No Obligation Regarding Quality of Collateral. Without limiting the generality of the foregoing, the Custodian shall be under no obligation to inquire into, and shall not be liable for, any Losses incurred by the Customer, the Agent or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Collateral, or Collateral which otherwise is not freely transferable or deliverable without encumbrance in any relevant market.
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Samples: Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)
No Obligation Regarding Quality of Collateral. Without limiting the generality of the foregoing, the Custodian shall be under no obligation to inquire into, and shall not be liable for, any Losses incurred by the Customer, the Agent Security Trustee or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Collateral, or Collateral which otherwise is not freely transferable or deliverable without encumbrance in any relevant market.
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