Collateral Trustee’s Liability for Collateral. So long as Collateral Trustee complies with reasonable secured lender practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Trustee, Collateral Trustee 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 (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers bear all risk of loss, damage or destruction of the Collateral.
Appears in 6 contracts
Samples: Loan and Security Agreement (Alto Neuroscience, Inc.), Loan and Security Agreement (Alto Neuroscience, Inc.), Conformed Loan and Security Agreement (Metacrine, Inc.)
Collateral Trustee’s Liability for Collateral. So long as Collateral Trustee complies with reasonable secured lender practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Trustee, Collateral Trustee 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 (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers Loan Parties bear all risk of loss, damage or destruction of the Collateral.
Appears in 4 contracts
Samples: Loan and Security Agreement (Oncorus, Inc.), Guaranty, and Security Agreement (ASLAN Pharmaceuticals LTD), Loan and Security Agreement (Corbus Pharmaceuticals Holdings, Inc.)
Collateral Trustee’s Liability for Collateral. So long as Collateral Trustee complies with applicable law and reasonable secured lender practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Trustee, Collateral Trustee 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 (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers bear all risk of loss, damage or destruction of the Collateral.
Appears in 2 contracts
Samples: Loan and Security Agreement (Surface Oncology, Inc.), Loan and Security Agreement (Surface Oncology, Inc.)
Collateral Trustee’s Liability for Collateral. So long as Collateral Trustee complies with reasonable secured lender practices acts in good faith regarding the safekeeping of the Collateral in the possession or under the control of Collateral Trustee, Collateral Trustee 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 (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers Obligors bear all risk of loss, damage or destruction of the Collateral.
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Collateral Trustee’s Liability for Collateral. So long as Collateral Trustee materially complies with applicable law and complies with reasonable secured lender practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Trustee, Collateral Trustee 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 (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrowers Loan Parties bear all risk of loss, damage or destruction of the Collateral.
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