Care of Performance Assurance. Without limiting Buyer’s rights under paragraph (c) below, Buyer will exercise reasonable care to assure the safe custody of all Performance Assurance to the extent required by applicable law, and in any event Buyer will be deemed to have exercised reasonable care if it exercises at least the same degree of care as it would exercise with respect to its own property. Except as specified in the preceding sentence, Buyer will have no duty with respect to Performance Assurance.
Care of Performance Assurance. Except as otherwise provided in Section 5.4(a)(i) and beyond the exercise of reasonable care in the custody thereof, Buyer shall have no duty as to any Performance Assurance in its possession or control or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. Buyer shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the Performance Assurance, or for any diminution in the value thereof, except to the extent such loss or damage is the result of Buyer’s willful misconduct or gross negligence. Buyer shall at all times retain possession or control of any Performance Assurance Transferred to it.
Care of Performance Assurance. Except as otherwise provided in Section 5.4(a)(i) and beyond the exercise of reasonable care in the custody thereof, Buyer shall have no duty as to any Performance Assurance in its possession or control or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. Buyer shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the Performance Assurance, or for any diminution in the value thereof, except to the extent such loss or damage is the result of Buyer’s willful misconduct or gross negligence. Buyer shall at all times retain possession or control of any Performance Assurance Transferred to it. Exercise of Rights against Performance Assurance If an Event of Default with respect to Seller has occurred and is continuing or an Early Termination Date has occurred or been designated as a result of an Event of Default with respect to Seller, Buyer may exercise any one or more of the rights and remedies provided under this Agreement, or as otherwise available under Applicable Law. Without limiting the foregoing, if at any time an Event of Default with respect to Seller has occurred and is continuing, or an Early Termination Date occurs or is deemed to occur as a result of an Event of Default with respect to Seller, then Buyer may, in its sole discretion, exercise any one or more of the following rights and remedies: All rights and remedies available to a Buyer under the Uniform Commercial Code and any other applicable jurisdiction and other Applicable Laws with respect to the Performance Assurance held by or for the benefit of Buyer; The right to set off any Performance Assurance held by or for the benefit of Buyer against and in satisfaction of any amount payable by Seller in respect of any of its obligations; and The right to draw on any outstanding Letter of Credit issued for its benefit. Buyer shall be under no obligation to prioritize the order with respect to which it exercises any one or more rights and remedies available hereunder. Seller shall in all events remain liable to Buyer for any amount payable by Seller in respect of any of its obligations remaining unpaid after any such liquidation, application and set off. Financial Information ...
Care of Performance Assurance. Beyond the exercise of reasonable care in the custody thereof, Secured Group shall have no duty as to any Performance Assurance in its possession or control or in the possession or control of any Custodian or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. Secured Group shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession, and/or in the possession of its Custodian, if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the Performance Assurance, or for any diminution in the value thereof, by reason of the act or omission of any Custodian selected by Secured Group in good faith except to the extent such loss or damage is the result of such Custodian's willful misconduct or negligence. Unless held by a Custodian and subject to Paragraph 6(a)(iv)(A), Secured Group shall at all times retain possession or control of any Performance Assurance delivered to it. The holding of Performance Assurance by a Custodian for the benefit of Secured Group shall be deemed to be the holding and possession of such Performance Assurance by Secured Group for the purpose of perfecting the security interest in the Performance Assurance. Except as otherwise provided in paragraph 6(a)(iv), nothing in this Collateral Annex shall be construed as requiring Secured Group to select a Custodian for the keeping of Performance Assurance for its benefit.
Care of Performance Assurance. Beyond the exercise of reasonable care in the custody thereof, Secured Party shall have no duty as to any Performance Assurance in its possession or control or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property. Except as otherwise authorized under Paragraph 6(a)(i)(ii) or (d), the Secured Party shall retain possession or control of any Performance Assurance delivered to it; provided, however that the Secured Party may, invest, commingle or otherwise use in its business the Performance Assurance it holds.
Care of Performance Assurance. Except as otherwise provided in Section 2.6(a)(iv) and beyond the exercise of reasonable care in the custody thereof, the Secured Party shall have no duty as to any Performance Assurance in its possession or control or in the possession or control of any Custodian or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession, and/or in the possession of its agent for safekeeping, if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the Performance Assurance, or for any diminution in the value thereof, by reason of the act or omission of any Custodian selected by the Secured Party in good faith except to the extent such loss or damage is the result of such agent's willful misconduct or negligence. Unless held by a Custodian, the Secured Party shall at all times retain possession or control of any Performance Assurance Transferred to it. The holding of Performance Gas Sale and Purchase Contract (December 1, 2004) Assurance by a Custodian for the benefit of the Secured Party shall be deemed to be the holding and possession of such Performance Assurance by the Secured Party for the purpose of perfecting the security interest in the Performance Assurance. Except as otherwise provided in Section 2.6(a)(iii), nothing in this CSA shall be construed as requiring the Secured Party to select a Custodian for the keeping of Performance Assurance for its benefit.
Care of Performance Assurance. Except for duties to comply with all requirements concerning Performance Assurance stated herein, the Beneficiary Party shall have no duty as to any Performance Assurance in its possession or control or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. The Beneficiary Party, shall at all times retain possession or control of Performance Assurance delivered to it. To the extent if any that this Section 6(d) is inconsistent with UCC § 9-207, this Section 6(d) shall control.
Care of Performance Assurance. Except as otherwise provided in Section 5.4(a)(i) and in the exercise of reasonable care in the custody thereof, SDG&E shall have no duty as to any Performance Assurance in its possession or control or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. SDG&E shall be deemed to have exercised reasonable care in the custody and preservation of the Performance Assurance in its possession if the Performance Assurance is accorded treatment substantially equal to that which it accords its own property, and shall not be liable or responsible for any loss or damage to any of the Performance Assurance, or for any diminution in the value thereof, except to the extent such loss or damage is the result of SDG&E’s willful misconduct or gross negligence. SDG&E shall at all times retain possession or control of any Performance Assurance Transferred to it.
