Common use of Appointment and Authorization of Collateral Agent Clause in Contracts

Appointment and Authorization of Collateral Agent. The Secured Creditor hereby irrevocably (subject to Section 8.10) appoints, designates and authorizes the Collateral Agent to take such action on his behalf under the provisions of this Agreement and the Note and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or the Note, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or the Note, the Collateral Agent shall not have any duty or responsibility except those expressly set forth herein, nor shall the Collateral Agent have or be deemed to have any fiduciary relationship with the Secured Creditor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the Note or otherwise exist against the Collateral Agent.

Appointment and Authorization of Collateral Agent. The Each Secured Creditor hereby irrevocably (subject to Section 8.10) appoints, designates and authorizes the Collateral Agent to take such action on his its behalf under the provisions of this Agreement and the Note Notes and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or the NoteNotes, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or the NoteNotes, the Collateral Agent shall not have any duty or responsibility except those expressly set forth herein, nor shall the Collateral Agent have or be deemed to have any fiduciary relationship with the any Secured Creditor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the Note Notes or otherwise exist against the Collateral Agent.

Appointment and Authorization of Collateral Agent. The Each of the Secured Creditor Creditors hereby irrevocably (subject to Section 8.10) appoints, designates and authorizes the Collateral Agent to take such action on his its behalf under the provisions of this Agreement and the Note Notes and to exercise such powers and perform such duties as are expressly delegated to it by the terms of this Agreement or the NoteNotes, together with such powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or the NoteNotes, the Collateral Agent shall not have any duty duties or responsibility responsibilities except those expressly set forth herein, nor shall the Collateral Agent have or be deemed to have any fiduciary relationship with the Secured Creditor, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or the Note Notes or otherwise exist against the Collateral Agent.