Common use of Rights and Duties of Special Warrant Agent Clause in Contracts

Rights and Duties of Special Warrant Agent. (a) In the exercise of the rights and duties prescribed or conferred by the terms of this Indenture, the Special Warrant Agent shall act honestly and in good faith with a view to the best interests of the Special Warrantholders as a group and shall exercise the degree of care, diligence and skill that a reasonably prudent warrant Agent would exercise in comparable circumstances. No provision of this Indenture shall be construed to relieve the Special Warrant Agent from or require any other person to indemnify the Special Warrant Agent against liability for its own negligence, wilful misconduct or bad faith.

Rights and Duties of Special Warrant Agent. (a) In the exercise of the rights and duties prescribed or conferred by the terms of this Indenture, the Special Warrant Agent shall will act honestly and in good faith with a view to the best interests of the Special Warrantholders as a group and shall will exercise the that degree of care, diligence and skill that a reasonably prudent warrant Agent trustee would exercise in comparable circumstances. No provision of this Indenture shall will be construed to relieve the Special Warrant Agent from or require any other person to indemnify the Special Warrant Agent against liability for its own negligencegrossly negligent action, its own failure to act, or its own wilful misconduct misconduct, fraud or bad faith.