Common use of Bank’s Liability for Collateral Clause in Contracts

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct); (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.

Bank’s Liability for Collateral. So long as Bank complies with applicable law any Code provisions and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, except to the extent any of the following are caused by Bank’s gross negligence or willful misconduct, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other PersonPerson other than foregoing such losses resulting from Bank’s bad faith, gross negligence or willful misconduct. Borrower bears all risk of loss, damage or destruction of the Collateral, other than those losses resulting from Bank’s bad faith, gross negligence or willful misconduct.

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices and applicable laws with respect to secured parties regarding the safekeeping of the Collateral in the possession or under the control of Bank, and absent gross negligence or willful misconduct by Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person, other than any loss, damage or diminution in value due to the gross negligence or willful misconduct of the Bank. Borrower bears all risk of loss, damage or destruction of the CollateralCollateral other than as set forth in the preceding sentence.

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person, in each case other than due to the gross negligence of or willful misconduct by Bank. Borrower bears all risk of loss, damage or destruction of the Collateral.

Bank’s Liability for Collateral. So long as Bank complies with applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral (except for any loss or damage caused by Bank’s gross negligence or willful misconduct)Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person, except in each case as a result of Bank’s gross negligence or willful misconduct. As between Bank and Borrower, Borrower bears all risk of loss, damage or destruction of the Collateral, except as a result of Bank’s gross negligence or willful misconduct.