Common use of Agent as Trustee Clause in Contracts

Agent as Trustee. (a) The Agent in its capacity as trustee or otherwise shall not be liable for any failure, omission, or defect in perfecting the security constituted by the Securities. (b) The Agent in its capacity as trustee or otherwise may accept without enquiry such title as an Obligor may have to the property over which security is intended to be created by the Securities. (c) Each Bank hereby confirms its approval of the Transaction Documents and any security created pursuant thereto and hereby authorises, empowers and directs the Agent (by itself or by such person(s) as it may nominate) to execute and enforce the same as trustee or as otherwise provided (and whether or not expressly in the Banks' names) on its behalf.