Disclaimer of Certain Duties. (a) The powers conferred upon Secured Party by this Agreement are to protect its interest in the Collateral and shall not impose any duty upon Secured Party to exercise any such powers. 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. Nothing herein shall affect any obligation of Secured Party to the Holders under the New Indenture or under applicable law.
Appears in 2 contracts
Samples: Security Agreement (Shreveport Capital Corp), Security Agreement (Shreveport Capital Corp)
Disclaimer of Certain Duties. (a) The powers conferred upon Secured Party by this Agreement are to protect its interest in the Collateral and shall not impose any duty upon Secured Party to exercise any such powers. 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 ’s delay or failure to collect upon, foreclose, sell, take possession of or otherwise obtain value for the Collateral. Nothing herein shall affect any obligation of Secured Party to the Holders under the New Indenture or under applicable law.
Appears in 2 contracts
Samples: Security Agreement (NGA Holdco, LLC), Security Agreement (NGA Holdco, LLC)
