Common use of Second Lien Trustee Clause in Contracts

Second Lien Trustee. In acting hereunder, the Second Lien Trustee shall have the benefits of the rights, protections and immunities granted to it in the Indenture, all of which are incorporated by reference herein, mutatis mutandis. In no event shall the Second Lien Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Second Lien Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. In no event shall the Second Lien Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Second Lien Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

Appears in 1 contract

Sources: Intercreditor Agreement (Platinum Energy Solutions, Inc.)

Second Lien Trustee. In acting hereunder, the Second Lien Trustee shall have the benefits of the rights, protections and immunities granted to it in the Indenture, all of which are incorporated by reference herein, mutatis mutandis. In no event shall the Second Lien Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Second Lien Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. In no event shall the Second Lien Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Second Lien Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.. 38

Appears in 1 contract

Sources: Indenture (Saratoga Resources Inc /Tx)

Second Lien Trustee. In acting hereunder, the Second Lien Trustee shall have the benefits of the rights, protections and immunities granted to it in the Second Lien Indenture, all of which are incorporated by reference herein, mutatis mutandis. In no event shall the Second Lien Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Second Lien Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. In no event shall the Second Lien Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Second Lien Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

Appears in 1 contract

Sources: Intercreditor Agreement (Saratoga Resources Inc /Tx)