Common use of Disclaimer of Certain Duties Clause in Contracts

Disclaimer of Certain Duties. (a) The powers conferred upon Secured Party by this Security Agreement are to protect its interest in the Collateral and shall not impose any duty upon Secured Party or the Lender Group to exercise any such powers. Pledgor hereby agrees that Secured Party shall not be liable for, nor shall the indebtedness evidenced by the Obligations be diminished by, Secured Party's delay or failure to collect upon, foreclose, sell, take possession of or otherwise obtain value for the Collateral (other than for acts or omissions that constitute gross negligence or willful misconduct).

Disclaimer of Certain Duties. (a) The powers conferred upon Secured Party by this Security Agreement are to protect its interest in the Collateral and shall not impose any duty upon Secured Party or the any Lender Group to exercise any such powers. Pledgor hereby agrees that Secured Party shall not be liable for, nor shall the indebtedness evidenced by the Obligations be diminished by, Secured Party's delay or failure to collect upon, foreclose, sell, take possession of or otherwise obtain value for the Collateral (other than for acts or omissions that constitute gross negligence or willful wilful misconduct).

Disclaimer of Certain Duties. (a) The powers conferred upon Secured Party by this Security Agreement are to protect its Secured Party's interest in the Collateral and shall not impose any duty upon Secured Party or the Lender Group to exercise any such powers. Pledgor The Debtor hereby agrees that Secured Party shall not be liable for, nor shall the indebtedness evidenced by the Obligations be diminished by, Secured Party's delay or failure to collect upon, foreclose, sell, take possession of or otherwise obtain value for the Collateral (other than Collateral, except for acts loss or omissions that constitute damage resulting from the gross negligence or willful misconduct)misconduct of Secured Party.