Common use of Without limiting Section 2 Clause in Contracts

Without limiting Section 2. 5(a), the powers conferred on the P1 Collateral Agent hereunder are solely to protect its interest (on behalf of the Senior Secured Parties) in the P1 Accounts and the P1 Account Collateral and shall not impose any duty on the P1 Collateral Agent to exercise any such powers. Except for the reasonable care of any P1 Account, Financial Asset or Permitted Investment in its possession or under its control (as the case may be), the performance of its respective obligations hereunder and the other Senior Secured Credit Documents, and the accounting for moneys actually received by it hereunder, the P1 Collateral Agent shall have no duty as to any P1 Account or the proceeds of Financial Assets held therein or credited thereto, or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any such P1 Account or proceeds. Each of the P1 Accounts Bank and the P1 Collateral Agent is required to exercise reasonable care in the custody and preservation of any P1 Account, Financial Asset or Permitted Investment in its possession or under its control (as the case may be); provided, that the P1 Accounts Bank in any event shall be deemed to have exercised reasonable care in the custody and preservation of any P1 Account if it takes such action for that purpose as the P1 Collateral Agent reasonably requests in writing (and in accordance with the terms of this Agreement) or if the P1 Accounts Bank acts in accordance with the requirements of Section 2.8, but, notwithstanding the foregoing, the failure of the P1 Accounts Bank to comply with any such request of the P1 Collateral Agent at any time shall not in itself be deemed a failure to exercise reasonable care. Nothing in this Section 2.17 shall be construed as limiting the P1 Collateral Agent’s maintenance of “control” (within the meaning of Sections 9-104(a)(2) and (3) or Sections 8-106(d)(1) and (2), as applicable, of the UCC) over the P1 Accounts.

Without limiting Section 2. 5(a), the powers conferred on the P1 T4 Collateral Agent hereunder are solely to protect its interest (on behalf of the Senior Secured Parties) in the P1 T4 Accounts and the P1 T4 Account Collateral and shall not impose any duty on the P1 T4 Collateral Agent to exercise any such powers. Except for the reasonable care of any P1 T4 Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be), the performance of its respective obligations hereunder and the other Senior Secured Credit Documents, and the accounting for moneys actually received by it hereunder, the P1 T4 Collateral Agent shall have no duty as to any P1 T4 Account or the proceeds of Financial Assets held therein or credited thereto, thereto or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any such P1 T4 Account or proceeds. Each of the P1 T4 Accounts Bank and the P1 T4 Collateral Agent is required to exercise reasonable care in the custody and preservation of any P1 T4 Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be); provided, that the P1 T4 Accounts Bank in any event shall be deemed to have exercised reasonable care in the custody and preservation of any P1 T4 Account if it takes such action for that purpose as the P1 T4 Collateral Agent reasonably requests in writing (and in accordance with the terms of this Agreement) or if the P1 T4 Accounts Bank acts in accordance with the requirements of Section 2.8, but, notwithstanding the foregoing, the failure of the P1 T4 Accounts Bank to comply with any such request of the P1 T4 Collateral Agent at any time shall not in itself be deemed a failure to exercise reasonable care. Nothing in this Section 2.17 shall be construed as limiting the P1 T4 Collateral Agent’s maintenance of “control” (within the meaning of Sections 9-104(a)(2) and (3) or Sections 8-106(d)(1) and (2), as applicable, of the UCC) over the P1 T4 Accounts.

Without limiting Section 2. 5(a), the powers conferred on the P1 ▇▇▇▇▇ Collateral Agent hereunder are solely to protect its interest (on behalf of the Senior FinCo Secured Parties) in the P1 ▇▇▇▇▇ Accounts and the P1 ▇▇▇▇▇ Account Collateral and shall not impose any duty on the P1 ▇▇▇▇▇ Collateral Agent to exercise any such powers. Except for the reasonable care of any P1 ▇▇▇▇▇ Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be), the performance of its respective obligations hereunder and the other Senior FinCo Secured Credit Documents, and the accounting for moneys actually received by it hereunder, the P1 ▇▇▇▇▇ Collateral Agent shall have no duty as to any P1 ▇▇▇▇▇ Account or the proceeds of Financial Assets held therein or credited thereto, or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any such P1 ▇▇▇▇▇ Account or proceeds. Each of the P1 ▇▇▇▇▇ Accounts Bank and the P1 ▇▇▇▇▇ Collateral Agent is required to exercise reasonable care in the custody and preservation of any P1 ▇▇▇▇▇ Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be); provided, that the P1 ▇▇▇▇▇ Accounts Bank in any event shall be deemed to have exercised reasonable care in the custody and preservation of any P1 FinCo Account if it takes such action for that purpose as the P1 ▇▇▇▇▇ Collateral Agent reasonably requests in writing (and in accordance with the terms of this Agreement) or if the P1 FinCo Accounts Bank acts in accordance with the requirements of Section 2.8, but, notwithstanding the foregoing, the failure of the P1 ▇▇▇▇▇ Accounts Bank to comply with any such request of the P1 ▇▇▇▇▇ Collateral Agent at any time shall not in itself be deemed a failure to exercise reasonable care. Nothing in this Section 2.17 shall be construed as limiting the P1 ▇▇▇▇▇ Collateral Agent’s maintenance of “control” (within the meaning of Sections 9-104(a)(2) and (3) or Sections 8-106(d)(1) and (2), as applicable, of the UCC) over the P1 ▇▇▇▇▇ Accounts.

Without limiting Section 2. 5(a), the powers conferred on the P1 ▇▇▇▇▇ Collateral Agent hereunder are solely to protect its interest (on behalf of the Senior FinCo Secured Parties) in the P1 ▇▇▇▇▇ Accounts and the P1 ▇▇▇▇▇ Account Collateral and shall not impose any duty on the P1 ▇▇▇▇▇ Collateral Agent to exercise any such powers. Except for the reasonable care of any P1 ▇▇▇▇▇ Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be), the performance of its respective obligations hereunder and the other Senior FinCo Secured Credit Documents, and the accounting for moneys actually received by it hereunder, the P1 ▇▇▇▇▇ Collateral Agent shall have no duty as to any P1 FinCo Account or the proceeds of Financial Assets held therein or credited thereto, or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any such P1 ▇▇▇▇▇ Account or proceeds. Each of the P1 ▇▇▇▇▇ Accounts Bank and the P1 ▇▇▇▇▇ Collateral Agent is required to exercise reasonable care in the custody and preservation of any P1 ▇▇▇▇▇ Account, Financial Asset Asset, or Permitted Investment in its possession or under its control (as the case may be); provided, that the P1 ▇▇▇▇▇ Accounts Bank in any event shall be deemed to have exercised reasonable care in the custody and preservation of any P1 FinCo Account if it takes such action for that purpose as the P1 ▇▇▇▇▇ Collateral Agent reasonably requests in writing (and in accordance with the terms of this Agreement) or if the P1 FinCo Accounts Bank acts in accordance with the requirements of Section 2.8, but, notwithstanding the foregoing, the failure of the P1 ▇▇▇▇▇ Accounts Bank to comply with any such request of the P1 ▇▇▇▇▇ Collateral Agent at any time shall not in itself be deemed a failure to exercise reasonable care. Nothing in this Section 2.17 shall be construed as limiting the P1 ▇▇▇▇▇ Collateral Agent’s maintenance of “control” (within the meaning of Sections 9-104(a)(2) and (3) or Sections 8-106(d)(1) and (2), as applicable, of the UCC) over the P1 ▇▇▇▇▇ Accounts.