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

BANK'S DUTY OF CARE. Bank shall have no duty of care with respect to the Collateral except that Bank shall exercise reasonable care with respect to the Collateral in Bank’s custody. Bank shall be deemed to have exercised reasonable care if (i) such property is accorded treatment substantially equal to that which Bank accords its own property or (ii) Bank takes such action with respect to the Collateral as Borrowers shall reasonably request in writing. Bank will not be deemed to have, and nothing in this Section 3.5 may be construed to deem that Bank has, failed to exercise reasonable care in the custody or preservation of Collateral in its possession merely because either (a) Bank failed to comply with any request of Borrowers or (b) Bank failed to take steps to preserve rights against any Persons in such property. Each Borrower agrees that Bank has no obligation to take steps to preserve rights against any prior parties.

BANK'S DUTY OF CARE. Bank shall have no duty of care with respect to the Collateral except that Bank shall exercise reasonable care with respect to the Collateral in Bank’s custodycustody and the accounting for money constituting Collateral proceeds actually received by it hereunder. Bank shall be deemed to have exercised reasonable care if (ia) such property is accorded treatment substantially equal to that which Bank accords its own property property, or (iib) Bank takes such action with respect to the Collateral as Borrowers Borrower shall reasonably request in writing. Bank will not be deemed to have, and nothing in this Section 3.5 may be construed to deem that Bank has, failed to exercise reasonable care in the custody or preservation of Collateral in its possession merely because either (ax) Bank failed to comply with any request of Borrowers Borrower or (by) Bank failed to take steps to preserve rights against any Persons in such property. Each Borrower agrees that Bank has no obligation to take steps to preserve rights against any prior parties.

BANK'S DUTY OF CARE. Bank shall have no duty of care with respect to the Collateral except that Bank shall exercise reasonable care with respect to the Collateral in Bank’s custodycustody and the accounting for money constituting Collateral proceeds actually received by it hereunder. Bank shall be deemed to have exercised reasonable care if (ia) such property is accorded treatment substantially equal to that which Bank accords its own property property, or (iib) Bank takes such action with respect to the Collateral as Borrowers Debtor shall reasonably request in writing. Bank will not be deemed to have, and nothing in this Section 3.5 may be construed to deem that Bank has, failed to exercise reasonable care in the custody or preservation of Collateral in its possession merely because either (ax) Bank failed to comply with any request of Borrowers Debtor or (by) Bank failed to take steps to preserve rights against any Persons in such property. Each Borrower Debtor agrees that Bank has no obligation to take steps to preserve rights against any prior parties.