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

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 4 contracts

Samples: Mezzanine Loan and Security Agreement (Quantenna Communications Inc), Loan and Security Agreement (Quantenna Communications Inc), Mezzanine Loan and Security Agreement (Quantenna Communications Inc)

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Bank’s Liability for Collateral. So long as Bank complies with its obligations under the Code and reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveotherwise provided under the Code, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (RingCentral Inc), Loan and Security Agreement (RingCentral Inc)

Bank’s Liability for Collateral. So long as the Bank complies with reasonable banking practices regarding the safekeeping of Collateral and Section 9-207 of the Code regarding Code, to the safekeeping of extent applicable, 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Personperson. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Constant Contact, Inc.), Loan and Security Agreement (Constant Contact, Inc.)

Bank’s Liability for Collateral. So Except with respect to certificated securities, so long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Safeguard Scientifics Inc), Loan and Security Agreement (Safeguard Scientifics Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable to Borrower or any Secured Swap Provider or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the 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 as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Jive Software, Inc.)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and applicable law (including, without limitation, Section 9-207 of the Code Code), this Agreement 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Yodle Inc)

Bank’s Liability for Collateral. So long as If Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of the Collateral in the possession or under the control of BankCode, Bank shall it is not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Personperson. Except as set forth aboveto the extent the Bank may be liable for any damages caused by its failure to comply with reasonable banking practices and the Code, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan Agreement (Ats Medical Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 applicable provisions of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveotherwise provided by the Code, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Dataworks Inc)

Bank’s Liability for Collateral. So long as to the extent that Bank complies with reasonable banking practices and Section 9-207 acts in accordance with Requirements of the Code Law 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (XOMA Corp)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Outset Medical, Inc.)

Bank’s Liability for Collateral. So long as the Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of collateral, (i) the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible responsible, except as a result of its gross negligence or willful misconduct, for: : (a) the safekeeping of the Collateral; (b) any loss or damage to the 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 as set forth above, person; and (ii) Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Momenta Pharmaceuticals Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except So long as set forth aboveBank complies with reasonable banking practices, Borrower bears Co-Borrowers bear all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Leaf Group Ltd.)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 is not in violation of the Code any applicable law 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Evergreen Solar Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 the applicable provisions of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveotherwise provided by the Code, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Dataworks Inc)

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Bank’s Liability for Collateral. So long as the Bank complies with reasonable banking practices and Section 9-207 of the Code all applicable laws and regulations regarding the safekeeping of collateral, 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveSubject to the foregoing, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan Agreement (Applix Inc /Ma/)

Bank’s Liability for Collateral. So In the absence of gross negligence or willful misconduct by Bank, so long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Frankly Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of the Collateral in the possession or under the control of Bank, (a) Bank shall not be liable or responsible for: for (ai) the safekeeping of the Collateral; (bii) any loss or damage to the Collateral; (ciii) any diminution in the value of the Collateral; or (div) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Person and (b) Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Rosetta Stone Inc)

Bank’s Liability for Collateral. So long as Bank complies with commercially reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveSubject to the foregoing, Borrower bears Guarantor shall bear all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Unconditional Secured Guaranty (Adicet Bio, Inc.)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveSubject to the foregoing, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Limelight Networks, Inc.)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of the Collateral in the possession or under the control of Bank, and except for 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth above, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Eargo, Inc.)

Bank’s Liability for Collateral. So long as the Bank complies with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of collateral, 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Personperson. Except as set forth aboveAbsent Bank's gross negligence or wilful misconduct, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Export Import Bank Loan and Security Agreement (Ibasis Inc)

Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices and Section 9-207 of the Code 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; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Except as set forth aboveprovided in the preceding sentence, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Intersect ENT, Inc.)

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