Common use of Limitations on Duties of the Trustees Clause in Contracts

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral Trustees. (b) The Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the Representatives. (c) Except as herein otherwise expressly provided, the Collateral Trustees shall not be under any obligation to take any action which is discretionary with the Collateral Trustees under the provisions hereof or under any Shared Collateral Document except upon the written request of the Representatives and subject to the provisions of Section 4.04(b). The Collateral Trustees shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees by the Company, by any Representative, or by any other Person, under or in respect of this Agreement, any Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees shall be under no obligation to exercise any of the rights or powers vested in them by this Agreement at the request or direction of any Representatives pursuant to this Agreement, unless such Representatives shall have offered to the Collateral Trustees security or indemnity satisfactory to the Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction.

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral Trustees. (b) The Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the Required Representatives. (c) Except as herein otherwise expressly provided, the Collateral Trustees shall not be under any obligation to take any action which is discretionary with the Collateral Trustees under the provisions hereof or under any Shared Collateral Document except upon the written request of the Representatives and subject to the provisions of Section 4.04(b)Required Representatives. The Collateral Trustees shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees by the CompanyGrantor, by any Representative, or by any other Person, under or in respect of this Agreement, any Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees shall be under no obligation to exercise any of the rights or powers vested in them by this Agreement or any other Shared Collateral Document at the request or direction of any Representatives pursuant to this Agreement, unless such Representatives shall have offered to the Collateral Trustees security or indemnity satisfactory to the Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction.

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral Trustees. (b) The Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the Required Representatives. (c) Except as herein otherwise expressly provided, the Collateral Trustees shall not be under any obligation to take any action which is discretionary with the Collateral Trustees under the provisions hereof or under any Shared Collateral Document except upon the written request of the Representatives and subject to the provisions of Section 4.04(b)Required Representatives. The Collateral Trustees shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees by the Companyany Pledgor, by any Representative, or by any other Person, under or in respect of this Agreement, any Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees shall be under no obligation to exercise any of the rights or powers vested in them by this Agreement or any other Collateral Document at the request or direction of any Representatives pursuant to this Agreement, unless such Representatives shall have offered to the Collateral Trustees security or indemnity satisfactory to the Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction.

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral Trustees. (b) The Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the other Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the RepresentativesRequired Representative(s). (c) Except as herein otherwise expressly provided, the Collateral Trustees shall not be under any obligation to take any action which is discretionary with the Collateral Trustees under the provisions hereof or under any other Shared Collateral Document except upon the written request of the Representatives and subject to the provisions of Section 4.04(bRequired Representative(s). The Collateral Trustees shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees by the CompanyGrantors, by any Representative, or by any other Person, under or in respect of this Agreement, any other Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees shall be under no obligation to exercise any of the rights or powers vested in them by this Agreement or any other Shared Collateral Document at the request or direction of any Representatives pursuant to this Agreement, unless such Representatives shall have offered to the Collateral Trustees security or indemnity satisfactory to the Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction. (e) Each Secured Holder (other than the Agents and any other Representative, in its capacity as a "representative") shall, ratably (determined as provided below) indemnify the Collateral Trustees, each of their respective Affiliates and the respective directors, officers, agents and employees of any of them (to the extent not reimbursed by the Borrower) against any cost, expense (including counsel fees and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees' gross negligence or willful misconduct) (an "Indemnified Event") that such indemnitees may suffer or incur in connection with its exercise of rights and remedies with respect to the Account Collateral and the Securities Accounts. For purposes of this Section 7.05(e), each Secured Holder's ratable share shall be based on the amounts owing to each such Secured Holder under its respective Secured Agreement at the time the Indemnified Event arose. (f) The Obligations of the Collateral Trustees hereunder are several and not joint.

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral Trustees. (b) The Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the Required Representatives. (c) Except as herein otherwise expressly provided, the Collateral Trustees shall not be under any obligation to take any action which is discretionary with on the part of the Collateral Trustees under the provisions hereof or under any Shared Collateral Document Document, except upon the written request of the Representatives and subject to the provisions of Section 4.04(b)Required Representatives. The Collateral Trustees shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees by the Companyany Pledgor, by any Representative, or by any other Person, under or in respect of this Agreement, any Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees shall be under no obligation to exercise exercise, at the request or direction of any Representatives pursuant to this Agreement, any of the rights or powers vested in them by this Agreement at the request or direction of any Representatives pursuant to this Agreementother Collateral Document, unless such Representatives shall have offered to the Collateral Trustees security or indemnity satisfactory to the Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction.

Limitations on Duties of the Trustees. (a) The Collateral Trustees undertake Trustee undertakes to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Collateral TrusteesTrustee. (b) The Collateral Trustees Trustee may exercise the rights and powers granted to them it by this Agreement and the Shared Collateral Documents, but only pursuant to the terms of this Agreement, and the Collateral Trustees Trustee shall not be liable with respect to any action taken or omitted by them it in accordance with the direction of the Required Representatives. (c) Except as herein otherwise expressly provided, the Collateral Trustees Trustee shall not be under any obligation to take any action which is discretionary with the Collateral Trustees Trustee under the provisions hereof or under any Shared Collateral Document (including, without limitation, the giving of any consent, notice or request) except upon the written request of the Representatives and subject to the provisions of Section 4.04(b)Required Representatives. The Collateral Trustees Trustee shall make available for inspection and copying by each Representative each certificate or other paper furnished to the Collateral Trustees Trustee by the Companyany Grantor, by any Representative, or by any other Person, under or in respect of this Agreement, any Shared Collateral Document or any of the Collateral Trust Estate. (d) The Collateral Trustees Trustee shall be under no obligation to exercise any of the rights or powers vested in them it by this Agreement or any other Collateral Document at the request or direction of any Representatives pursuant to this Agreement, unless such Representatives shall have offered to the Collateral Trustees Trustee, prepayment, security or indemnity satisfactory to the Collateral Trustees Trustee against the costs, expenses and liabilities which might be incurred by them it in compliance with such request or direction. (e) The Collateral Trustee shall have no duty or responsibility with respect to the preparation, filing, or recording of any financing statements or continuation statement, or similar documents, or of the giving of any notice, except that the Collateral Trustee will, upon written request, execute such of the same as may have been prepared for filing, recordation, etc. by the Company provided the Collateral Trustee does not believe it will be exposed to liability by reason of its executing the same; PROVIDED FURTHER that the Company shall have confirmed to the Collateral Trustee that it shall be entitled to rely on the indemnification provisions of Section 6.06 in connection with the foregoing.

Limitations on Duties of the Trustees. (a) The Second Priority Collateral Trustees undertake to perform only the duties expressly set forth herein and no implied covenant or obligation shall be read into this Agreement against the Second Priority Collateral Trustees. (b) The Second Priority Collateral Trustees may exercise the rights and powers granted to them by this Agreement and the Shared other Second Priority Collateral Documents, but only pursuant to the terms of this Agreement, and the Second Priority Collateral Trustees shall not be liable with respect to any action taken or omitted by them in accordance with the direction of the RepresentativesRequired Second Priority Representative(s). (c) Except as herein otherwise expressly provided, the Second Priority Collateral Trustees shall not be under any obligation to take any action which is discretionary with the Second Priority Collateral Trustees under the provisions hereof or under any Shared other Second Priority Collateral Document except upon the written request of the Representatives and subject to the provisions of Section 4.04(bRequired Second Priority Representative(s). The Second Priority Collateral Trustees shall make available for inspection and copying by each Second Priority Representative each certificate or other paper furnished to the Second Priority Collateral Trustees by the CompanyGrantors, by any Second Priority Representative, or by any other Person, under or in respect of this Agreement, any Shared other Second Priority Collateral Document or any of the Second Priority Collateral Trust Estate. (d) The Second Priority Collateral Trustees shall be under no obligation to exercise any of the rights or powers vested in them by this Agreement or any other Second Priority Collateral Document at the request or direction of any Second Priority Representatives pursuant to this Agreement, unless such Second Priority Representatives shall have offered to the Second Priority Collateral Trustees security or indemnity satisfactory to the Second Priority Collateral Trustees against the costs, expenses and liabilities which might be incurred by them in compliance with such request or direction. (e) Each Second Priority Secured Holder (other than the Senior Note Trustee and any other Second Priority Representative, in its capacity as a “representative”) shall, ratably (determined as provided below) indemnify the Second Priority Collateral Trustees, each of their respective Affiliates and the respective directors, officers, agents and employees of any of them (to the extent not reimbursed by the Borrower) against any cost, expense (including counsel fees and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’ gross negligence or willful misconduct) (an “Indemnified Event”) that such indemnitees may suffer or incur in connection with its exercise of rights and remedies with respect to the Account Collateral and the Securities Accounts. For purposes of this Section 7.05(e), each Second Priority Secured Holder’s ratable share shall be based on the amounts owing to each such Second Priority Secured Holder under its respective Second Priority Secured Agreement at the time the Indemnified Event arose. (f) The Obligations of the Second Priority Collateral Trustees hereunder are several and not joint.