NO DUTY ON AGENT OR LENDERS. PART. The powers conferred on the Agent and the Lenders hereunder are solely to protect the Agent's and the Lenders' interests in the Collateral and shall not impose any duty upon the Agent or any Lender to exercise any such powers. The Agent and the Lenders shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Subsidiary Security Agreement (Oro Spanish Broadcasting Inc), Credit and Guarantee Agreement (Warren S D Co /Pa/), Subsidiary Security Agreement (Oro Spanish Broadcasting Inc)
NO DUTY ON AGENT OR LENDERS. PARTPart. The powers conferred on the Agent and the Lenders hereunder are solely to protect the Agent's and the Lenders' interests in the Collateral and shall not impose any duty upon the Agent or any Lender to exercise any such powers. The Agent and the Lenders shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 1 contract
NO DUTY ON AGENT OR LENDERS. PARTPart. The powers conferred on the Agent and the Lenders hereunder are solely to protect the Agent's and the Lenders' interests in the Collateral and shall not impose any duty upon the Agent or any Lender to exercise any such powers. The Agent and the Lenders shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to the Grantor Borrower for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 1 contract
NO DUTY ON AGENT OR LENDERS. PART. The powers conferred on the Agent and the Lenders hereunder are solely to protect the Agent's and the Lenders' interests in the Collateral and shall not impose any duty upon the Agent or any Lender to exercise any such powers. The Agent and the Lenders shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to the Grantor Borrower for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Warren S D Co /Pa/)
