Common use of Limited Duties Clause in Contracts

Limited Duties. Under the Loan Documents, each of the Agents (i) is acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable (except to the limited extent provided in subsection 1.4(b) with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms “Administrative Agent” and “Revolver Agent” or the terms “agent” and “collateral agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver Agent, as applicable, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any other Person and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Secured Party by accepting the benefits of the Loan Documents hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth in this Agreement. The permissive rights of the Agents to do things enumerated in this Agreement shall not be construed as a duty and, with respect to such permissive rights, the Agents shall not be liable other than as a result of their gross negligence or willful misconduct.

Appears in 5 contracts

Samples: Credit Agreement (SelectQuote, Inc.), Credit Agreement (SelectQuote, Inc.), Credit Agreement (SelectQuote, Inc.)

AutoNDA by SimpleDocs

Limited Duties. Under the Loan Documents, each of the Agents (i) is are acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable Issuing Banks (except to the limited extent provided in subsection 1.4(b) Section 2.15 with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms “term “ Administrative Agent” and ”, Revolver Collateral Agent” or the terms “agent,” “administrative agent” and “collateral agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver the Collateral Agent, as applicable, which terms are used for title purposes only, (ii) is are not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any Issuing Bank or any other Person Secured Party and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Secured Party by accepting the benefits of the Loan Documents Lender and each Issuing Bank hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver any Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth in this Agreement. The permissive rights None of the Agents to do things enumerated in Persons identified on the facing page of this Agreement shall not be construed as a “syndication agent” or “documentation agent” shall have any right, power, obligation, liability, responsibility or duty andunder this Agreement other than, with respect in the case of such Persons that are also Lenders or Issuing Banks, those obligations applicable to such permissive rights, the Agents shall not be liable other than as a result of their gross negligence or willful misconductLenders and Issuing Banks.

Appears in 3 contracts

Samples: Management Services Agreement (Cinedigm Corp.), Credit Agreement (Cinedigm Corp.), Guaranty Agreement (Cinedigm Corp.)

Limited Duties. Under the Loan Documents, each of Collateral Agent and the Agents Agent (i) is acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable Issuers (except to the limited extent provided in subsection 1.4(b) with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms term Administrative Agent” and “Revolver Agent” or ”, the terms “agent” and ”, “Agent”, “collateral agent”, “Collateral Agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver Agent, as applicable, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any other Person and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Secured Party by accepting the benefits of the Loan Documents Lender and L/C Issuer hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth title of Documentation Agent is purely administrative in this Agreementnature. The permissive rights Documentation Agent named on the cover of the Agents to do things enumerated in this Agreement shall not be construed as a duty and, with respect to such permissive rights, the Agents shall not be liable have no duties or liabilities hereunder other than as a result of their gross negligence or willful misconductthose duties and liabilities applicable to any Lender.

Appears in 2 contracts

Samples: Credit Agreement (International Textile Group Inc), Credit Agreement (International Textile Group Inc)

Limited Duties. Under the Loan Documents, each of the Agents Agent (i) is acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable Secured Parties (except to the limited extent provided in subsection 1.4(b) with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms term Administrative Agent” and “Revolver Agent” or ”, the terms “agent”, “Agent” and “collateral agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver Agent, as applicable, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any other Person Person, regardless of whether a Default or Event of Default shall have occurred and is continuing, and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan DocumentDocument and shall not be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether Agent has been advised of the likelihood of such loss or damage and regardless of the form of action, and each Secured Party Party, by accepting the benefits of the Loan Documents Documents, hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth in this Agreement. The permissive rights of the Agents to do things enumerated in this Agreement shall not be construed as a duty and, with respect to such permissive rights, the Agents shall not be liable other than as a result of their gross negligence or willful misconduct.

Appears in 1 contract

Samples: Credit Agreement (Radioshack Corp)

AutoNDA by SimpleDocs

Limited Duties. Under the Loan Documents, each of the Agents Agent (i) is acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable Issuers (except to the limited extent provided in subsection 1.4(b) with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms term Administrative Agent” and “Revolver Agent” or ”, the terms “agent”, “Agent” and “collateral agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver Agent, as applicable, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any other Person and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Secured Party by accepting the benefits of the Loan Documents Lender and L/C Issuer hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth title of Documentation Agent is purely administrative in this Agreementnature. The permissive rights Co-Documentation Agents named on the cover of the Agents to do things enumerated in this Agreement shall not be construed as a duty and, with respect to such permissive rights, the Agents shall not be liable have no duties or liabilities hereunder other than as a result of their gross negligence or willful misconductthose duties and liabilities applicable to any Lender.

Appears in 1 contract

Samples: Credit Agreement (International Textile Group Inc)

Limited Duties. Under the Loan Documents, each of the Agents Agent (i) is acting solely on behalf of the Lenders or the Revolving Lenders and the L/C Issuers, as applicable Secured Parties (except to the limited extent provided in subsection 1.4(b) with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms term Administrative Agent” and “Revolver Agent” or ”, the terms “agent”, “Agent” and “collateral agent” and similar terms in any Loan Document to refer to the Administrative Agent or Revolver Agent, as applicable, which terms are used for title purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender, L/C Issuer Lender or any other Person Person, regardless of whether a Default or Event of Default shall have occurred and is continuing, and (iii) shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan DocumentDocument and shall not be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether Agent has been advised of the likelihood of such loss or damage and regardless of the form of action, and each Secured Party Party, by accepting the benefits of the Loan Documents Documents, hereby waives and agrees not to assert any claim against the Administrative Agent or the Revolver Agent based on the roles, duties and legal relationships expressly disclaimed in clauses (i) through (iii) above. The Agents undertake to perform such duties and only such duties as are specifically and expressly set forth in this Agreement. The permissive rights of the Agents to do things enumerated in this Agreement shall not be construed as a duty and, with respect to such permissive rights, the Agents shall not be liable other than as a result of their gross negligence or willful misconduct.

Appears in 1 contract

Samples: Possession Credit Agreement (Radioshack Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!