Common use of The Agent's Duties Clause in Contracts

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 3 contracts

Samples: Credit Agreement (Precision Response Corp), Security Agreement (Smithfield Foods Inc), Security Agreement (Smithfield Foods Inc)

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The Agent's Duties. The powers conferred on the Agent hereunder under this Agreement are solely to protect its interest and the interests of the Lenders in the Collateral and shall not impose any duty upon it the Agent to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall not have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Credit and Security Agreement (Cityscape Financial Corp), Revolving Credit and Security Agreement (Cityscape Financial Corp)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its the Lenders' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. except as otherwise provided under Applicable Law. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights fights against prior parties or any other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Security Agreement (Burke Industries Inc /Ca/), Security Agreement (Burke Industries Inc /Ca/)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its the interest of the Agent and the Lenders in the Parts Collateral and shall not impose any duty upon it to exercise any such powers. Except for reasonable care for the safe custody of any Parts Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Parts Collateral or as to the taking of or the failure to take any necessary steps action hereunder, including without limitation, with respect to preserve the preservation of rights against prior parties or any other rights pertaining to any Parts Collateral.

Appears in 2 contracts

Samples: Security Agreement (America West Airlines Inc), Security Agreement (America West Airlines Inc)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its the Agent's interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Credit Agreement (Amscan Holdings Inc)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its the Secured Parties’ interest in the Collateral and shall not impose any duty upon it the Agent to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Trinity Capital Inc.)

The Agent's Duties. The powers conferred on the Agent and each of the Banks hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for For the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent and the Banks shall not have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Credit Agreement and Guaranty (Hallwood Group Inc)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its and the other Secured Parties’ interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.safe

Appears in 1 contract

Samples: Credit Agreement (International Rectifier Corp /De/)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody preservation of any Collateral in its possession and the accounting for moneys actually received by it hereunderpossession, the Agent shall have no duty as to any Collateral Collateral, or as to the taking of any steps necessary steps to preserve rights against prior third parties or any other rights pertaining to any Collateral. The Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which accords its own property.

Appears in 1 contract

Samples: Entire Agreement (Summit Design Inc)

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The Agent's Duties. The powers conferred on ------------------ the Agent hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the The Agent shall not have no any duty as to any the Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateralparties.

Appears in 1 contract

Samples: Security Agreement (American Eco Corp)

The Agent's Duties. The powers conferred on the Agent hereunder are solely to protect its interest and the interests of the Banks in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral, whether or not the Agent has or is deemed to have knowledge of such matters.

Appears in 1 contract

Samples: Security Agreement (Systemax Inc)

The Agent's Duties. The powers conferred on the Agent ------------------ hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Project Credit Agreement (Deltic Timber Corp)

The Agent's Duties. The powers conferred on the Agent and each of the Banks hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent and the Banks shall not have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Credit Agreement (Boundless Corp)

The Agent's Duties. (a) The powers conferred on the Agent hereunder are solely to protect its the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Agent shall have no duty as to any Collateral or Collateral, as to the ascertaining or taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.action with respect

Appears in 1 contract

Samples: Canadian Security Agreement (Eastman Kodak Co)

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