Common use of Exercise of Duties Clause in Contracts

Exercise of Duties. Anything herein to the contrary notwithstanding, (i) the exercise by the Collateral Agent of any of the rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral and (ii) each Grantor shall remain liable under each of the contracts and agreements included in the Collateral, including, without limitation, any Receivables and any agreements relating to Pledged Equity Interests, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof and no Secured Party shall have any obligation or liability under any such contracts or agreements included in the Collateral by reason of this Agreement or any other Loan Document, nor shall any Secured Party be obligated to make any inquiry as to the nature or sufficiency of any payment received by it or perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder or any rights under any contract or agreement included in the Collateral, including, without limitation, any Receivables and any agreements relating to Pledged Equity Interests.