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 Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the 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, including the filing of any financing or continuation statements relating to 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 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 (b) take any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral, but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Pledgor, 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 Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody duty to exercise reasonable care in respect 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, including the filing of any financing as to ascertaining or continuation statements relating to 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 take taking 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 (b) take as to the taking of any necessary steps to preserve rights against prior parties 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 other 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 Pledged Collateral, but may do so at its option, and all reasonable expenses incurred Collateral or in connection therewith shall be for or (ii) notify the sole account Debtor of any decline in the Pledgor, and shall be added to the Secured Obligationsvalue 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 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, including the filing of any financing or continuation statements relating to 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 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 (b) take any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral, but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Pledgor, and shall be added to the Secured Obligations. No provision of this Agreement shall require the Collateral Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

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 the Collateral Agent or any of its designated agents to exercise any such powers. Except for the 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, including Collateral and no implied duties or obligations shall be read into this Agreement against the filing of any financing or continuation statements relating to the Pledged CollateralCollateral Agent. 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 that is substantially equal equivalent to that which the Collateral Agent accords its own Propertyproperty, it being understood expressly agreed, to the maximum extent permitted by applicable Laws, that the Collateral Agent shall not be under any obligation to have no responsibility for (a) ascertain or 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 (b) take taking any necessary steps to preserve rights against prior any parties or any other rights pertaining with respect to any Pledged Collateral, but or (b) taking any action to protect against any diminution in value of the Pledged Collateral, but, in each case, the Collateral Agent may do so at its option, and all reasonable expenses reasonably incurred in connection therewith shall be for the sole account part of the Pledgor, and shall be added to the Secured Obligations. The provisions of Section 9.10 of the Collateral Agency Agreement (“Collateral Agent’s Rights”) are incorporated herein by reference as if such Section were set forth herein in its entirety.

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 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, including the filing of any financing or continuation statements relating to the Pledged Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation safekeeping of the Pledged any Collateral in its possession if the Pledged such Collateral is accorded treatment substantially equal to that the safekeeping which the Collateral Agent accords its own Propertyproperty of like kind. Except for the safekeeping of any Collateral in its possession and the accounting for monies and for other properties actually received by it hereunder, it being understood that the Collateral Agent shall not be under have no duty, as to any obligation Collateral, as to (a) ascertain ascertaining or take taking 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 (b) take as to the taking of any necessary steps to preserve rights against prior parties any Persons or any other rights pertaining to any Pledged Collateral. The Collateral Agent will take action in the nature of exchanges, conversions, redemption, tenders and the like requested in writing by the Pledgor with respect to any of the Collateral in the Collateral Agent’s possession if the Collateral Agent in its reasonable judgment determines that such action will not impair the Security Interest or the value of the Collateral, but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for the sole account a failure of the Pledgor, and Collateral Agent to comply with any such request shall not of itself be added deemed a failure to the Secured Obligationsexercise reasonable care.

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 Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for Other than the exercise of reasonable care to assure the safe custody of any Pledged the Collateral in its possession and while being held by the accounting for moneys actually received by it hereunderCollateral Agent pursuant to the terms of the Loan Documents, the Collateral Agent shall have no duty as or liability to any Pledged preserve rights pertaining thereto, it being understood and agreed that the grantor of such Collateral shall be responsible for preservation of all rights in the Collateral, including and the filing Collateral Agent shall be relieved of any financing all responsibility for the Collateral upon surrendering it or continuation statements relating tendering the surrender of it to the Pledged Collateralsuch grantor. 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 Propertyproperty, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being understood that the Collateral Agent shall not be under any obligation to (a) ascertain or 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 (b) take responsibility for taking any necessary steps to preserve rights against prior any parties or any other rights pertaining with respect to any Pledged Collateral, but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for the sole account of the Pledgor, and shall be added Collateral. In the event of a public or private sale of Collateral pursuant to the Secured Obligationsterms of the Loan Documents, the Collateral Agent shall have no obligation to clean-up, repair or otherwise prepare the Collateral for sale.

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 Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for Other than the exercise of reasonable care to assure the safe custody of any the Pledged Collateral in its possession and while being held by the accounting for moneys actually received by it hereunderCollateral Agent pursuant to the terms of the Secured Credit Documents, the Collateral Agent shall have no duty as or liability to any preserve rights pertaining thereto, it being understood and agreed that the grantor of such Pledged Collateral shall be responsible for preservation of all rights in the Pledged Collateral, including and the filing Collateral Agent shall be relieved of any financing or continuation statements relating to all responsibility for the Pledged CollateralCollateral upon surrendering it or tendering the surrender of it to such grantor. 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 Propertyproperty, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being understood that the Collateral Agent shall not be under any obligation to (a) ascertain or 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 (b) take responsibility for taking any necessary steps to preserve rights against prior any parties or any other rights pertaining with respect to any of the Pledged Collateral, but may do so at its option, and all reasonable expenses incurred in connection therewith shall be for . In the sole account event of a public or private sale of Pledged Collateral pursuant to the terms of the PledgorSecured Credit Documents, and the Collateral Agent shall be added have no obligation to clean-up, repair or otherwise prepare the Secured ObligationsPledged Collateral for sale.