Common use of Certain Rights Respecting Contracts Clause in Contracts

Certain Rights Respecting Contracts. Upon the occurrence and during the continuation of an Event of Default and subject to the Intercreditor, the Collateral Agent may assume any Grantor’s rights under any or all contracts of such Grantor, it being in the Collateral Agent’s sole discretion whether to do so and which Contracts are to be assumed. Without limiting the generality of the foregoing, in such event the Collateral Agent may notify (or require the applicable Grantor to notify) other parties to any such contract that it has assumed the applicable Grantor’s rights thereunder, may perform and discharge any or all such Grantor’s obligations thereunder, and, in the exercise of such rights, may pay any costs and expenses and employ agents and legal counsel, all at the sole cost and expense of the Grantors. The Collateral Agent will not be obligated to perform or discharge any obligation or duty to be performed or discharged by any Grantor under any contract, and each Grantor hereby agrees to indemnify the Collateral Agent, its nominee and each other principal for, and hold each such Person harmless from, any and all liability arising from such contracts, except to the extent that such liability results from such Person’s gross negligence or willful misconduct. Nothing herein shall be construed to place responsibility for the control, care, management, or repair of any property to which any Grantor has rights under the contracts on the Collateral Agent or make it liable for any negligence in the management, operation, upkeep, repair or control of such property.

Certain Rights Respecting Contracts. Upon The Agent shall have the occurrence and during right (but not the continuation of an Event of Default and subject obligation) to the Intercreditor, the Collateral Agent may assume any Grantor’s Debtor's rights under any (or all contracts all) Contracts of such GrantorDebtor, it being in the Collateral Agent’s 's sole discretion whether to do so and as to which Contracts are to be so assumed. Without limiting the generality of the foregoing, in such event the Collateral Agent may notify (or require the applicable Grantor Debtor to notify) other parties to any such contract Contract that it has assumed the applicable Grantor’s Debtor's rights thereunderunder the Contract, may perform and discharge any or all such Grantor’s Debtor's obligations thereunder, and, under any such Contract and in the exercise of such rights, may pay any costs and expenses and employ agents and legal counsel, all at the sole cost and expense of the GrantorsDebtors. The Collateral Agent will shall not be obligated to perform or discharge any obligation or duty to be performed or discharged by any Grantor Debtor under any contractContract, and each Grantor Debtor hereby agrees to indemnify the Collateral Agent, its nominee and each other principal Principal for, and hold each such Person harmless from, any and all liability arising from such contracts, except to the extent that such liability results from such Person’s gross negligence or willful misconductsaid Contracts. Nothing herein shall be construed to place responsibility for the control, care, management, or repair of any property to which any Grantor Debtor has rights under the contracts on Contracts upon the Collateral Agent or make it liable for any negligence in the management, operation, upkeep, repair or control of such property.