Acceptance or Shipping Per Instructions of Returned Collateral is Acquittance. Acceptance by a Company of any Collateral delivered to it pursuant to any provision of this Agreement (whether or not the recipient issues a receipt for it) or shipping by the Agent of Collateral in substantial compliance with shipping instructions given by either Company or its designee shall be a complete and full acquittance for the Collateral so delivered or shipped, and the Agent shall thereby be released and discharged from any and all liability or responsibility for it arising then or thereafter (except liability for the Agent’s own gross negligence or willful misconduct.)
Appears in 3 contracts
Samples: Assignment and Assumption, Credit Agreement (Homebanc Corp), Assignment and Assumption (Homebanc Corp)
Acceptance or Shipping Per Instructions of Returned Collateral is Acquittance. Acceptance by a the Company of any Collateral delivered to it pursuant to any provision of this Agreement (whether or not the recipient issues a receipt for it) or shipping by the Agent of Collateral in substantial compliance with shipping instructions given by either the Company or its designee shall be a complete and full acquittance for the Collateral so delivered or shipped, and the Agent shall thereby be released and discharged from any and all liability or responsibility for it arising then or thereafter (except liability for the Agent’s own gross negligence or willful misconduct.)
Appears in 2 contracts
Samples: Credit Agreement (E Loan Inc), Credit Agreement (Homebanc Corp)
Acceptance or Shipping Per Instructions of Returned Collateral is Acquittance. Acceptance by a the Company of any Collateral delivered to it pursuant to any provision of this Agreement (whether or not the recipient issues a receipt for it) or shipping by the Agent of Collateral in substantial compliance with shipping instructions given by either the Company or its designee shall be a complete and full acquittance for the Collateral so delivered or shipped, and the Agent shall thereby be released and discharged from any and all liability or responsibility for it arising then or thereafter (except liability for the Agent’s 's own gross negligence or willful misconduct.)
Appears in 1 contract
