Common use of Non-Reliance on Collateral Agent Clause in Contracts

Non-Reliance on Collateral Agent. None of the Securities Intermediary, the Custodial Agent or the Collateral Agent shall be required to keep itself informed as to the performance or observance by the Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units of this Agreement, the Purchase Contract Agreement, the Equity Security Units or Stripped Equity Security Units or any other document referred to or provided for herein or therein or to inspect the properties or books of the Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units. The Collateral Agent, the Custodial Agent and the Securities Intermediary shall not have any duty or responsibility to provide the Company or the Remarketing Agent with any credit or other information concerning the affairs, financial condition or business of the Purchase Contract Agent, any Holder of Equity Security Units or Stripped Equity Security Units or any holder of Separate Notes (or any of their respective subsidiaries or affiliates) that may come into the possession of the Collateral Agent, the Custodial Agent or the Securities Intermediary or any of their respective affiliates.

Appears in 2 contracts

Samples: Pledge Agreement (Dte Energy Co), Pledge Agreement (Dte Energy Co)

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Non-Reliance on Collateral Agent. None of the Securities IntermediaryCollateral Agent, the Custodial Agent or the Collateral Agent Securities Intermediary shall be required to keep itself informed as to the performance or observance by the Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units of this Agreement, the Purchase Contract Agreement, the Equity Security Units or Stripped Equity Security Units or any other document referred to or provided for herein or therein or to inspect the properties or books of the Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units. The Collateral Agent, the Custodial Agent and the Securities Intermediary shall not have any duty or responsibility to provide the Company or the Remarketing Agent with any credit or other information concerning the affairs, financial condition or business of the Purchase Contract Agent, any Holder of Equity Security Units or Stripped Equity Security Units or any holder of Separate Notes (or any of their respective subsidiaries or affiliates) that may come into the possession of the Collateral Agent, the Custodial Agent or the Securities Intermediary or any of their respective affiliates.

Appears in 2 contracts

Samples: Pledge Agreement (El Paso Corp/De), Pledge Agreement (El Paso Corp/De)

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Non-Reliance on Collateral Agent. None of the Securities IntermediaryCollateral Agent, the Custodial Agent or the Collateral Agent Securities Intermediary shall be required to keep itself informed as to the performance or observance by the Forward Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units of this Agreement, the Forward Purchase Contract Agreement, the Equity Security Units or Stripped Equity Security Units or any other document referred to or provided for herein or therein or to inspect the properties or books of the Forward Purchase Contract Agent or any Holder of Equity Security Units or Stripped Equity Security Units. The Collateral Agent, the Custodial Agent and the Securities Intermediary shall not have any duty or responsibility to provide the Company or the Remarketing Agent with any credit or other information concerning the affairs, financial condition or business of the Forward Purchase Contract Agent, any Holder of Equity Security Units or Stripped Equity Security Units or any holder of Separate Notes (or any of their respective subsidiaries or affiliates) that may come into the possession of the Collateral Agent, the Custodial Agent or the Securities Intermediary or any of their respective affiliates.

Appears in 1 contract

Samples: Pledge Agreement (American Electric Power Co Inc)

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