Common use of Care of Collateral Clause in Contracts

Care of Collateral. Debtor shall have all risk of loss of the Collateral. Secured Party shall have no liability or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against account debtors or other parties with prior interests in the Collateral. Secured Party shall deemed to have exercised reasonable care in safe keeping any Collateral in its possession if it accords such Collateral treatment substantially equal to the safekeeping that it accords its own property of like kind. If Secured Party actually receives any notices requiring action with respect to Collateral in Secured Party’s possession, Secured Party shall take reasonable steps to forward such notices to Debtor. Debtor is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls and conversions of the Collateral; Secured Party’s sole responsibility with respect thereto is to take such action as is reasonably requested by Debtor in writing; provided, however, Secured Party is not responsible to take any action that, in Secured Party’s sole judgment, would adversely affect the value of the Collateral as security for the Obligations. While Secured Party is not required to take any actions with respect to the Collateral, if action is needed, in Secured Party’s sole discretion, to preserve and maintain the Collateral, Debtor authorizes Secured Party to take such actions, but Secured Party is not obligated to do so.

Care of Collateral. Each Debtor shall have all risk of loss of the Collateral. The Secured Party shall have no liability or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against account debtors or other parties with prior interests in the Collateral. The Secured Party shall be deemed to have exercised reasonable care in safe keeping any the custody and preservation of the Collateral in its possession if it accords such Collateral treatment substantially equal to the safekeeping that it accords its own property of like kind. If the Secured Party actually receives any notices requiring action with respect to Collateral in the Secured Party’s possession, the Secured Party shall take reasonable steps to forward such notices to Debtorthe Debtors. Each Debtor is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls and conversions of the Collateral; the Secured Party’s sole responsibility with respect thereto is to take such action as is reasonably requested by such Debtor in writing; provided, however, the Secured Party is not responsible to take any action that, in the Secured Party’s sole judgment, would adversely affect the value of the Collateral as security for the Obligations. While the Secured Party is not required to take any actions with respect to the Collateral, if action is needed, in the Secured Party’s sole discretion, to preserve and maintain the Collateral, each Debtor authorizes the Secured Party to take such actions, but the Secured Party is not obligated to do so.

Care of Collateral. Debtor Except for Collateral in control or possession of the Secured Party, Grantor shall have all risk of loss of the Collateral. Except for Collateral in control or possession of the Secured Party, the Secured Party shall have no liability or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against account debtors or other parties Persons with prior interests in the Collateral. Secured Party shall deemed to have exercised reasonable care in safe keeping any Collateral in its possession if it accords such Collateral treatment substantially equal to the safekeeping that it accords its own property of like kind. If Secured Party actually receives any notices requiring action with respect to Collateral in Secured Party’s possession, Secured Party shall take reasonable steps to forward such notices to Debtorthe Grantor. Debtor The Grantor is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls and conversions of the Collateral; . Secured Party’s sole reasonable responsibility with respect thereto is to take such action as is reasonably requested by Debtor Grantor in writing; provided, however, Secured Party is not responsible to take any action that, in Secured Party’s sole reasonable judgment, would adversely affect the value of the Collateral as security for the ObligationsObligations adversely. While Secured Party is not required to take any actions with respect to the Collateralcertain actions, if action is needed, in Secured Party’s sole reasonable discretion, to preserve and maintain the Collateral, Debtor Grantor authorizes Secured Party to take such actions, but Secured Party is not obligated to do so.

Care of Collateral. The Debtor shall have all risk of loss of the Collateral. The Secured Party shall have no liability or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against account debtors or other parties with prior interests in the Collateral. The Secured Party shall deemed to have exercised reasonable care in safe keeping any the custody and preservation of the Collateral in its possession if it accords such Collateral treatment substantially equal to the safekeeping that it accords its own property of like kind. If the Secured Party actually receives any notices requiring action with respect to Collateral in the Secured Party’s possession, the Secured Party shall take reasonable steps to forward such notices to the Debtor. The Debtor is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls and conversions of the Collateral; the Secured Party’s sole responsibility with respect thereto is to take such action as is reasonably requested by the Debtor in writing; provided, however, the Secured Party is not responsible to take any action that, in the Secured Party’s sole judgment, would adversely affect the value of the Collateral as security for the Obligations. While the Secured Party is not required to take any actions with respect to the Collateral, if action is needed, in the Secured Party’s sole discretion, to preserve and maintain the Collateral, the Debtor authorizes the Secured Party to take such actions, but the Secured Party is not obligated to do so.

Care of Collateral. Debtor Except for Collateral in control or possession of the Secured Party, the Company shall have all risk of loss of the Collateral. Except for Collateral in control or possession of the Secured Party, the Secured Party shall have no liability or duty, either before or after the occurrence of an Event of Default, on account of loss of or damage to, to collect or enforce any of its rights against, the Collateral, to collect any income accruing on the Collateral, or to preserve rights against account debtors or other parties Persons with prior interests in the Collateral. Secured Party shall deemed to have exercised reasonable care in safe keeping any Collateral in its possession if it accords such Collateral treatment substantially equal to the safekeeping that it accords its own property of like kind. If Secured Party actually receives any notices requiring action with respect to Collateral in Secured Party’s possession, Secured Party shall take reasonable steps to forward such notices to Debtorthe Company. Debtor The Company is responsible for responding to notices concerning the Collateral, voting the Collateral, and exercising rights and options, calls and conversions of the Collateral; . Secured Party’s sole reasonable responsibility with respect thereto is to take such action as is reasonably requested by Debtor Company in writing; provided, however, Secured Party is not responsible to take any action that, in Secured Party’s sole reasonable judgment, would adversely affect the value of the Collateral as security for the ObligationsObligations adversely. While Secured Party is not required to take any actions with respect to the Collateralcertain actions, if action is needed, in Secured Party’s sole reasonable discretion, to preserve and maintain the Collateral, Debtor Company authorizes Secured Party to take such actions, but Secured Party is not obligated to do so.