Common use of Nature of Duties Clause in Contracts

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 188 contracts

Samples: Security Agreement (Dih Holding Us, Inc.), Subordinated Security Agreement (ProSomnus, Inc.), Senior Security Agreement (ProSomnus, Inc.)

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Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 27 contracts

Samples: Pledge and Security Agreement (FONU2 Inc.), Pledge and Security Agreement (Ifan Financial, Inc.), Loan and Security Agreement (Aduromed Industries, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any the Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 9 contracts

Samples: Amended and Restated Security Agreement (Theralink Technologies, Inc.), Security Agreement (Theralink Technologies, Inc.), Security Agreement (LifeMD, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, managers, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 8 contracts

Samples: Security Agreement (Ensysce Biosciences, Inc.), Security Agreement (Greenwave Technology Solutions, Inc.), Security Agreement (Digital Ally, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 6 contracts

Samples: Security Agreement (Endexx Corp), Security Agreement (Endexx Corp), Security Agreement (Endexx Corp)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 6 contracts

Samples: Patent and Trademark Security Agreement (YayYo, Inc.), Security Agreement (YayYo, Inc.), Security Agreement (xG TECHNOLOGY, INC.)

Nature of Duties. (a) The Administrative Agent in its capacity as such shall not have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent in its capacity as such nor any of its partners, members, shareholders, officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured PartyNote; and nothing in the this Agreement or in any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 6 contracts

Samples: Abl Credit Agreement (Tesla, Inc.), Amendment and Restatement Agreement (Tesla, Inc.), Credit Agreement (Ciena Corp)

Nature of Duties. (a) The Administrative Agent in its capacity as such shall have no duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent in its capacity as such nor any of its partners, members, shareholders, officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured PartyNote; and nothing in the this Agreement or in any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 5 contracts

Samples: Credit Agreement (Endeavour International Corp), Credit Agreement (Endeavour International Corp), Credit Agreement (NightHawk Radiology Holdings Inc)

Nature of Duties. The Security Agent shall have no duties or responsibilities except those expressly set forth in the this Agreement. Neither the Security Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewithherewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Security Agent shall be mechanical and administrative in nature; the Security Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 5 contracts

Samples: Security Agreement, Form of Security Agreement (Xenonics Holdings, Inc.), Security Agreement (Authentidate Holding Corp)

Nature of Duties. The Neither the Administrative Agent nor the Syndication Agent in their capacity as such shall have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent, the Syndication Agent in their capacity as such nor any of its partners, members, shareholders, their respective officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionmisconduct. The duties of the Administrative Agent and the Syndication Agent shall be mechanical and administrative in nature; neither the Administrative Agent nor the Syndication Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Bank or the holder of any Secured PartyNote; and nothing in the this Agreement or any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent or the Syndication Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 5 contracts

Samples: Pledge Agreement (Doubletree Corp), And (Omniquip International Inc), Credit Agreement (Omniquip International Inc)

Nature of Duties. (a) The Administrative Agent shall not have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent nor any of its partners, members, shareholders, officers, directors, agents, employees or agents Affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or any of their gross negligence negligence, bad faith or willful misconduct (in each case, as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; , the Administrative Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured Party; Note and nothing in the this Agreement or in any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 4 contracts

Samples: Credit Agreement (Dynegy Inc.), Credit Agreement (PPL Energy Supply LLC), Credit Agreement (Talen Energy Holdings, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the this Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the this Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the this Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the this Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the this Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 4 contracts

Samples: Pledge and Security Agreement (Guardian 8 Holdings), Pledge and Security Agreement (EnerJex Resources, Inc.), Pledge and Security Agreement (PRB Energy, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured PartyCreditor; and nothing in the Agreement or any other Transaction DocumentAgreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 4 contracts

Samples: Pledge and Security Agreement (Nauticus Robotics, Inc.), Security Agreement (Creatd, Inc.), Security Agreement (Anpath Group, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 3 contracts

Samples: Security Agreement (Amarantus Bioscience Holdings, Inc.), Security Agreement (Victory Electronic Cigarettes Corp), Security Agreement (Victory Electronic Cigarettes Corp)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Security Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Security Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Security Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Security Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Security Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 3 contracts

Samples: Security Agreement (Linux Gold Corp), Security Agreement (Practicexpert Inc), Security Agreement (Practicexpert Inc)

Nature of Duties. The Agent shall not have no any duties or responsibilities except those expressly set forth in the this Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, agents or employees or agents shall be liable for any action taken or omitted by it as such or them under the Agreement or hereunder any Transaction Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionmisconduct. The duties of the Agent shall be mechanical and administrative in nature; , the Agent shall not have by reason of the this Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; Purchaser, and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and thereinherein.

Appears in 3 contracts

Samples: Certificate Purchase Agreement (International Comfort Products Corp), Certificate Purchase Agreement (International Comfort Products Corp), Certificate Purchase Agreement (Avondale Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any the Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 2 contracts

Samples: Security Agreement (TNX Television Holdings Inc), Security Agreement (PERF Go-Green Holdings, Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor Grantor or any Secured Party; and nothing in the Agreement or any other Transaction DocumentAgreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 2 contracts

Samples: Security Agreement (Pure Bioscience, Inc.), Security Agreement (ZBB Energy Corp)

Nature of Duties. (a) The Administrative Agent shall not have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Bridge Loan Documents. Neither the Administrative Agent nor any of its partners, members, shareholders, officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Bridge Loan Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence negligence, bad faith or willful misconduct (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of the this Agreement or any other Transaction Bridge Loan Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured PartyNote; and nothing in the this Agreement or in any other Transaction Bridge Loan Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction Bridge Loan Document except as expressly set forth herein and or therein.

Appears in 2 contracts

Samples: Agreement Acknowledging Bridge Loan Agreement (CF Industries Holdings, Inc.), Bridge Loan Agreement (CF Industries Holdings, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor Pledgor or any Secured PartyPledgee; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Grom Social Enterprises, Inc.), Pledge and Security Agreement (ABC Funding, Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Discovery Energy Corp.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any the Debtor and ESI or any Secured PartyHolder; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Credit Agreement (Ecosphere Technologies Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents Agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Ceelox Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and thereintherein or as imposed by applicable law.

Appears in 1 contract

Samples: Security Agreement (Metalink LTD)

Nature of Duties. The Neither the Administrative Agent nor any other Agent shall have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent, any other Agent nor any of its partners, members, shareholders, their respective officers, directors, agents, affiliates or employees or agents shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent and the other Agents shall be mechanical and administrative in nature; neither the Administrative Agent nor any other Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor or any Secured PartyLender; and nothing in the this Agreement or any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent or any other Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and thereinherein.

Appears in 1 contract

Samples: Silgan Credit Agreement (Silgan Holdings Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor Pledgor or any Secured PartyPledgee; and nothing in the Agreement or any other Transaction DocumentAgreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Pledge and Security Agreement (Solar Wind Energy Tower, Inc.)

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Nature of Duties. (a) The Administrative Agent shall not have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother CreditLoan Documents. Neither the Administrative Agent nor any of its partners, members, shareholders, officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other CreditLoan Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of the this Agreement or any other Transaction CreditLoan Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured PartyNote; and nothing in the this Agreement or in any other Transaction CreditLoan Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction CreditLoan Document except as expressly set forth herein and or therein.

Appears in 1 contract

Samples: Credit Agreement (Lee Enterprises, Inc)

Nature of Duties. The Security Agent shall have no duties or responsibilities except those expressly set forth in the this Agreement. Neither the Security Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewithherewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Security Agent shall be mechanical and administrative in nature; the Security Agent shall not have by reason of the this Agreement or any other Transaction Document Agreement a fiduciary relationship in respect of any Debtor the Company or any the Secured Party; and nothing in the Agreement or any other Transaction DocumentAgreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document Agreement except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Jupiter Wellness, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document Facility Documents a fiduciary relationship in respect of any Debtor Borrower or any Secured PartyLender; and nothing in the Agreement or any other Transaction DocumentFacility Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document Facility Documents except as expressly set forth herein and therein.

Appears in 1 contract

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

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Related Document a fiduciary relationship in respect of any Debtor the Seller or any Secured Partysubsidiary thereof (“Debtors”) or any Purchaser; and nothing in the Agreement or any other Transaction Related Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Related Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Convertible Note and Warrant Purchase Agreement (LOCAL Corp)

Nature of Duties. The Agent shall have no duties or responsibilities under this Agreement except those expressly set forth in the Agreementherein. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured PartySubsidiary or any Investor; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Securities Purchase Agreement (Xenomics Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of appeal)of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Healthcare Corp of America)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Brillian Corp)

Nature of Duties. (a) The Administrative Agent shall not have no any duties or responsibilities except those expressly set forth in this Agreement and in the Agreementother Credit Documents. Neither the Administrative Agent nor any of its partners, members, shareholders, officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless primarily caused solely by its or their gross negligence or willful misconduct or material breach (as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionjurisdiction in a final and non-appealable decision). The duties of the Administrative Agent shall be mechanical and administrative in nature; the Administrative Agent shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Lender or the holder of any Secured PartyNote; and nothing in the this Agreement or in any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 1 contract

Samples: Security Agreement (Arc Document Solutions, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor Oz Rey or any Secured PartyPurchaser; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Securities Exchange Agreement (Oz Rey LLC)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct conduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured PartyPurchaser; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Securities Purchase Agreement (Technoconcepts, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document the Notes a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Documentthe Notes, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document the Notes except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Sg Blocks, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the AgreementTransaction Documents. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder Transaction Documents or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document Documents a fiduciary relationship in respect of any Debtor or any Secured PartyPurchaser; and nothing in the Agreement or any other Transaction DocumentDocuments, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document Documents except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Securities Purchase Agreement (Mela Sciences, Inc. /Ny)

Nature of Duties. The Administrative Agent shall not have no any duties or responsibilities except those expressly set forth in this Agreement and the AgreementSecurity Documents. Neither The Documentation Agent and the Agent Syndication Agent, as such, shall not have any duties or responsibilities under this Agreement or any Security Document or any other document or matter related thereto. None of the Agents nor any of its partners, members, shareholders, their respective officers, directors, agents, employees or agents affiliates shall be liable for any action taken or omitted by it as such or them hereunder or under the Agreement or hereunder any other Credit Document or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdictionmisconduct. The duties of the Agent Agents shall be mechanical and administrative in nature; the Agent Agents shall not have by reason of the this Agreement or any other Transaction Credit Document a fiduciary relationship in respect of any Debtor Bank or the holder of any Secured PartyNote; and nothing in the this Agreement or any other Transaction Credit Document, expressed or implied, is intended to or shall be so construed as to impose upon the any Agent any obligations in respect of the this Agreement or any other Transaction Credit Document except as expressly set forth herein and or therein.

Appears in 1 contract

Samples: Credit Agreement (Coltec Industries Inc)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Operative Document a fiduciary relationship in respect of any the Debtor or any the Secured Party; and nothing in the Agreement or any other Transaction Operative Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Operative Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Intercloud Systems, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any the Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

Appears in 1 contract

Samples: Security Agreement (Mobiquity Technologies, Inc.)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor the Company or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and thereintherein or imposed by applicable law.

Appears in 1 contract

Samples: Israeli Security Agreement (Metalink LTD)

Nature of Duties. The Agent shall have no duties or responsibilities except those expressly set forth in this Agreement and the AgreementOther Documents. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it them as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any lossherewith, unless caused solely by its or their gross (not mere) negligence or willful misconduct misconduct. Agent shall not be under any obligation to any Lender to ascertain or to inquire as determined by a final judgment (not subject to further appeal) the observance or performance of a court any of competent jurisdictionthe agreements contained in, or conditions of, this Agreement or any of the Other Documents, or to inspect the properties, books or records of any Borrower. The duties of Agent as respects the Agent Advances to Borrowers shall be mechanical and administrative in nature; the Agent shall not have by reason of the this Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured PartyLender; and nothing in the Agreement or any other Transaction Documentthis Agreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the this Agreement or any other Transaction Document except as expressly set forth herein and thereinherein.

Appears in 1 contract

Samples: Revolving Credit (Graham Field Health Products Inc)

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