Common use of Relationship of Trustee Clause in Contracts

Relationship of Trustee. The Trustee and the Disbursement Agent shall not be under any responsibility in respect of the validity or sufficiency of this Agreement or the execution and delivery hereof or in respect of the validity or sufficiency of this Agreement or the execution and delivery hereof or in respect of the validity or sufficiency of any document or agreement delivered in connection herewith, including, but no limited to, any document or agreement the forms of which are attached hereto as Exhibits to this Agreement. Neither the Trustee nor the Disbursement Agent shall be accountable for the use or application of the funds in the Collateral Accounts or for disbursements therefrom, except as set forth in the Indenture and this Agreement.

Appears in 1 contract

Sources: Cash Collateral and Disbursement Agreement (XCL LTD)

Relationship of Trustee. The Trustee and the Disbursement Agent shall not be under any responsibility in respect of the validity or sufficiency of this Agreement or the execution and delivery hereof or in respect of the validity or sufficiency of this Agreement or the execution and delivery hereof or in respect of the validity or sufficiency of any document or agreement delivered in connection herewith, including, but no not limited to, any document or agreement the forms of which are attached hereto as Exhibits to this Agreement. Neither the Trustee nor the Disbursement Agent shall be accountable for the use or application of the funds in the Collateral Accounts Account or for disbursements therefrom, except as set forth in the Indenture and this Agreement.

Appears in 1 contract

Sources: Cash Collateral and Disbursement Agreement (Transamerican Refining Corp)