No Duty of Oversight. The Intermediary is not at any time under any duty (a) to monitor any collateral in the Collection Account or withdrawn therefrom, or whether the collateral is of a type required to be held in the Collection Account, or (b) to supervise the investment of, or to advise or make any recommendation for the purchase, sale, retention or disposition of any collateral.
Appears in 3 contracts
Samples: Senior Export and Working Capital Facility Agreement, Senior Export and Working Capital Facility Agreement (Gerdau Ameristeel Corp), Senior Export and Working Capital Facility Agreement (Gerdau Ameristeel Corp)
No Duty of Oversight. The Intermediary is not at any time under any duty (a) to monitor the value of the Collateral credited to any collateral in the Collection Account or withdrawn therefrom, or whether the collateral Collateral is of a type required to be held in the Collection any Account, or (b) to supervise the investment of, or to advise or make any recommendation for the purchase, sale, retention or disposition of any collateralCollateral.
Appears in 1 contract
Samples: Pledge and Administration Agreement (Assured Guaranty LTD)
