Common use of Powers and Duties of Agent; Standard of Care Clause in Contracts

Powers and Duties of Agent; Standard of Care. Agent shall perform all duties expressly imposed upon Agent in this Agreement and those other duties reasonably incidental thereto, subject to the approval of the Required Lenders as provided in this Agreement. Agent's duties hereunder are administrative and ministerial in nature, and Agent's capacity is that of an independent contractor for Lenders. Agent is not a trustee or other fiduciary for Lenders, and Agent has no duties whatsoever to Lenders except as expressly set forth in this Agreement. Agent shall have no liability to Lenders for any action or inaction relating to this Agreement or the other Loan Documents, EVEN FOR MATTERS ARISING FROM ITS ORDINARY NEGLIGENCE, except for actual losses caused by its gross negligence or reckless or willful misconduct.

Powers and Duties of Agent; Standard of Care. Agent shall perform all duties expressly imposed upon Agent in this Agreement and those other duties reasonably incidental thereto, subject to the approval of the Required Lenders as provided to the extent required in this Agreement. Agent's duties hereunder are administrative and ministerial in nature, and Agent's capacity is 55 62 that of an independent contractor for Lenders. Agent is not a trustee or other fiduciary for Lenders, and Agent has no duties whatsoever to Lenders except as expressly set forth in this Agreement. Agent shall have no liability to Lenders for any action or inaction relating to this Agreement or the other Loan Documents, EVEN FOR MATTERS ARISING FROM ITS ORDINARY NEGLIGENCEeven for matters arising from its ordinary negligence, except for actual losses caused by its gross negligence or reckless or willful misconduct.