Common use of The Collateral Agent’s Duties Clause in Contracts

The Collateral Agent’s Duties. The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Shares, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords its own property. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall the Collateral Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.

Appears in 21 contracts

Samples: Second Lien Pledge Agreement, Pledge Agreement (RBC Bearings INC), First Lien Pledge Agreement (BrightView Holdings, Inc.)

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The Collateral Agent’s Duties. The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Shares, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords its own property. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall the Collateral Agent be responsible or liable to the Lenders Secured Parties for any failure to monitor or maintain any portion of the Collateral.

Appears in 4 contracts

Samples: Credit Agreement (OneStream, Inc.), Abl Pledge Agreement (Academy Sports & Outdoors, Inc.), Term Loan Pledge Agreement (Academy Sports & Outdoors, Inc.)

The Collateral Agent’s Duties. (a) The powers conferred on the Collateral Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged SharesCollateral, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent it accords its own property. The . (b) Anything contained herein to the contrary notwithstanding, the Collateral Agent shall not may from time to time, when the Collateral Agent deems it to be responsible necessary, appoint one or more subagents (each a "SUBAGENT") for the Collateral Agent hereunder with respect to all or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability part of the Collateral, . In the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall event that the Collateral Agent be responsible or liable to the Lenders for so appoints any failure to monitor or maintain any portion of the Collateral.Subagent with American Airlines - AMR Pledge Agreement

Appears in 1 contract

Samples: Credit Agreement (Amr Corp)

The Collateral Agent’s Duties. (a) The powers conferred on the Collateral Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged SharesCollateral, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent it accords its own property. The . (b) Anything contained herein to the contrary notwithstanding, the Collateral Agent shall not may from time to time, when the Collateral Agent deems it to be responsible necessary, appoint one or more subagents (each a "SUBAGENT") for the Collateral Agent hereunder with respect to all or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability part of the Collateral, . In the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall event that the Collateral Agent be responsible or liable so appoints any Subagent with respect to any Collateral, (i) the Lenders for any failure to monitor or maintain any portion assignment and pledge of such Collateral and the Collateral.security

Appears in 1 contract

Samples: Credit Agreement (Pacificare Health Systems Inc /De/)

The Collateral Agent’s Duties. (a) The powers conferred on the Collateral Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged SharesCollateral, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent it accords its own property. The Collateral Agent shall not be responsible for or have a duty . (b) Anything contained herein to ascertain or inquire into any representation or warranty regarding the existencecontrary notwithstanding, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall the Collateral Agent may from time to time, when the Collateral Agent deems it to be responsible necessary, appoint one or liable more subagents (each a "SUBAGENT") for the Collateral Agent hereunder with respect to the Lenders for any failure to monitor all or maintain any portion of the Collateral.any

Appears in 1 contract

Samples: Security Agreement (Leap Wireless International Inc)

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The Collateral Agent’s Duties. The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Shares, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if it treats such Collateral is accorded treatment substantially equal to that which in accordance with the Collateral Agent accords its own propertyAgent’s standard of care set forth herein and in the Indenture. The Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party Guarantor in connection therewith, nor shall the Collateral Agent be responsible or liable to the Lenders Secured Parties for any failure to monitor or maintain any portion of the Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Academy Sports & Outdoors, Inc.)

The Collateral Agent’s Duties. (a) The powers conferred on the Collateral Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged SharesCollateral, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent it accords its own property. The . (b) Anything contained herein to the contrary notwithstanding, the Collateral Agent shall not may from time to time, when the Collateral Agent deems it to be responsible necessary, appoint one or more subagents (each a "SUBAGENT") for the Collateral Agent hereunder with respect to all or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability part of the Collateral, . In the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall event that the Collateral Agent be responsible or liable to the Lenders for so appoints any failure to monitor or maintain any portion of the Collateral.Subagent with

Appears in 1 contract

Samples: Non Shared Collateral Security Agreement (Pacificare Health Systems Inc /De/)

The Collateral Agent’s Duties. The powers conferred on the Collateral Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Collateral, as to ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged SharesCollateral, whether or not the Collateral Agent or any other Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against any parties or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent it accords its own property. The Anything contained herein to the contrary notwithstanding, the Collateral Agent shall not may from time to time when the Collateral Agent deems it to be responsible necessary appoint one or more subagents (each a "Subagent") for the Collateral Agent hereunder with respect to all or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability part of the Collateral, . In the existence, priority or perfection of the Collateral Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall event that the Collateral Agent be responsible or liable so appoints any Subagent with respect to any Collateral, (1) the Lenders for any failure to monitor or maintain any portion assignment and pledge of such Collateral and the security interest granted in such Collateral.

Appears in 1 contract

Samples: Security Agreement (Servico Market Center Inc)

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