Common use of NO DUTY ON THE PART OF COLLATERAL TRUSTEE Clause in Contracts

NO DUTY ON THE PART OF COLLATERAL TRUSTEE. The powers conferred on the Collateral Trustee hereunder are solely to protect the interests of the Collateral Trustee in the Collateral and shall not impose any duty upon the Collateral Trustee to exercise any such powers. The Collateral Trustee shall be accountable only for amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to such Grantor for any act or failure to act hereunder, except for their own negligence or willful misconduct.