Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. Provided that Secured Party complies with its obligations, if any, of section 9-207 of the CUCC, Secured Party shall not otherwise be liable or responsible in any way or manner for (a) the safekeeping of the Collateral; (b) any loss or damage thereto occurring or arising in any manner or fashion or from any cause; (c) any diminution in the value thereof; or (d) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person whomsoever.
Appears in 4 contracts
Samples: Security Agreement (Tag It Pacific Inc), Security Agreement (Tag It Pacific Inc), Security Agreement (Tag It Pacific Inc)
