Common use of Nature of Duties of Agent Clause in Contracts

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither Agent nor any of its partners, officers, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, except as expressly set forth herein.

Appears in 2 contracts

Samples: Loan and Security Agreement (nFinanSe Inc.), Loan and Security Agreement (nFinanSe Inc.)

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Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither Agent nor any of its partnersofficers, officersdirectors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Loan Agreement (CURO Group Holdings Corp.)

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither Agent nor any of its partnersofficers, officersdirectors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; , and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Loan and Security Agreement (C & F Financial Corp)

Nature of Duties of Agent. Agent shall not have no duties duties, obligations or responsibilities except those expressly set forth in this AgreementAgreement and the Other Agreements. Neither Agent nor any of its partnersofficers, officersdirectors, employees or agents shall not be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Cobra Electronics Corp)

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this AgreementAgreement and other Loan documents. Neither Agent nor None of Agent, or any of its partnersofficers, officersdirectors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Anchor Funding Services, Inc.)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither The Agent nor any of its partners, officers, employees or agents shall not be liable for any action taken or omitted by it him as such hereunder or in connection herewith, unless caused by its gross negligence or their willful misconduct. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any LenderSecured Party; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Security Agreement (Resolve Staffing Inc)

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Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in this the Agreement. Neither Agent nor any of its partnersofficers, officersdirectors, employees or agents shall be liable to any other Lender for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this the Agreement a fiduciary relationship in respect of any Lender; and nothing in this the Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, the Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Loan and Security Agreement (Amcon Distributing Co)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement. Neither the Agent nor any of its partnersofficers, officersdirectors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement, except as expressly set forth herein.

Appears in 1 contract

Samples: Credit and Security Agreement (Movie Star Inc /Ny/)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth with respect to the Agent in this Agreement. Neither Agent the Agent, nor any of its partnersrespective officers, officersdirectors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its gross negligence or their willful misconduct. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Agreement, Agreement except as expressly set forth herein.

Appears in 1 contract

Samples: Credit Agreement (Puretec Corp)

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