Custody and Preservation of Collateral. TCFC shall be deemed to have exercised reasonable care in the custody and preservation of Collateral in its possession if it takes such action for that purpose as Dealer shall request in writing, but failure by TCFC to comply with any such request shall not of itself be deemed a failure to exercise reasonable care, and no failure by TCFC to preserve or protect any right with respect to such Collateral against prior parties, or to do any act with respect to the preservation of such Collateral not requested by Dealer, shall of itself be deemed a failure to exercise reasonable care in the custody or preservation of such Collateral.
Appears in 2 contracts
Samples: Accounts Receivable and Inventory Financing Agreement (Authentidate Holding Corp), Expanded Schedule Rider (American Marine Recreation Inc)
Custody and Preservation of Collateral. TCFC shall be deemed to have exercised reasonable care in the custody and preservation of Collateral in its possession if it takes such action for that purpose as Dealer Dealers shall request in writing, but failure by TCFC to comply with any such request shall not of itself be deemed a failure to exercise reasonable care, and no failure by TCFC to preserve or protect any right with respect to such Collateral against prior parties, or to do any act with respect to the preservation of such Collateral not requested by DealerDealers, shall of itself be deemed a failure to exercise reasonable care in the custody or preservation of such Collateral.
Appears in 2 contracts
Samples: Accounts Receivable and Inventory Financing Agreement (Pacific Magtron International Corp), Accounts Receivable and Inventory Financing Agreement (Marinemax Inc)
