Perfection. The Securities Intermediary shall have no responsibility or liability for # preparing, recording, filing, re-recording or refiling any financing statement, continuation statement, document, instrument or other notice in any public office at any time or times, # the correctness of any such financing statement, continuation statement, document or instrument or other such notice, # taking any action to perfect or maintain the perfection of any security interest granted to the Secured Party or otherwise or # the validity or perfection of any such lien or security interest.

The Securities Intermediary shall not be held responsible or liable for or in respect of, and makes no representation or warranty with respect to # the preparation, filing, correctness or accuracy of any financing statement, continuation statement or recording of any document (including this Agreement) or instrument in any public office at any time, or # the monitoring, creation, maintenance, enforceability, existence, status, validity, priority or perfection of any security interest, lien or collateral or the performance of any collateral.