Common use of Responsibilities of Agent Clause in Contracts

Responsibilities of Agent. Subject to the terms and conditions set forth herein and in the Note Ordinance, the Agent agrees to perform the duties of paying agent set forth herein and in the Note Ordinance. It is understood that in undertaking to perform such duties, and in the performance thereof, it is the intention of City that the Agent act solely as an agent and not as a principal. In the event of a conflict between the terms of this Agreement and the terms of the Note Ordinance relating to the duties of the Agent, the terms of this Agreement shall control.