Common use of Duties Specified Clause in Contracts

Duties Specified. Each Lender irrevocably authorizes Agent to take such action on such Lender's behalf and to exercise such powers hereunder and under the other instruments and agreements referred to herein (including, without limitation, the Loan Documents) as are specifically delegated to Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. Agent shall have only those duties and responsibilities which are expressly specified in this Agreement and the other Loan Documents and Agent may perform such duties by or through its agents or employees. The duties of Agent shall be mechanical and administrative in nature; Agent shall not have by reason of this Agreement a fiduciary relationship in respect of any Lender; and nothing in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon Agent any obligations in respect of this Agreement or the other instruments and agreements referred to herein except as expressly set forth herein or therein. Agent agrees promptly to transmit to Lenders any documents which have been transmitted by Borrower to Agent for transmittal to Lenders. Agent shall take such action as has been determined to be taken by a vote of the applicable Lenders hereunder. In performing its duties and functions under this Agreement and the Loan Documents, Agent will exercise the same care which it normally exercises in making and handling loans and handling collateral in which it alone is interested, but Agent assumes no further responsibility.