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 duty to exercise reasonable care in respect 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 Collateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against prior parties. 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 property it holds as collateral generally. Except as provided in this Section 4.2 and except to the extent of any gross negligence or willful misconduct of the Collateral Agent or the other Secured Parties, the Collateral Agent shall not have any duty or liability to protect or preserve any Collateral or to preserve rights pertaining thereto. Nothing contained in this Agreement shall be construed as requiring or obligating the Collateral Agent, and the Collateral Agent shall not be required or obligated, to (i) present or file any claim or notice or take any action, with respect to any Collateral or in connection therewith or (ii) notify the Debtor of any decline in the value of any Collateral.

The Collateral Agent’s Duties. The powers conferred on the Collateral Agent hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the duty to exercise reasonable care in respect safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Pledged Collateral, as including the filing of any financing or continuation statements relating to ascertaining the Pledged Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Collateral Agent accords its own Property, it being understood that the Collateral Agent shall not be under any obligation to (a) ascertain or taking take action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Collateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or as to the taking of (b) take any necessary steps to preserve rights against prior parties. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of parties or any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords property it holds as collateral generally. Except as provided in this Section 4.2 and except to the extent of any gross negligence or willful misconduct of the Collateral Agent or the other Secured Parties, the Collateral Agent shall not have any duty or liability to protect or preserve any Collateral or to preserve rights pertaining thereto. Nothing contained in this Agreement shall be construed as requiring or obligating the Collateral Agentto any Pledged Collateral, but may do so at its option, and the Collateral Agent shall not be required or obligated, to (i) present or file any claim or notice or take any action, with respect to any Collateral or all reasonable expenses incurred in connection therewith or (ii) notify shall be for the Debtor sole account of any decline in the value of any CollateralPledgor, and shall be added to the Secured Obligations.

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. The Collateral Agent shall be deemed to have exercised reasonable care in the safekeeping of any Collateral in its possession if such Collateral is accorded treatment substantially equal to the safekeeping which the Collateral Agent accords its own property of like kind. Except for the duty to exercise reasonable care in respect safekeeping of any Collateral in its possession and the accounting for moneys monies and for other properties actually received by it hereunder, the Collateral Agent shall have no duty 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 Collateral, whether or not the Collateral Agent has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against prior partiesany Persons or any other rights pertaining to any Collateral. The Collateral Agent shall be deemed to have exercised reasonable care will take action in the custody nature of exchanges, conversions, redemption, tenders and preservation the like requested in writing by the Pledgor with respect to any of any the Collateral in its the Collateral Agent’s possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords property it holds as collateral generally. Except as provided in this Section 4.2 and except to its reasonable judgment determines that such action will not impair the extent Security Interest or the value of any gross negligence or willful misconduct the Collateral, but a failure of the Collateral Agent or the other Secured Parties, the Collateral Agent to comply with any such request shall not have any duty or liability of itself be deemed a failure to protect or preserve any Collateral or to preserve rights pertaining thereto. Nothing contained in this Agreement shall be construed as requiring or obligating the Collateral Agent, and the Collateral Agent shall not be required or obligated, to (i) present or file any claim or notice or take any action, with respect to any Collateral or in connection therewith or (ii) notify the Debtor of any decline in the value of any Collateralexercise reasonable care.