutandis to the same extent as such provisions apply to a Lender under the Loan Documents. Each Specified Derivatives Provider Approved Counterparty hereby acknowledges and agrees that it has received and reviewed the Loan Documents.

Limitations on Duties and Actions of Administrative Agent. The duties of the Administrative Agent under the Loan Documents and in respect of the Collateral hereunder shall be deemed ministerial and administrative in nature, and the Administrative Agent shall not have, by reason of any of the Loan Documents this Agreement or any of the Security Collateral Documents, a fiduciary relationship with any Specified Derivatives ProviderSwap Counterparty or its Affiliates. The Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement and the Security Collateral Documents to which it is a party. The Administrative Agent shall not be liable for any action taken or omitted by it, or any action suffered by it to be taken or omitted, excepting only its own gross negligence or willful misconduct, as finally determined by a court of competent jurisdiction. IN THE ABSENCE OF WRITTEN INSTRUCTIONS FROM THE LENDERS REQUIRED UNDER THIS THE CREDIT AGREEMENT, THE ADMINISTRATIVE AGENT SHALL NOT BE REQUIRED TO FORECLOSE UPON ANY LIEN ENCUMBERING WITH RESPECT TO ANY OF THE COLLATERAL OR TAKE ANY OTHER ACTION WITH RESPECT TO THE COLLATERAL OR ANY PART THEREOF. Further, Sections 11.210.03, 11.710.04, 12.210.05, 12.1310.07, 11.04(c), 11.14, 11.15 and 12.23 11.21 of the Credit Agreement shall apply to (i) the Administrative Agent in its capacity as non-fiduciary collateral agent mutatis mutandis to the same extent as such provisions apply to the Administrative Agent in its capacity as “Administrative Agent” under the Loan Documents and (ii) each Specified Derivatives Provider Approved Counterparty in its capacity as such mutatis mutandis to the same extent as such provisions apply to a Lender under the Loan Documents. Each Specified Derivatives Provider Swap Counterparty hereby acknowledges and agrees that it has received and reviewed the Loan Credit Agreement and the Collateral Documents.

Limitations on Duties and Actions of Administrative Agent. The duties of the Administrative Agent under the Loan Documents and in respect of the Pledged Collateral shall be deemed ministerial and administrative in nature, and the Administrative Agent shall not have, by reason of any of the Loan Documents or any of the Security Collateral Documents, a fiduciary relationship with any Specified Derivatives ProviderApproved Counterparty. The Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement and the Security Collateral Documents to which it is a party. The Administrative Agent shall not be liable for any action taken or omitted by it, or any action suffered by it to be taken or omitted, excepting only its own gross negligence negligence, bad faith or willful misconduct, as finally determined by a court of competent jurisdiction. IN THE ABSENCE OF WRITTEN INSTRUCTIONS FROM THE LENDERS REQUIRED UNDER THIS AGREEMENT, THE ADMINISTRATIVE AGENT SHALL NOT BE REQUIRED TO FORECLOSE UPON ANY LIEN ENCUMBERING ANY OF THE COLLATERAL OR TAKE ANY OTHER ACTION WITH RESPECT TO THE COLLATERAL OR ANY PART THEREOF. Further, Sections 11.28.03, 11.78.04, 12.28.05, 12.138.07, 9.03(c), 9.09 and 12.23 9.10 shall apply to (i) the Administrative Agent in its capacity as non-fiduciary collateral agent mutatis mutandis to the same extent as such provisions apply to the Administrative Agent in its capacity as “Administrative Agent” under the Loan Documents and (ii) each Specified Derivatives Provider Approved Counterparty in its capacity as such mutatis mutandis to the same extent as such provisions apply to a Lender under the Loan Documents. Each Specified Derivatives Provider Approved Counterparty hereby acknowledges and agrees that it has received and reviewed the Loan Documents.

Limitations on Duties and Actions of Administrative Agent. The duties of the Administrative Agent under the Loan Documents and in respect of the Collateral hereunder shall be deemed ministerial and administrative in nature, and the Administrative Agent shall not have, by reason of any of the Loan Documents this Agreement or any of the Security Documents, a fiduciary relationship with any Specified Derivatives ProviderSwap Counterparty or its Affiliates. The Administrative Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement and the Security Documents to which it is a party. The Administrative Agent shall not be liable for any action taken or omitted by it, or any action suffered by it to be taken or omitted, excepting only its own gross negligence or willful misconduct, as finally determined by a court of competent jurisdiction. IN THE ABSENCE OF WRITTEN INSTRUCTIONS FROM THE LENDERS REQUIRED UNDER THIS THE CREDIT AGREEMENT, THE ADMINISTRATIVE AGENT SHALL NOT BE REQUIRED TO FORECLOSE UPON ANY LIEN ENCUMBERING WITH RESPECT TO ANY OF THE COLLATERAL OR TAKE ANY OTHER ACTION WITH RESPECT TO THE COLLATERAL OR ANY PART THEREOF. Further, Sections 11.1, 11.2, 11.6, 11.7, 12.2, 12.13, 12.5(a) and 12.23 of the Credit Agreement shall apply to (i) the Administrative Agent in its capacity as non-fiduciary collateral agent mutatis mutandis to the same extent as such provisions apply to the Administrative Agent in its capacity as “Administrative Agent” under the Loan Documents and (ii) each Specified Derivatives Provider Approved Counterparty in its capacity as such mutatis mutandis to the same extent as such provisions apply to a Lender under the Loan Documents. Each Specified Derivatives Provider Swap Counterparty hereby acknowledges and agrees that it has received and reviewed the Loan Credit Agreement and the Security Documents.