Common use of No Implied Obligations Clause in Contracts

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificates, and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that may involve it in any expense or liability for which it does not receive indemnity satisfactory to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 8 contracts

Samples: Warrant Agreement, Warrant Agreement (Verso Paper Holdings LLC), Warrant Agreement (Horizon Lines, Inc.)

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No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein (or in any modification or amendment hereof to which the Warrant Agent has consented to in writing) and in the Warrant Certificates, and no implied or inferred duties or obligations of the Warrant Agent shall be read into this Agreement (or in any modification or amendment hereof to which the Warrant Agent has consented to in writing) or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that it reasonably believes may involve it in any expense or liability for which it does not receive indemnity reasonably satisfactory to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys, and the Warrant Agent will not be answerable or accountable for any act, default, neglect or misconduct of such agents or attorneys or for any loss to the Company resulting from such neglect or misconduct; provided that the Warrant Agent acted without gross negligence, willful misconduct or bad faith in connection with the selection of such agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it the Warrant Agent by this agreementAgreement. In Notwithstanding anything in this Agreement to the contrary, in no event shall the Warrant Agent be responsible or liable for special, punitive, incidental, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 4 contracts

Samples: Warrant Agreement (Tidewater Inc), Warrant Agreement (Tidewater Inc), Warrant Agreement (Gulfmark Offshore Inc)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein in this Agreement and in the Warrant Certificates, and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that which may tend to involve it in any expense or liability for which it does not receive indemnity or security satisfactory to itthe Warrant Agent in its sole discretion against loss, liability or expense. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders Holders or on behalf of the Warrantholders Holders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein in this Agreement or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder Holder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, anything that it may do or omitted to be taken by it refrain from doing in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by in connection with this agreementWarrant Agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or any consequential loss or damage of any kind whatsoever (including, including but not limited toto lost profits), loss of profit) irrespective of whether even if the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Fourth Supplemental Indenture (Sunnova Energy International Inc.), Fourth Supplemental Indenture (Sunnova Energy International Inc.)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant CertificatesCertificates (including as incorporated into any Book-Entry Warrant and any Warrant Statement relating thereto), and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that may involve it in any expense or liability for which it does not receive indemnity satisfactory to itif such indemnity is reasonably requested, except for indemnity for the Warrant Agent’s own fraud, gross negligence, willful misconduct or bad faith. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders Holders or on behalf of the Warrantholders Holders pursuant to this Agreement or for the application by the Company of the proceeds of the Unit Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates (including as incorporated into any Book-Entry Warrant and any Warrant Statement relating thereto) or in the case of the receipt of any written demand from a Warrantholder Holder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute shall have no duty or responsibility to insure compliance with any of applicable Federal or state securities law in connection with the powers hereunder issuance, transfer or perform exchange or any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it Unit Warrants hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Warrant Agreement (Central European Media Enterprises LTD), Warrant Agreement (Central European Media Enterprises N.V.)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant CertificatesCertificates (including as incorporated into any Book-Entry Warrant and any Warrant Statement relating thereto), and no implied duties or obligations of the Warrant Agent shall be read into this Agreement Agreement, the Warrant Certificates, the Book-Entry Warrants or the Warrant Certificates Statements against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that may involve it in any expense or liability for which it does not receive indemnity satisfactory to itif such indemnity is reasonably requested. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders Holders or on behalf of the Warrantholders Holders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates (including as incorporated into any Book-Entry Warrant and any Warrant Statement relating thereto) or in the case of the receipt of any written demand from a Warrantholder Holder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute shall have no duty or responsibility to insure compliance with any of applicable Federal or state securities law in connection with the powers hereunder issuance, transfer or perform exchange or any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it Warrants hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Warrant Agreement (Sears Holdings Corp), Warrant Agreement (Sears Holdings Corp)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein (or in any modification or amendment hereof to which the Warrant Agent has consented to in writing) and in the Warrant Certificates, and no implied or inferred duties or obligations of the Warrant Agent shall be read into this Agreement (or in any modification or amendment hereof to which the Warrant Agent has consented to in writing) or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that it believes may involve it in any expense or liability for which it does not receive indemnity reasonably satisfactory to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder with respect to such default, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunderattorneys. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good the absence of bad faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreementAgreement. In Notwithstanding anything in this Agreement to the contrary, in no event shall the Warrant Agent be responsible or liable for special, punitive, incidental, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 2 contracts

Samples: Warrant Agreement (Overseas Shipholding Group Inc), Warrant Agreement (Overseas Shipholding Group Inc)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Common Share Purchase Warrant Certificates, Certificates or Pre-Funded Warrant Certificates specifically set forth and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that which may tend to involve it in any expense or liability for liability, the payment of which it does not receive indemnity satisfactory within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Common Share Purchase Warrant Certificates countersigned or Pre-Funded Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders Company pursuant to this Agreement or for the application by the Company of the proceeds of the WarrantsCommon Share Purchase Warrant Certificates or Pre-Funded Warrant Certificate. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Common Share Purchase Warrant Certificates or Pre-Funded Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder Holder of a Common Share Purchase Warrant Certificate or Pre-Funded Warrant Certificate with respect to such default, including including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionlaw.

Appears in 1 contract

Samples: Warrant Agency Agreement (Siyata Mobile Inc.)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificates, Certificates specifically set forth and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that which may tend to involve it in any expense or liability for liability, the payment of which it does not receive indemnity satisfactory within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned authenticated by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders Company pursuant to this Agreement or for the application by the Company of the proceeds of the WarrantsWarrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder Holder of a Warrant Certificate with respect to such default, including including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwiselaw. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and Provided that the Warrant Agent shall not be responsible for any misconduct or negligence on has performed its duties as soon as commercially practicable, the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action takenthe Company’s failure to timely deliver the Warrant Shares pursuant to the terms of the Warrants, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event nor shall the Warrant Agent be responsible or liable for special, indirect, any liquidated damages or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionother damages associated therewith.

Appears in 1 contract

Samples: Warrant Agency Agreement (Maxeon Solar Technologies, Ltd.)

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No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificatesherein, and no implied duties or obligations of the Warrant Agent shall be read into this Warrant Agent Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that which may involve it in any expense or liability for the payment of which it does not receive indemnity satisfactory within a reasonable time is not, in its opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders Holders or on behalf of the Warrantholders Holders pursuant to this Warrant Agent Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder Holder with respect to such default, including including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwiseotherwise or to make any demand upon the Company. The Without limiting the foregoing, unless otherwise expressly provided in this Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and Agreement, the Warrant Agent shall not be responsible for subject to, nor be required to comply with, or determine if any misconduct person or negligence on entity has complied with, the part of Warrant Certificate or any agent other agreement between or attorney appointed with due care by it hereunder. The among the parties hereto, even though reference thereto may be made in this Warrant Agent shall not be liable for any action taken, sufferedAgreement, or omitted to be taken by it comply with any notice, instruction, direction, request or other communication, paper or document other than as expressly set forth in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 1 contract

Samples: Warrant Agent Agreement (Tri Valley Corp)

No Implied Obligations. The Debt Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Debt Warrant Certificates, Certificates specifically set forth and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Debt Warrant Certificates against the Debt Warrant Agent. The Debt Warrant Agent shall not be under any obligation to advance its own funds or to take any action hereunder that which may tend to involve it in any expense or liability for liability, the payment of which it does not receive indemnity satisfactory within a reasonable time is not, in its reasonable opinion, assured to it. The Debt Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Debt Warrant Certificates countersigned authenticated by the Debt Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders Company pursuant to this Agreement or for the application by the Company of the proceeds of the WarrantsDebt Warrant Certificates or any exercise of the Debt Warrants evidenced thereby. The Debt Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Debt Warrant Certificates or in the Debt Warrant Securities or in the case of the receipt of any written demand from a Warrantholder Holder of a Debt Warrant Certificate with respect to such default, including including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings proceeding at law or otherwise. The Warrant Agent may execute otherwise or, except as provided in Section 6.04 hereof, to make any of demand upon the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of action.Company.........................................................16

Appears in 1 contract

Samples: Debt Warrant Agreement (Eop Operating LTD Partnership)

No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificatesherein, and no implied duties or obligations of the Warrant Agent shall be read into this Warrant Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder that which may involve it in any expense or liability for the payment of which it does not receive indemnity satisfactory within a reasonable time is not, in its opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company Corporation of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders Holders or on behalf of the Warrantholders Holders pursuant to this Warrant Agreement or for the application by the Company Corporation of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility in case of any default by the Company Corporation in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder Holder with respect to such default, including including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwiseotherwise or to make any demand upon the Corporation. The Without limiting the foregoing, unless otherwise expressly provided in this Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and Agreement, the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not subject to, nor be liable for any action taken, sufferedrequired to comply with, or omitted to be taken by it in good faith and reasonably believed by it to be authorized determine if any person or within the discretion or rights or powers conferred upon it by this agreement. In no event shall entity has complied with, the Warrant Agent Certificate or any other agreement between or among the parties hereto, even though reference thereto may be responsible or liable for special, indirectmade in this Warrant Agreement, or consequential loss to comply with any notice, instruction, direction, request or damage of any kind whatsoever (includingother communication, but not limited to, loss of profit) irrespective of whether the paper or document other than as expressly set forth in this Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 1 contract

Samples: Warrant Agreement (Hydrogenics Corp)

No Implied Obligations. Nothing in this Agreement shall be construed to require the Fiscal Agent, acting in such capacity, to advance or expend its own funds or otherwise incur financial liability in the performance of any of its duties, or in the exercise of its rights and powers hereunder. The Warrant permissive right of the Fiscal Agent to take or refrain from taking any actions enumerated in this Agreement shall not be construed as a duty. The Fiscal Agent, acting in such capacity, may request that the Issuer deliver a certificate setting forth the names of individuals and/or titles of offices authorized to take specified actions pursuant to this Agreement. The Fiscal Agent, acting in such capacity, shall not be liable for any act, omission to act or sufferance to exist, unless the same constitutes negligence, willful misconduct or bad faith. The Fiscal Agent, acting in such capacity, shall not be liable for any error of judgment made by it in the performance of its duties hereunder, unless the same constitutes negligence, willful misconduct or bad faith. The Fiscal Agent, acting in such capacity, shall not be liable for any error of judgment made in good faith unless the Fiscal Agent shall have been negligent in ascertaining the pertinent facts. The Fiscal Agent, acting in such capacity, shall have no obligation to monitor, or liability in respect of, the registration or exemption therefrom of the Notes under any federal or state securities laws. The Fiscal Agent, acting in such capacity, shall not be obligated to perform only such duties as are specifically set forth herein and in the Warrant Certificates, and no implied duties or obligations of the Warrant Agent shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any legal action hereunder that may which might in its judgment involve it in any expense or liability for which liability, unless it does not receive shall have been furnished with indemnity satisfactory to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates countersigned by the Warrant Agent and delivered by it to the Warrantholders or on behalf of the Warrantholders pursuant to this Agreement or for the application by the Company of the proceeds of the Warrants. The Warrant Agent shall have no duty or responsibility Fiscal Agent, acting in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Warrantholder with respect to such defaultcapacity, including any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise. The Warrant Agent may execute any of the powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Warrant Agent shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. The Warrant Agent shall not be liable for any action taken, suffered, suffered or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this agreement. In no event shall the Warrant Agent be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or damage and regardless of the form of actionAgreement.

Appears in 1 contract

Samples: Senior Note Purchase Agreement (Tiptree Financial Inc.)

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