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 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 Dealers, 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)
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 Dealers 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 DealersDealer, 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), American Marine Recreation Inc
