Common use of Trustee and Collateral Agent Clause in Contracts

Trustee and Collateral Agent. (a) Notwithstanding anything herein to the contrary, it is hereby expressly agreed and acknowledged that the subordination and other agreements and obligations of the Trustee and Collateral Agent herein are made solely in its capacity as Trustee and Collateral Agent, respectively (and not in its individual capacity). Neither the Trustee nor the Collateral Agent shall have any duties, obligations or responsibilities to the Agent or any other Person under this Agreement except as expressly set forth herein. Nothing in this Agreement shall be construed to operate as a waiver by the Trustee or the Collateral Agent of the benefit of any exculpatory provisions, presumptions, indemnities, protections, benefits, immunities or reliance rights contained in the Indenture, all of which are incorporated herein by reference mutatis mutandis. (b) Each of the Trustee and the Collateral Agent may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee and the Collateral Agent need not investigate any fact or matter stated in any such document. (c) In no event shall the Trustee or the Collateral Agent be liable for any special, punitive, indirect or consequential loss or damage of any kind whatsoever (including, but not limited to, lost profit) even if the Trustee or the Collateral Agent, respectively, had been advised of the likelihood of such loss or damage and regardless of the form of action. (d) Each of the Trustee and the Collateral Agent shall not be responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including without limitation: acts of Got, earthquakes, fire, floods, wars, civil or military disturbances, sabotage, epidemics, riots, terrorist acts, interruptions, loss or malfunctions of utilities, computer (hardware or software) or communications service, accidents, labor disputes, and acts of civil or military authority or governmental actions.

Appears in 2 contracts

Sources: Subordination Agreement (Wet Seal Inc), Bridge Subordination Agreement (Wet Seal Inc)