Common use of No Agency or Trust Clause in Contracts

No Agency or Trust. In acting under this Agreement, the Agents shall, except as provided in Clause 5.7, act as agents of the Issuer and have no obligation towards or relationship of agency or trust or fiduciary duty with any Noteholder or Couponholder and need only perform the duties set out specifically in this Agreement and the Conditions and no implied duties or obligations shall be read into any such documents.

No Agency or Trust. In acting under this Agreement, the Agents shall, except as provided in Clause 5.7, shall act solely as agents of the Issuer (or, where a notice given by the Trustee pursuant to Clause 4.1 shall not have been withdrawn, the Trustee) and shall have no obligation towards or relationship of agency or trust or fiduciary duty with any Noteholder or Couponholder Bondholder and need only perform the duties set out specifically in this Agreement and the Conditions Conditions. For the avoidance of doubt, none of the Agents shall have any duty or responsibility in the case of default by the Issuer in the performance of its obligations under this Agreement and no implied duties or obligations shall be read into any such documentsthe Conditions.

No Agency or Trust. In acting under this Agreement, the Agents shall, except each Agent shall act solely as provided in Clause 5.7, act as agents agent of the Issuer (or, in the circumstances described in Clause 4.1 above, the Trustee) and shall have no obligation or fiduciary duty towards or relationship of agency or trust or fiduciary duty with any Noteholder or Couponholder and need only perform the duties set out specifically in this Agreement and the Conditions and no implied duties or obligations shall be read into any such documentsNoteholder.

No Agency or Trust. In acting under this Agreement, the Agents shall, except each Agent shall act solely as provided in Clause 5.7, act as agents agent of the Issuer (or, in the circumstances described in Clause 4.1 above, the Trustee) and shall have no obligation or fiduciary duty towards or relationship of agency or trust or fiduciary duty with any Noteholder or Couponholder Noteholder. The Agents shall have only those duties and need only perform the duties responsibilities expressly set out specifically in this Agreement and the Conditions and no implied duties or obligations shall be read into any such documentsthis Agreement against the Agents, other than the duty to exercise the diligence of a reasonably prudent agent in comparable circumstances.