Common use of Care of Posted Collateral Clause in Contracts

Care of Posted Collateral. Each Party shall exercise reasonable care to assure the safe custody of all Posted Collateral to the extent required by applicable Law, and in any event a Party 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, each Party will have no duty with respect to the Posted Collateral, including without limitation, any duty to enforce or preserve any rights thereto.

Care of Posted Collateral. Each The Secured Party shall will exercise reasonable care to assure the safe custody of all Posted Collateral to the extent required by applicable Law, and in any event a Party 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 propertylaw. Except as specified in the preceding sentence, each the Secured Party will have no duty with respect to the Posted Collateral, including including, without limitation, any duty to collect any Distributions, or enforce or preserve any rights theretopertaining to the Posted Collateral.