Agent’s Liability for Collateral. So long as Agent complies with its obligations, if any, under the Code, Lenders shall not in any way or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising in any manner or fashion from any cause other than Lender’s gross negligence or willful misconduct; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower.
Appears in 3 contracts
Samples: Term Loan and Security Agreement (Intarcia Therapeutics, Inc), Equipment Loan and Security Agreement (Renovis Inc), Equipment Loan and Security Agreement (Renovis Inc)
Agent’s Liability for Collateral. So long as Agent complies with its obligations, if any, under the Code, Lenders Agent shall not in any way or manner be liable or responsible for: (ai) the safekeeping of the Collateral; (bii) any loss or damage thereto occurring or arising in any manner or of fashion from any cause other than LenderAgent’s gross negligence or willful misconduct; (ciii) any diminution in the value thereof; or (div) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower.
Appears in 1 contract
Samples: Equipment Loan and Security Agreement (Intermix Media, Inc.)
Agent’s Liability for Collateral. So long as Agent complies with its obligations, if any, under the Code, Lenders shall not in any way or manner be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising in any manner or fashion from any cause other than Lender’s 's gross negligence or willful misconduct; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person whomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower.
Appears in 1 contract
Samples: Landlord Agreement (Colo Com)