Common use of Limitations on Duties of Collateral Agent Clause in Contracts

Limitations on Duties of Collateral Agent. (a) The Collateral Agent shall be obligated to perform such duties and only such duties as are specifically set forth in this Agreement and the Security Documents, and no implied covenants or obligations shall be read into this Agreement or any Security Document against the Collateral Agent. The Collateral Agent may, subject to the provisions of clause (b) of Section 2.4, exercise the rights and powers vested in the Collateral Agent by this Agreement and the Security Documents, and shall not be liable with respect to any action taken, or omitted to be taken, in accordance with Requisite Instructions delivered to the Collateral Agent.

Limitations on Duties of Collateral Agent. (a) The Collateral Agent shall be obligated to perform such duties and only such duties as are specifically set forth in this Collateral Agent Agreement and the Security DocumentsAgreements, and no implied covenants or obligations shall be read into this Collateral Agent Agreement or any Security Document Agreement against the Collateral Agent. The Collateral Agent may, subject to the provisions of clause (b) of Section 2.4, may exercise the rights and powers vested in the it by this Collateral Agent by this Agreement and the Security DocumentsAgreements, and shall not be liable with respect to any action takentaken by it, or omitted to be taken, in accordance with Requisite Instructions delivered to the Collateral Agenttaken by it.