Administrative Agent’s Duties. The powers conferred on the Administrative 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 Administrative Agent shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.
Appears in 11 contracts
Samples: Pledge Agreement (PG&E Corp), Pledge Agreement (Sun Hydraulics Corp), Security Agreement (Armstrong Resource Partners, L.P.)
Administrative Agent’s Duties. The powers conferred on Notwithstanding any provision contained in this Agreement, the Administrative Agent hereunder are solely shall have no duty to protect its interest in exercise any of the Pledged Collateral rights, privileges or powers afforded to it and shall not impose be responsible to any duty upon it Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise any such powers. Except for of reasonable care to assure the safe custody of any Pledged Collateral in its the Administrative Agent’s possession and the accounting for moneys actually received by it the Administrative Agent hereunder, the Administrative Agent shall have no duty as or liability to exercise or preserve any Pledged Collateral rights, privileges or as powers pertaining to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.
Appears in 7 contracts
Samples: Amended and Restated Security Agreement (Menlo Therapeutics Inc.), Security Agreement (Foamix Pharmaceuticals Ltd.), Amended and Restated Security Agreement (Pacer International Inc)
Administrative Agent’s Duties. The powers conferred on the Administrative 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 Administrative Agent shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral, except as otherwise provided by Law. 9.
Appears in 2 contracts
Samples: Credit Agreement (DLH Holdings Corp.), Credit Agreement (DLH Holdings Corp.)
Administrative Agent’s Duties. The powers conferred on the Administrative 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 Administrative Agent shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral. 9.
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Administrative Agent’s Duties. The powers conferred on the Administrative 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 Administrative Agent shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral, except as otherwise provided by Law.
Appears in 1 contract
Administrative Agent’s Duties. The powers conferred on the Administrative 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 Administrative Agent shall have no duty as to DOCVARIABLE #DNDocID \* MERGEFORMAT 752131431 any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.
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Administrative Agent’s Duties. The powers conferred on Notwithstanding any provision contained in this Agreement, the Administrative Agent hereunder are solely shall have no duty to protect its interest in exercise any of the Pledged Collateral rights, privileges or powers afforded to it and shall not impose be responsible to any duty upon it Pledgor or any other Person for any failure to do so or delay in doing so. Beyond the exercise any such powers. Except for of reasonable care to assure the safe custody of any the Pledged Collateral in its possession while held hereunder and the accounting for moneys actually received by it the Administrative Agent hereunder, the Administrative Agent shall have no duty as or liability to exercise or preserve any Pledged Collateral rights, privileges or as powers pertaining to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.
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