Limited Obligation or Liability. In exercising remedies, whether as a secured creditor or otherwise, the ABL Collateral Agent shall have no obligation or liability to the CF Collateral Agent or CF Secured Party regarding the adequacy of any proceeds realized on any collateral or for any action or omission, save and except solely for an action or omission that breaches the express obligations undertaken by each Party under the terms of this Agreement. Notwithstanding anything to the contrary herein contained, none of the Parties hereto waives any claim that it may have against a Secured Party on the grounds that and sale, transfer or other disposition by the Secured Party was not commercially reasonable in every respect as required by the UCC.
Appears in 4 contracts
Samples: Intercreditor Agreement (LVB Acquisition, Inc.), Intercreditor Agreement (CC Media Holdings Inc), Security Agreement (Clear Channel Communications Inc)
Limited Obligation or Liability. In exercising remedies, whether as a secured creditor or otherwise, the ABL Collateral Agent shall have no obligation or liability to the CF Notes Collateral Agent or CF any Notes Secured Party regarding the adequacy of any proceeds realized on any collateral or for any action or omission, save and except solely for an action or omission that breaches the express obligations undertaken by each Party under the terms of this Agreement. Notwithstanding anything to the contrary herein contained, none of the Parties hereto waives any claim that it may have against a Secured Party on the grounds that and any sale, transfer or other disposition by the Secured Party was not commercially reasonable in every respect as required by the UCC.
Appears in 3 contracts
Samples: Intercreditor Agreement (Ryerson Holding Corp), Intercreditor Agreement (Ryerson International Material Management Services, Inc.), Intercreditor Agreement (J.M. Tull Metals Company, Inc.)
