No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Security Agreement (Quaker Fabric Corp /De/), Security Agreement (Blue Steel Capital Corp), Security Agreement (Us Xpress Enterprises Inc)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Grantor for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Credit Agreement (Harris Interactive Inc), Credit Agreement (Harris Interactive Inc), Master Security Agreement (Harris Interactive Inc)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent it to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Grantor for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Security Agreement (Halozyme Therapeutics, Inc.), Security Agreement (Halozyme Therapeutics, Inc.)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company the Borrowers for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mayors Jewelers Inc/De), Mayors Jewelers Inc/De
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders other Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Grantor for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Amended and Restated Security Agreement (Alexion Pharmaceuticals Inc), Security Agreement (Alexion Pharmaceuticals Inc)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, powers and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company each Assignor for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, powers and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company of the Borrowers for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Security Agreement (Nationsrent Inc)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders Banks in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company of the Companies for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Security Agreement (Nationsrent Inc)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor not any of its officers, directors, employees or agents shall be responsible to any Company of the Companies for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Grantor for any act or failure to act, except for the Administrative Agent's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Obligor for any act or failure to act, except for the Administrative Agent's or any of its officers', employees' or agents' own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders other Secured Parties in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any Company Grantor for any act or failure to act, except for the Administrative Agent's own or its officers', directors', employees' or agents' gross negligence or willful misconduct.
Appears in 1 contract
Samples: Security Agreement (Kaman Corp)
No Duty on Administrative Agent. The powers conferred on the Administrative Agent hereunder are solely to protect the interests of the Administrative Agent and the Lenders in the Collateral and shall not impose any duty upon the Administrative Agent to exercise any such powers. The Administrative Agent shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to any the Company for any act or failure to act, except for the Administrative Agent's own gross negligence or willful misconduct.
Appears in 1 contract
