No Fiduciary Duties. (a) Nothing in any Finance Document constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction Obligor. (b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 11 contracts
Samples: Term Loan Facility (Okeanis Eco Tankers Corp.), Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.)
No Fiduciary Duties. (a) Nothing in any Finance Document constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction ObligorObligor or any other person.
(b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 7 contracts
Samples: Term Loan Facility (United Maritime Corp), Facility Agreement (United Maritime Corp), Facility Agreement (United Maritime Corp)
No Fiduciary Duties. (a) Nothing in any Finance Document constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction Obligor.
(b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 4 contracts
Samples: Term Loan Facility (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.), Facility Agreement (Scorpio Tankers Inc.)
No Fiduciary Duties. (a) Nothing in any Finance Loan Document constitutes the Security Agent Trustee as an agent, trustee or fiduciary of any Transaction ObligorObligor or any other person.
(b) The Security Agent Trustee shall not be bound to account to any other Secured Finance Party for any sum or the profit element of any sum received by it for its own account.
Appears in 2 contracts
Samples: Credit Agreement (SEACOR Marine Holdings Inc.), Credit Agreement (SEACOR Marine Holdings Inc.)
No Fiduciary Duties. (a) Nothing in any Finance Document constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction ObligorObligor or Approved Manager.
(b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
No Fiduciary Duties. (a) Nothing in any the Finance Document Documents constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction Obligorother person.
(b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 1 contract
No Fiduciary Duties. (a) Nothing in any Finance Document constitutes the Security Agent as an agent, trustee or fiduciary of any Transaction Obligor.
(b) The Security Agent shall not be bound to account to any other Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 1 contract
Samples: Term Loan Facility Agreement (Castor Maritime Inc.)
No Fiduciary Duties. (a) Nothing in any Finance Document constitutes constitutes:
(i) the Agent as a trustee or fiduciary of any other person; or
(ii) the Security Agent as an agent, trustee or fiduciary of any Transaction Obligorthe Sponsor, Shareholder, Borrower or Senior Borrower.
(b) The Neither the Agent nor the Security Agent shall not be bound to account to any other Finance Party or (in the case of the Security Agent) any Secured Party for any sum or the profit element of any sum received by it for its own account.
Appears in 1 contract
Samples: Secured Term Loan Facility (Mohegan Tribal Gaming Authority)
