Common use of No Implied Duty Clause in Contracts

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a party.

Appears in 7 contracts

Samples: Collateral Trust Agreement (EFIH Finance Inc.), Collateral Trust Agreement (EFIH Finance Inc.), Collateral Trust Agreement (Unisys Corp)

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No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have any duties, responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 3 contracts

Samples: Collateral Trust Agreement, Collateral Trust Agreement (Primus Telecommunications Group Inc), Canadian Collateral Trust Agreement (Primus Telecommunications Group Inc)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other First Lien Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other First Lien Security Documents to which it is a partyDocuments.

Appears in 2 contracts

Samples: Collateral Trust and Intercreditor Agreement, Collateral Trust and Intercreditor Agreement (CVR Energy Inc)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents Documents. The Collateral Trustee shall have no duty to which it is a partymonitor compliance by the Borrower with its duties and obligations under this Agreement or the other Security Documents, except to the extent expressly provided herein or therein.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Midwest Generation LLC), Collateral Trust Agreement (Midwest Generation LLC)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have duties, responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a party.

Appears in 2 contracts

Samples: Collateral Trust Agreement (Solo Cup CO), Collateral Trust Agreement (Acco Brands Corp)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have any duties, responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a party.

Appears in 2 contracts

Samples: Collateral Trust Agreement (MRC Global Inc.), Security Agreement (MRC Global Inc.)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents Documents. The Collateral Trustee shall have no duty to which it is a partymonitor compliance by the Borrower or the other Obligors with its duties and obligations under this Agreement or the other Security Documents, except to the extent expressly provided herein or therein.

Appears in 2 contracts

Samples: Collateral Trust and Intercreditor Agreement (Entravision Communications Corp), Collateral Trust and Intercreditor Agreement (Geokinetics Inc)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will shall not be required to take any action that which is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 2 contracts

Samples: Collateral Trust Agreement (NRG Energy, Inc.), Collateral Trust Agreement (NRG Energy Inc)

No Implied Duty. The Notwithstanding anything to the contrary contained herein, the Collateral Trustee will not have any fiduciary duties nor will it have responsibilities any implied responsibilities, covenants or obligations other than those and shall only be required to perform such obligations as are expressly assumed by it stated in the Closing Date Indenture, this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of the Closing Date Indenture, this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 2 contracts

Samples: Collateral Trust Agreement (CSI Compressco LP), Collateral Trust Agreement (CSI Compressco LP)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a party.Documents. Section 6.2

Appears in 1 contract

Samples: Collateral Trust Agreement (Altera Infrastructure L.P.)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have duties, responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Parity Lien Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Parity Lien Security Documents to which it is a partyparty or that may involve it in personal liability.

Appears in 1 contract

Samples: Collateral Trust Agreement (Viasystems Group Inc)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Builders FirstSource, Inc.)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents Documents. Notwithstanding anything in this Agreement to which it is a party. The the contrary, the Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to Documents, or in connection with which it is a partydetermines it would incur liability.

Appears in 1 contract

Samples: Collateral Trust Agreement (Valaris LTD)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have duties, responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Parity Lien Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Parity Lien Security Documents to which it is a party.

Appears in 1 contract

Samples: Intercreditor Agreement (Viasystems Inc)

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No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will shall not be required to take any action that which is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (GenOn Energy, Inc.)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties duties, nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is it believes may be contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Iwo Holdings Inc)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Parity Lien Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Parity Lien Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Alliance One International, Inc.)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have or responsibilities or obligations other than except those expressly assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will and shall not be required to take any action that which is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Calpine Corp)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties to any of the parties to this Agreement, any Secured Party or any other Person nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (American Casino & Entertainment Properties LLC)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those responsibilities or obligations expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Terremark Worldwide Inc.)

No Implied Duty. (a) The Collateral Trustee will not have any fiduciary duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a partyDocuments. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust Agreement (Satelites Mexicanos Sa De Cv)

No Implied Duty. The Collateral Trustee will not have any fiduciary duties duties, nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents to which it is a party.

Appears in 1 contract

Samples: Collateral Trust Agreement (Unisys Corp)

No Implied Duty. The Notwithstanding anything to the contrary contained herein, the Collateral Trustee will not have any fiduciary duties nor will it have responsibilities any implied responsibilities, covenants or obligations other than those and shall only be required to perform such obligations as are expressly assumed by it stated in the Existing Indenture, this Agreement and the other Security Documents to which it is a party. The Collateral Trustee will not be required to take any action that is contrary to applicable law or any provision of the Existing Indenture, this Agreement or the other Security Documents to which it is a partyDocuments.

Appears in 1 contract

Samples: Collateral Trust and Intercreditor Agreement (Par Pacific Holdings, Inc.)

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