Common use of No Obligation to Act Clause in Contracts

No Obligation to Act. The Administrative Agent shall not be obligated to do any of the acts or to exercise any of the powers authorized by Section 5.2, but if the Administrative Agent elects to do any such act or to exercise any of such powers, it shall not be accountable for more than it actually receives as a result of such exercise of power, and shall not be responsible to any Grantor for any act or omission to act except for any act or omission to act as to which there is a determination by a court of competent jurisdiction or another independent tribunal having jurisdiction that (i) the subject act or omission to act by the Administrative Agent or any Affiliate of the Administrative Agent or any officer, director, employee, advisor or agent of the Administrative Agent or such Affiliate constituted gross negligence, was in bad faith, or constituted willful misconduct or (ii) constituted a breach by the Administrative Agent or any Affiliate of the Administrative Agent or any officer, director, employee, advisor or agent of the Administrative Agent or such Affiliate of its obligations to such Grantor. The provisions of Section 5.2 shall in no event relieve any Grantor of any of its obligations hereunder or under any other Loan Document with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof or impose any obligation on the Administrative Agent or any other Secured Party to proceed in any particular manner with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof, or in any way limit the exercise by the Administrative Agent or any other Secured Party of any other or further right which it may have on the date of this Agreement or hereafter, whether hereunder, under any other Loan Document, by law or otherwise.

No Obligation to Act. The Administrative Agent shall not be obligated to do any of the acts or to exercise any of the powers authorized by Section 5.25.02, but if the Administrative Agent elects to do any such act or to exercise any of such powers, it shall not be accountable for more than it actually receives as a result of such exercise of power, and shall not be responsible to any Grantor for any act or omission to act except for any act or omission to act as which constitutes gross negligence, bad faith or breach of the contractual obligations of the Administrative Agent. The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if such Pledged Collateral is accorded treatment substantially equivalent to that which there is a determination by a court of competent jurisdiction or another independent tribunal having jurisdiction that (i) the subject act or omission to act by the Administrative Agent in such Person’s individual capacity, accords its own property consisting of similar instruments or any Affiliate interests, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being understood that none of the Administrative Agent or any officer, director, employee, advisor or agent of the Administrative Agent Lenders shall have responsibility for (i) ascertaining or such Affiliate constituted gross negligencetaking action with respect to calls, was in bad faithconversions, exchanges, maturities, tenders or constituted willful misconduct other matters relating to any Pledged Collateral, whether or (ii) constituted a breach by not the Administrative Agent or any Affiliate Lender has or is deemed to have knowledge of the Administrative Agent such matters or (ii) taking any officer, director, employee, advisor or agent of the Administrative Agent or such Affiliate of its obligations necessary steps to such Grantorpreserve rights against any Person with respect to any Pledged Collateral. The provisions of Section 5.2 5.02 shall in no event relieve any Grantor of any of its obligations hereunder or under any other Loan Document with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof or impose any obligation on the Administrative Agent or any other Secured Credit Party to proceed in any particular manner with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof, or in any way limit the exercise by the Administrative Agent or any other Secured Credit Party of any other or further right which it may have on the date of this Agreement or hereafter, whether hereunder, under any other Loan Document, by law or otherwise.

No Obligation to Act. The Administrative Agent shall not be obligated to do any of the acts or to exercise any of the powers authorized by Section 5.2, but if the Administrative Agent elects to do any such act or to exercise any of such powers, it shall not be accountable for more than it actually receives as a result of such exercise of power, and shall not be responsible to any Grantor for any act or omission to act except for any act or omission to act as to which there is a determination by a court of competent jurisdiction or another independent tribunal having jurisdiction that (i) the subject act or omission to act by the Administrative Agent or any Affiliate of the Administrative Agent or any officer, director, employee, advisor or agent of the Administrative Agent or such Affiliate constituted gross negligence, was in bad faith, or constituted willful misconduct or (ii) constituted a breach by the Administrative Agent or any Affiliate of the Administrative Agent or any officer, director, employee, advisor or agent of the Administrative Agent or such Affiliate of its obligations to such Grantor. The provisions of Section 5.2 shall in no event relieve any Grantor of any of its obligations hereunder or under any other Loan Document with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof or impose any obligation on the Administrative Agent or any other Secured Party to proceed in any particular manner with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof, or in any way limit the exercise by the Administrative Agent or any other Secured Party of any other or further right which it may have on the date of this Agreement or hereafter, whether hereunder, under any other Loan Document, by law or otherwise.

No Obligation to Act. The Administrative Collateral Agent shall not be obligated to do any of the acts or to exercise any of the powers authorized by Section 5.25.2 of this Agreement, but if the Administrative Collateral Agent elects to do any such act or to exercise any of such powers, it shall not be accountable for more than it actually receives as a result of such exercise of power, and shall not be responsible to any Grantor for any act or omission to act except for any act or omission to act as to which there is a determination by a court of competent jurisdiction or another independent tribunal having jurisdiction that (i) the subject act or omission to act by the Administrative Collateral Agent or any Affiliate of the Administrative Collateral Agent or any officer, director, employee, advisor or agent of the Administrative Collateral Agent or such Affiliate constituted gross negligence, was in bad faith, or constituted willful misconduct or (ii) constituted a breach by the Administrative Collateral Agent or any Affiliate of the Administrative Collateral Agent or any officer, director, employee, advisor or agent of the Administrative Collateral Agent or such Affiliate of its obligations to such Grantor. The provisions of Section 5.2 of this Agreement shall in no event relieve any Grantor of any of its obligations hereunder or under the Indenture any other Loan Security Document with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof or impose any obligation on the Administrative Collateral Agent or any other Secured Party to proceed in any particular manner with respect to the Collateral and/or the Xxxxxxxx Collateral or any part thereof, or in any way limit the exercise by the Administrative Collateral Agent or any other Secured Party of any other or further right which it may have on the date of this Agreement or hereafter, whether hereunder, under the Indenture and any other Loan Security Document, by law or otherwise.