Common use of Limited Obligation or Liability Clause in Contracts

Limited Obligation or Liability. (i) In exercising remedies, whether as a secured creditor or otherwise, the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to the First Lien Term Loan Agent, any First Lien Term Loan Secured Party, the Second Lien Term Loan Agent or any Second Lien Term Loan Secured Party regarding the adequacy of any Proceeds 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. In exercising remedies, whether as a secured creditor or otherwise, the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to any Additional Term Agent or any Additional Term Secured Party, regarding the adequacy of any Proceeds 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 (except as may be separately otherwise agreed in writing by and between such Additional Term Agent, on behalf of itself and the Additional Term Secured Parties represented thereby, and the ABL Agent, on behalf of itself and the ABL Secured Parties).

Appears in 3 contracts

Samples: Intercreditor Agreement (Us LBM Holdings, Inc.), Intercreditor Agreement (Us LBM Holdings, Inc.), Intercreditor Agreement (Us LBM Holdings, Inc.)

AutoNDA by SimpleDocs

Limited Obligation or Liability. (i) In exercising remedies, whether as a secured creditor or otherwiseotherwise (including the Exercise of Secured Creditor Remedies), the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to the First Lien Term Loan Agent, any First Lien Term Loan Secured Party, the Second Lien Term Loan [Cash Flow] Agent or any Second Lien Term Loan [Cash Flow] Secured Party regarding the adequacy of any Proceeds 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. In exercising remedies, whether as a secured creditor or otherwiseotherwise (including the Exercise of Secured Creditor Remedies), the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to any Additional Term Agent or any Additional Term Secured Party, regarding the adequacy of any Proceeds 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 (except as may be separately otherwise agreed in writing by and between such Additional Term Agent, on behalf of itself and the Additional Term Secured Parties represented thereby, and the ABL Agent, on behalf of itself and the ABL Secured Parties).

Appears in 2 contracts

Samples: Assumption Agreement (Veritiv Corp), Assumption Agreement (Veritiv Corp)

Limited Obligation or Liability. (i) In exercising remedies, whether as a secured creditor or otherwise, the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to the First Lien Term Loan Agent, any First Lien Term Loan Secured PartyLender, the Second Lien Term Loan any Additional Agent or any Second Lien Additional Creditor, the Term Loan Secured Party Agent shall have no obligation or liability to the ABL Agent, any ABL Lender, any Additional Agent or any Additional Creditor, and any Additional Agent shall have no obligation or liability to the Term Agent, any Term Lender, the ABL Agent or any ABL Lender, regarding the adequacy of any Proceeds 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. In addition, except as may be separately otherwise agreed by and between or among any applicable Additional Agents, in exercising remedies, whether as a secured creditor or otherwise, the ABL any Additional Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to any other Additional Term Agent or any Additional Term Secured Party, Creditors represented by such other Additional Agent regarding the adequacy of any Proceeds 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 (except as may be separately otherwise agreed in writing by and between such Additional Term Agent, on behalf of itself and the Additional Term Secured Parties represented thereby, and the ABL Agent, on behalf of itself and the ABL Secured Parties)Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (New Sally Holdings, Inc.)

AutoNDA by SimpleDocs

Limited Obligation or Liability. (i) In exercising remedies, whether as a secured creditor or otherwise, the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to the First Lien [Term Loan Agent, any First Lien Term Loan Secured Party, the Second Lien Term Loan Loan] Agent or any Second Lien [Term Loan Loan] Secured Party regarding the adequacy of any Proceeds 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. In exercising remedies, whether as a secured creditor or otherwise, the ABL Agent (including in its capacity as ABL Collateral Representative, if applicable) shall have no obligation or liability to any Additional Term [Term] Agent or any Additional Term [Term] Secured Party, regarding the adequacy of any Proceeds 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 (except as may be separately otherwise agreed in writing by and between such Additional Term [Term] Agent, on behalf of itself and the Additional Term [Term] Secured Parties represented thereby, and the ABL Agent, on behalf of itself and the ABL Secured Parties).

Appears in 1 contract

Samples: Intercreditor Agreement (Uci Holdings LTD)

Time is Money Join Law Insider Premium to draft better contracts faster.