Condition of the Collateral. Neither the Collateral Agent nor any Creditor shall be liable for (i) any failure or defect of title to the Collateral, (ii) any failure to perfect the lien of the Pledge Agreement, (iii) any decline in the value of Collateral or (iv) any statements of fact in the recitals in this Agreement or in the Pledge Agreement.
Appears in 2 contracts
Sources: Collateral Agent and Intercreditor Agreement (Standard Pacific Corp /De/), Collateral Agent and Intercreditor Agreement (Standard Pacific Corp /De/)
Condition of the Collateral. Neither the Collateral Agent --------------------------- nor any Creditor shall be liable for (i) any failure or defect of title to the Collateral, (ii) any failure to perfect the lien Lien of the Pledge AgreementCollateral Documents, or (iii) any decline in the value of Collateral or (iv) any statements of fact in the recitals in this Agreement or in any Collateral Documents. The Collateral Agent shall not be responsible for the Pledge Agreementsufficiency, adequacy or form of any insurance provided to the Collateral Agent pursuant to any Collateral Documents.
Appears in 1 contract
Sources: Collateral Agent and Intercreditor Agreement (MGM Mirage)