Duty of Secured Parties. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Parties shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the Pledgor.
Appears in 7 contracts
Samples: Pledge of Shares of Beneficial Interests Agreement (Five Star Quality Care Inc), Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc), Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc)
Duty of Secured Parties. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Parties shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the applicable Pledgor.
Appears in 3 contracts
Samples: Pledge of Stock and Membership Interests Agreement (Five Star Quality Care Inc), Pledge of Stock and Membership Interests Agreement (Five Star Quality Care Inc), Pledge of Stock and Membership Interests Agreement (Five Star Quality Care Inc)
Duty of Secured Parties. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Parties shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the PledgorPledgors.
Appears in 1 contract
Samples: Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc)