Common use of Duties of the Security Agent Clause in Contracts

Duties of the Security Agent. (a) The Security Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to the Agent a copy of any document received by the Security Agent from any Obligor under any Finance Document; and (ii) forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party. (c) The Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. (d) If the Security Agent receives notice from a Party referring to any Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Agent. (e) The Security Agent shall have only those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied).

Duties of the Security Agent. (a) The Security Agent’s duties under Agent shall promptly inform the Facility Agent of the contents of any notice or document or payment received by it (in its capacity as security agent and/or trustee for the Finance Documents are solely mechanical and administrative in natureParties) from the Borrower under any Finance Document. (b) The Security Agent shall promptly: (i) forward to Except where a Finance Document specifically provides otherwise, the Agent a copy of any document received by the Security Agent from any Obligor under any Finance Document; and (ii) forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party. (c) The Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Partythe Facility Agent. (dc) If the Security Agent receives notice from a Party any party to any Finance Document referring to any a Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Facility Agent. (ed) The Security Agent's duties under the Finance Documents are solely mechanical and administrative in nature. The Security Agent shall have only those no other duties, obligations and responsibilities save as expressly specified provided for in the Finance Documents to which it is expressed to be a party (and no others shall be implied).

Duties of the Security Agent. (a) The Security Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. (b) The Security Agent shall promptly: (i) forward to promptly inform the Facility Agent a copy of the contents of any notice or document or payment received by it (in its capacity as security agent and/or trustee for the Security Agent Secured Parties) from any Obligor under any Finance Document; and (ii) forward to a Party the original or a copy of any document which is delivered to the Security Agent for that Party by any other Party. (cb) The Except where a Finance Document specifically provides otherwise, the Security Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Partythe Facility Agent. (dc) If the Security Agent receives notice from a Party any party to any Finance Document referring to any a Finance Document, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the Facility Agent. (ed) The Security Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. The Security Agent shall have only those no other duties, obligations and responsibilities save as expressly specified provided for in the Finance Documents to which it is expressed to be a party (and no others shall be implied).