Condition of Collateral. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if it takes such action for that purpose as Debtor requests in writing, but failure of Secured Party to comply with any such request shall not of itself be deemed a failure to exercise reasonable care. Failure of Secured Party to preserve or protect any rights with respect to such Collateral against any prior parties shall not be deemed a failure to exercise reasonable care in the custody and preservation of such Collateral.
Appears in 5 contracts
Samples: Security Agreement (Diversicare Healthcare Services, Inc.), Security Agreement (Adcare Health Systems Inc), Security Agreement (Adcare Health Systems Inc)
