Common use of Care of Collateral Clause in Contracts

Care of Collateral. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “events”), the Pledgee’s duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor reasonable written notice of the occurrence of any events, of which the Pledgee has actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor of which the Pledgor has received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor that any such requested action will not be taken and if the Pledgee makes such determination or if the Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, to ascertain the occurrence of, or to notify the Pledgor with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral in its possession.

Care of Collateral. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “events”), the Pledgee’s duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor reasonable written notice of the occurrence of any events, of which the Pledgee has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Pledgee of which the Pledgor has have received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor that any such requested action will not be taken and if the Pledgee makes such determination or if the Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral in its possession. Except for any claims, causes of action or demands arising out of the Pledgee’s failure to perform its agreements set forth in this Section, the Pledgor releases the Pledgee from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Pledgee with respect thereto, and the Pledgor hereby agrees to hold the Pledgee harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “"events”"), the Pledgee’s 's duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor Pledgors of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor Pledgors reasonable written notice of the occurrence of any events, of which the Pledgee has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor Pledgors agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Pledgee of which the Pledgor has Pledgors have received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor Pledgors may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor Pledgors that any such requested action will not be taken and if the Pledgee makes such determination or if the any Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor Pledgors with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral securities in its possession. Except for any claims, causes of action or demands arising out of the Pledgee's failure to perform its agreements set forth in this Section, the Pledgors release the Pledgee from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Pledgee with respect thereto, and the Pledgors hereby agree to hold the Pledgee harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee Operating Partnership and the Company shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “events”), the PledgeeOperating Partnership’s duty and the Company’s duties shall be fully satisfied if (i) the Pledgee Operating Partnership or the Company, as applicable, exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the each Pledgor of any events applicable to any Collateral which are registered and held in the name of the Pledgee Operating Partnership or the Company, or its nominee, (ii) the Pledgee Operating Partnership or the Company gives the each Pledgor reasonable written notice of the occurrence of any events, of which the Pledgee Operating Partnership or the Company, as applicable, has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee Operating Partnership or the Company, as applicable, or its nominee (the each such Pledgor agreeing to give the Pledgee Operating Partnership and the Company reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Operating Partnership or the Company of which the any such Pledgor has received knowledge), and (iii) (a) the Pledgee endeavors Operating Partnership and the Company endeavor to take such action with respect to any of the events as the any Pledgor may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken taken, or (b) if the Pledgee Operating Partnership and the Company reasonably determines determine that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the PledgeeOperating Partnership or the Company, the Pledgee Operating Partnership or the Company gives reasonable written notice to the applicable Pledgor that any such requested action will not be taken and if the Pledgee Operating Partnership or the Company makes such determination or if the applicable Pledgor fails to make such timely request, the Pledgee Operating Partnership or the Company takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee Operating Partnership and the Company shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the any Pledgor with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee Operating Partnership or the Company of any internal procedures with respect to any Collateral in its possession. Except for any claims, causes of action or demands arising out of the Operating Partnership or the Company’s failure to perform its agreements set forth in this section, each Pledgor releases the Operating Partnership and the Company from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Operating Partnership or the Company with respect thereto, and each Pledgor hereby agrees to hold the Operating Partnership and the Company harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “events”), the Pledgee’s duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor Pledgors of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor Pledgors reasonable written notice of the occurrence of any events, of which the Pledgee has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor Pledgors agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Pledgee of which the Pledgor has Pledgors have received knowledge), and (iii) (aiii)(a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor Pledgors may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken taken, or (b) if the Pledgee reasonably determines that the Pledgors’ requested action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor Pledgors that any such requested action will not be taken and taken; provided that if the Pledgee makes such determination or if the Pledgor fails Pledgors fail to make such timely requestrequest after Pledgee’s notice under clause (ii) or to timely modify their request after Pledgee’s notice under clause (iii)(b), the Pledgee takes shall then take such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor Pledgors with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral securities in its possession. Except for any claims, causes of action or demands arising out of the Pledgee’s failure to perform its agreements set forth in this Section, the Pledgors release the Pledgee from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Pledgee with respect thereto, and the Pledgors hereby agree to hold the Pledgee harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee Escrow Agent shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “events”), the PledgeeEscrow Agent’s duty shall be fully satisfied if (i) the Pledgee Escrow Agent exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor and the Pledgee of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee Escrow Agent gives the Pledgor reasonable written notice of the occurrence of any events, of which the Pledgee Escrow Agent has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Escrow Agent of which the Pledgor has have received knowledge), and (iii) (a) the Pledgee Escrow Agent endeavors to take such action with respect to any of the events as the Pledgor may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee Escrow Agent reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Escrow Agent or the Pledgee, the Pledgee Escrow Agent gives reasonable written notice to the Pledgor and the Pledgee that any such requested action will not be taken and if the Pledgee Escrow Agent makes such determination or if the Pledgor fails to make such timely request, the Pledgee Escrow Agent takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee Escrow Agent shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor or the Pledgee with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee Escrow Agent of any internal procedures with respect to any Collateral in its possession. Except for any claims, causes of action or demands arising out of the Escrow Agent’s failure to perform its agreements set forth in this Section, the Pledgor releases the Pledgee and the Escrow Agent from and against any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Escrow Agent or the Pledgee with respect thereto, and the Pledgor hereby agrees to hold the Pledgee and the Escrow Agent harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee shall have no duty as to the collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “"events”"), the Pledgee’s 's duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor Pledgors of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor Pledgors reasonable written notice of the occurrence of any events, of which the Pledgee has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor Pledgors hereby agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Pledgee of which the Pledgor has Pledgors have received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor Pledgors may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor Pledgors that any such requested action will not be taken and if the Pledgee makes such determination or if the any Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor Pledgors with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral securities in its possession. Except for any claims, causes of action or demands arising out of the Pledgee's failure to perform its agreements set forth in this Section, the Pledgors release the Pledgee from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Pledgee with respect thereto, and the Pledgors hereby agree to hold the Pledgee harmless from and with respect to any and all such claims, causes of action and demands.

Care of Collateral. The Pledgee shall have no duty as (a) Mortgagor will keep the Improvements in good condition and repair ordinary wear and tear excepted, will not commit or suffer any waste and will not do or suffer to be done anything which would reasonably be expected to increase the collection risk of fire or protection of other hazard to the Collateral or any income thereon other part thereof or as which would or could result in the cancellation of any insurance policy carried with respect to the preservation Collateral. (b) Except in connection with the repair or replacement of the Facility after damage thereto or destruction or condemnation thereof, Mortgagor will not remove, demolish or alter the structural character of any rights pertaining theretoImprovements in any material respect without the written consent of Lender, beyond the safe custody of any thereof actually in its possession. With respect to any maturitieswhich such consent shall not be unreasonably withheld, calls, conversions, exchanges, redemptions, offers, tenders nor will Mortgagor make or similar matters relating to any permit use of the Collateral for any purpose other than that for which the same are now used. (herein called “events”)c) Mortgagor will maintain the insurance relating to Mortgagor or the Collateral as required by the Loan Agreement. If the Collateral or any part thereof is damaged by fire or any other cause, the Pledgee’s duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to Mortgagor will give reasonable immediate written notice thereof to Lender. (d) Lender or its representative is hereby authorized to enter upon and inspect the Pledgor Collateral during normal business hours upon reasonable advance notice to Mortgagor. (e) Mortgagor will promptly comply with all present and future laws, ordinances, rules and regulations of any events applicable governmental authority affecting the Collateral or any part thereof; provided, however, Mortgagor shall have the right to any contest the application of such laws, ordinances, rules and regulations to Mortgagor provided such contest does not impair the validity of Lender’s lien on the Collateral which are registered and held in the name or present a risk of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor reasonable written notice of the occurrence of any events, of which the Pledgee has actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor of which the Pledgor has received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value forfeiture of the Collateral, the collection . (f) If all or any part of the Secured ObligationsCollateral shall be damaged by fire or other casualty, or otherwise prejudice Mortgagor will promptly restore the interests Collateral to the equivalent of its original condition in accordance with Section 4.5 of the PledgeeLoan Agreement (or, if Mortgagor chooses not to rebuild the Pledgee gives reasonable written notice Facility or is unable to satisfy the conditions of Section 4.5 of the Loan Agreement, Mortgagor shall pay to Lender in full an amount sufficient to obtain a release of the Property and Improvements pursuant to the Pledgor that any such requested action will not Loan Agreement); and if a part of the Collateral shall be taken and if or damaged through condemnation, Mortgagor will promptly restore, repair or alter the Pledgee makes such determination or if the Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, to ascertain the occurrence of, or to notify the Pledgor with respect to, any events and shall not be deemed to assume any such further obligation as a result remaining portions of the establishment by the Pledgee of any internal procedures with respect to any Collateral in its possessiona manner satisfactory to Lender.

Care of Collateral. The Pledgee shall have no duty as to the ------------------ collection or protection of the Collateral or any income thereon or as to the preservation of any rights pertaining thereto, beyond the safe custody of any thereof actually in its possession. With respect to any maturities, calls, conversions, exchanges, redemptions, offers, tenders or similar matters relating to any of the Collateral (herein called “"events”"), the Pledgee’s 's duty shall be fully satisfied if (i) the Pledgee exercises reasonable care to ascertain the occurrence and to give reasonable written notice to the Pledgor Pledgors of any events applicable to any Collateral which are registered and held in the name of the Pledgee or its nominee, (ii) the Pledgee gives the Pledgor Pledgors reasonable written notice of the occurrence of any events, of which the Pledgee has received actual knowledge, as to any securities which are in bearer form or are not registered and held in the name of the Pledgee or its nominee (the Pledgor Pledgors agreeing to give the Pledgee reasonable written notice of the occurrence of any events applicable to any securities Collateral in the possession of the Pledgor Pledgee of which the Pledgor has Pledgors have received knowledge), and (iii) (a) the Pledgee endeavors to take such action with respect to any of the events as the Pledgor Pledgors may reasonably and specifically request in writing in sufficient time for such action to be evaluated and taken or (b) if the Pledgee reasonably determines that the action requested might adversely affect the value of the Collateral, the collection of the Secured Obligations, or otherwise prejudice the interests of the Pledgee, the Pledgee gives reasonable written notice to the Pledgor Pledgors that any such requested action will not be taken and if the Pledgee makes such determination or if the any Pledgor fails to make such timely request, the Pledgee takes such other action as it deems advisable in the circumstances. Except as hereinabove specifically set forth, the Pledgee shall have no further obligation, under this Agreement only, obligation to ascertain the occurrence of, or to notify the Pledgor Pledgors with respect to, any events and shall not be deemed to assume any such further obligation as a result of the establishment by the Pledgee of any internal procedures with respect to any Collateral securities in its possession. Except for any claims, causes of action or demands arising out of the Pledgee's failure to perform its agreements set forth in this Section, the Pledgors release the Pledgee from any claims, causes of action and demands at any time arising out of or with respect to this Agreement, the Collateral and/or any actions taken or omitted to be taken by the Pledgee with respect thereto, and the Pledgors hereby agree to hold the Pledgee harmless from and with respect to any and all such claims, causes of action and demands.