Responsibilities under Contracts Clause Samples

Responsibilities under Contracts. Anything herein to the contrary notwithstanding, the exercise by the Administrative Agent and the Lenders of their rights hereunder shall not release the Master Servicer, any Originator, Performance Guarantor or Borrower from any of their duties or obligations with respect to any Pool Receivables or under the related Contracts. The Lenders shall have no obligation or liability with respect to any Receivables or related Contracts, nor shall any of them be obligated to perform the obligations of Borrower, Performance Guarantor or any Originator.

Responsibilities under Contracts. (a) Anything herein to the contrary notwithstanding neither the Administrative Agent nor any Purchaser shall have any obligation or liability with respect to any Pool Receivables, Contracts related thereto or any other related purchase orders or other agreements, nor shall any of them be obligated to perform any of the obligations of Seller. (b) Seller hereby grants to Servicer an irrevocable power of attorney, with full power of substitution, coupled with an interest, to take in the name of Seller all steps which are necessary or advisable (but subject to Sections 8.01, 8.02 and 8.03) to endorse, negotiate or otherwise realize on any writing or other right of any kind held or transmitted by Seller or transmitted or received by a Purchaser (whether or not from Seller) in connection with any Pool Receivable. The Administrative Agent agrees that it shall only have the right to use the powers of attorney delivered to it in connection with this Agreement from and after the time it has given a notice pursuant to Section 8.03(b) or has replaced Terra Capital as Servicer.