Common use of Non-Liability of Administrative Agent and Secured Parties Clause in Contracts

Non-Liability of Administrative Agent and Secured Parties. None of Administrative Agent or any Secured Party shall have any fiduciary responsibilities to any Grantor; and no provision in this Security Agreement or in any of the other Loan Documents, and no course of dealing between or among any of the parties hereto, shall be deemed to create any fiduciary duty owing by Administrative Agent or any Secured Party to any other Secured Party, any Grantor, or any Subsidiary of any Grantor. None of Administrative Agent or any Secured Party undertakes any responsibility to any Grantor to review or inform any Grantor of any matter in connection with any phase of any Grantor’s business or operations.