No Duty on Collateral Agent’s Part. The powers conferred on the Collateral Agent hereunder are solely to protect the Collateral Agent's interests in the Argentine Collateral and shall not impose any duty upon the Collateral Agent to exercise any such powers. The Collateral Agent shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Collateral Agent nor any of its shareholders, officers, directors, employees or agents shall be responsible to the Pledgor for any act or failure to act hereunder, except for its own gross negligence or willful misconduct, and specifically disclaims any liability for negligence.
Appears in 2 contracts
Sources: Pledge and Security Agreement (Petersen Energia Inversora, S.A.), Pledge and Security Agreement (Petersen Energia Inversora, S.A.)