Common use of Liability under Contracts Clause in Contracts

Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release any Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of the execution and delivery of this Security Agreement, nor shall the Agent or any Bank be obligated to 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.

Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release any the Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release any the Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of the execution and delivery of this Security Agreement, nor shall the Agent or any Bank be obligated to perform any of the obligations or duties of any the Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.