Duties of Secured Party. The powers conferred on Secured Party, for ----------------------- the benefit of the Lender Group, hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9207 of the UCC, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.
Appears in 2 contracts
Samples: Parent Stock Pledge Agreement (Gart Sports Co), Company Stock Pledge Agreement (Gart Sports Co)
Duties of Secured Party. The powers conferred on Secured Party, for ----------------------- the benefit of the Lender Group, hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9207 of the UCC, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.
Appears in 2 contracts
Samples: Financing Agreement (Gart Sports Co), Financing Agreement (Sports Authority Inc /De/)
