Collateral Duties. Lender shall have no custodial or ministerial duties to perform with respect to Collateral pledged except as set forth herein; and by way of explanation and not by way of limitation, Lender shall incur no liability for any of the following: (i) loss or depreciation of Collateral (unless caused by its willful misconduct or gross negligence).
Appears in 2 contracts
Samples: Security Agreement (Juniper Partners Acquisition Corp.), Modification and Assignment of Promissory Notes (Juniper Partners Acquisition Corp.)
Collateral Duties. Lender shall have no custodial or ministerial duties to perform with respect to Collateral pledged except as set forth herein; , and by way of explanation and not by way of limitation, Lender shall incur no liability for any of the following: (i) loss or depreciation of Collateral (unless caused by its willful misconduct or gross negligence), (ii) failure to present any paper for payment or protest, to protest or give notice of nonpayment, or any other notice with respect to any paper or Collateral.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Elandia International Inc.), Pledge and Security Agreement (Elandia International Inc.)
Collateral Duties. Lender shall have no custodial or ministerial duties to perform with respect to Collateral pledged except as set forth herein; and by way of explanation and not by way of limitation, Lender shall incur no liability for any of the following: (i) loss or depreciation of Collateral (unless caused by its willful misconduct or gross negligence).
Appears in 1 contract
