Collateral Agent’s Liability for Collateral. So long as the Collateral Agent complies with Requirements of Law regarding the safekeeping of the Collateral in the possession or under the control of the Collateral Agent, the Collateral Agent shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; or (c) any act or default of any other Person. In no event shall the Collateral Agent or any Lender have any liability for any diminution in the value of the Collateral for any reason. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 12 contracts
Samples: Loan Agreement, Loan Agreement (Coherus BioSciences, Inc.), Loan Agreement (INSMED Inc)
Collateral Agent’s Liability for Collateral. So long as the Collateral Agent complies with Requirements of Law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of the Collateral Agent, the Collateral Agent shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; or (c) any act or default of any other Person. In no event shall the Collateral Agent or any Lender have any liability for any diminution in the value of the Collateral for any reason. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 5 contracts
Samples: Sixteenth Amendment (LumiraDx LTD), Fifteenth Amendment (LumiraDx LTD), Twelfth Amendment and Waiver (LumiraDx LTD)
Collateral Agent’s Liability for Collateral. So long as the Collateral Agent complies with Requirements of Law reasonable secured lender practices regarding the safekeeping of the Collateral in the possession or under the control of the Collateral AgentAgent and applicable law, the Collateral Agent 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 (cd) any act or default of any carrier, warehouseman, bailee, or other Person. In no event shall the Collateral Agent or any Lender have any liability for any diminution in the value of the Collateral for any reason. Borrower Grantor bears all risk of loss, damage or destruction of the Collateral.
Appears in 2 contracts
Samples: Security Agreement (Ault Alliance, Inc.), Security Agreement (Ault Alliance, Inc.)
Collateral Agent’s Liability for Collateral. So long as the Collateral Agent complies with Requirements of Law regarding the safekeeping of the Collateral in the possession or under the control of the Collateral Agent, the Collateral Agent shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; or (c) any act or default of any other Person. In no event shall the Collateral Agent agent or any Lender have any liability for any diminution in the value of the Collateral for any reason. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract
Samples: Loan Agreement (TESARO, Inc.)
Collateral Agent’s Liability for Collateral. So long as the Collateral Agent complies with Requirements of applicable Law regarding the safekeeping of the Collateral in the possession or under the control of the Collateral Agent, the Collateral Agent shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; or (c) any act or default of any other Person. In no event shall the Collateral Agent or any Lender Purchaser have any liability for any diminution in the value of the Collateral for any reason. Borrower The Issuer bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract
