Common use of Nature of Duties of Agent Clause in Contracts

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature. Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 13 contracts

Samples: Term Loan Credit Agreement (Team Inc), Credit Agreement (Adit EdTech Acquisition Corp.), Term Loan Credit Agreement (Team Inc)

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Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 7 contracts

Samples: Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (Hooper Holmes Inc)

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconductmisconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction. The duties of Agent shall be mechanical and administrative in nature. Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any LenderLender (regardless of whether a Default of Event of Default shall have occurred or be continuing).

Appears in 4 contracts

Samples: Term Loan Credit Agreement (Team Inc), Term Loan Credit Agreement (Team Inc), Term Loan Credit Agreement (Team Inc)

Nature of Duties of Agent. The Agent shall not have no any duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to in respect of any Lender or any participant of any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Spinnaker Industries Inc), Credit Agreement (Spinnaker Industries Inc)

Nature of Duties of Agent. The Agent shall have has no duties or ------------------------- responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to the Issuing Bank, any Lender or any participant of any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Rental Service Corp), Credit Agreement (Rental Service Corp)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature. The Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Team Inc), Credit Agreement (Team Inc)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and and. administrative in nature. The Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (American Railcar Industries, Inc.)

Nature of Duties of Agent. The Agent shall have has no duties ------------------------- or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Envirodyne Industries Inc)

Nature of Duties of Agent. (a) Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature. Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (GAN LTD)

Nature of Duties of Agent. The Agent shall have has no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does not shall have a no fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Aerosol Services Co Inc)

Nature of Duties of Agent. The Agent shall have has no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless other than as caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Mobile Mini Inc)

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Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to in respect of any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Safety 1st Inc)

Nature of Duties of Agent. The Agent shall have has no duties hereof or responsibilities except those expressly set forth in this Agreement and the Loan DocumentsOther Agreements. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Smith Environmental Technologies Corp /De/)

Nature of Duties of Agent. Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of Agent shall be mechanical and administrative in nature. Agent does not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.. 11.3

Appears in 1 contract

Samples: Term Loan Credit Agreement (Team Inc)

Nature of Duties of Agent. The Agent shall have has no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Perry-Judds Inc)

Nature of Duties of Agent. The Agent shall have no duties or responsibilities except those expressly set forth in the Loan Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does not have a fiduciary relationship with or any implied duties to in respect of any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Chi Energy Inc)

Nature of Duties of Agent. The Agent shall have has no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. ; the Agent does shall not have by reason of this Credit Agreement or any of the other Credit Documents a fiduciary relationship with or any implied duties to in respect of any Lender or any participant of any Lender.;

Appears in 1 contract

Samples: Credit Agreement (Imagyn Medical Technologies Inc)

Nature of Duties of Agent. The Agent shall have has no duties or responsibilities except those expressly set forth in the Loan Credit Documents. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it or them as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature. The Agent does shall not have a fiduciary relationship with or any implied duties to any Lender or any participant of any Lender.

Appears in 1 contract

Samples: Credit Agreement (Alterra Healthcare Corp)

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