Common use of BANK'S DUTY OF CARE Clause in Contracts

BANK'S DUTY OF CARE. In the event that the Bank takes possession of the Collateral, the Bank may, but shall be under no obligation to, take such actions as it may deem appropriate to protect the Collateral by insurance or otherwise. In such event, the Bank's sole duty with respect to the Collateral shall be use reasonable care in the custody, use, operation and physical preservation of the Collateral in its possession, and the Grantor shall, as an Obligation, reimburse the Bank for all reasonable costs and expenses, including but not limited to insurance costs, taxes and other charges, incurred in connection with the custody, use, operation, care or physical preservation of the Collateral. The Bank shall incur no liability to the Grantor for any act of government, act of God, robbery, vandalism, war, insurrection, riot, civil unrest, fire, flood or other destruction in whole or part, negligence or wrongful act of custodians or agents, or its failure to provide adequate protection or insurance for the Collateral. The Bank shall have no obligation to take any action to preserve any rights in any of the Collateral against the other persons and Grantor hereby agrees to take such action; Grantor shall defend the Collateral against all such claims and demands of all persons, at all times, as are adverse to the Bank. The Bank shall have no obligation to realize upon any Collateral as authorized herein or by law.

BANK'S DUTY OF CARE. In the event that the Bank takes possession of the CollateralExcept as herein provided in this Section III ------------------- (I), the Bank may, but shall be under no obligation to, take such actions as it may deem appropriate to protect the Collateral by insurance or otherwise. In such event, the Bank's sole duty with respect to the Collateral shall be to use reasonable care in the custody, use, operation and physical preservation of the Collateral in its possession, and the Grantor Obligor shall, as an Obligation, reimburse the Bank for all reasonable costs and expenses, including but not limited to insurance costs, taxes and other charges, incurred in connection with the custody, use, operation, care or physical preservation of the Collateral. The In the event that Bank takes possession of the Collateral, Bank may, but shall be under no obligation to, take such actions as it may deem appropriate to protect Collateral by insurance or otherwise. Bank shall incur no liability to the Grantor Obligor for any act of government, act of God, robbery, vandalism, war, insurrection, riot, civil unrest, fire, flood or other destruction in whole or part, part or negligence or wrongful act of custodians or agents, or its failure to provide adequate protection or insurance for the of Collateral. The Bank shall have no obligation to take any action to preserve any rights in any of the Collateral against the other persons prior parties, and Grantor Obligor hereby agrees to take such action; Grantor . Obligor shall defend the Collateral against all such claims and demands of all persons, at all times, as are adverse to the Bank. The Bank shall have no obligation to realize upon any Collateral as authorized herein or by law. Obligor hereby waives the defense of unjustifiable impairment of Collateral.

BANK'S DUTY OF CARE. In the event that the Bank takes possession of the Collateral, the Bank may, but shall be under no obligation to, take such actions as it may deem appropriate to protect the Collateral by insurance or otherwise. In such event, the Bank's sole duty with respect to the Collateral shall be use reasonable care in the custody, use, operation and physical preservation of the Collateral in its possession, and the Grantor shall, as an Obligation, reimburse the Bank for all reasonable costs and expenses, including but not limited to insurance costs, taxes and other charges, incurred in connection with the custody, use, operation, care or physical preservation of the Collateral. The Bank shall incur no liability to the Grantor for any act of government, act of God, robbery, vandalism, war, insurrection, riot, civil unrest, fire, flood or other destruction in whole or part, negligence or wrongful act of custodians or agents, or its failure to provide adequate protection or insurance for the Collateral. The Bank shall have no obligation to take any action to preserve any rights in any of the Collateral against the other persons and Grantor hereby agrees to take such action; Grantor shall defend the Collateral against all such claims and demands of all persons, at all times, as are adverse to the Bank. The Bank shall have no obligation to realize upon any Collateral as authorized herein or by law.