Common use of Position of the Agents Clause in Contracts

Position of the Agents. In acting under this Agreement and in connection with the sale of any Notes by the Bank and Holding (other than Notes sold to you pursuant to a Terms Agreement), you are acting solely as agents of the Bank and Holding and do not assume any obligation towards or relationship of agency or trust with any purchaser of Notes. You shall make reasonable efforts to assist the Bank and Holding in obtaining performance by each purchaser whose offer to purchase Notes has been solicited by you and accepted by the Bank and Holding, but you shall not have any liability to the Bank or Holding in the event any such purchase is not consummated for any reason. If the Bank or Holding shall default in their respective obligations to deliver Notes to a purchaser whose offer the Bank has accepted, the Bank and Holding shall hold you harmless against any loss, claim, damage or liability arising from or as a result of such default and shall, in particular, pay to you the commission you would have received had such sale been consummated.

Position of the Agents. In acting under this Agreement and in connection with the sale of any Notes by the Bank and Holding (other than Notes sold to you pursuant to a Terms Agreement), you are acting solely as agents of the Bank and Holding and do not assume any obligation towards or relationship of agency or trust with any purchaser of Notes. You shall make reasonable efforts to assist the Bank and Holding in obtaining performance by each purchaser whose offer to purchase Notes has been solicited by you and accepted by the Bank and HoldingBank, but you shall not have any liability to the Bank or Holding in the event any such purchase is not consummated for any reason. If the Bank or Holding shall default in their respective its obligations to deliver Notes to a purchaser whose offer the Bank it has accepted, the Bank and Holding shall hold you harmless against any loss, claim, damage or liability arising from or as a result of such default and shall, in particular, pay to you the commission you would have received had such sale been consummated.