Common use of Lender’s Liability for Collateral Clause in Contracts

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconduct. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cerulean Pharma Inc.), Loan and Security Agreement (Cerulean Pharma Inc.)

AutoNDA by SimpleDocs

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever whomsoever, unless arising out of Lender’s gross negligence or willful misconductLender fails to handle any Collateral in its possession in a manner consistent with commercially reasonable practices. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Kior Inc), Loan and Security Agreement (Kior Inc)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (iI) the safekeeping of any CollateralCollateral (except as required under Section 9-207 of the UCC); (iiII) any loss or damage thereto occurring or arising in any manner or fashion from any causecause except from Lender's gross negligence or willful misconduct; (iiiIII) any diminution in the value thereof; or (ivIV) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All such risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s 's powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (NxStage Medical, Inc.)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s whomsoever. Except where Collateral is damaged by the gross negligence or willful misconduct. All misconduct of Lender, all risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (SuccessFactors, Inc.)

Lender’s Liability for Collateral. Lender Lenders shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; , or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender Lenders will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s Lenders’ powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender Lenders or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains Lenders retain any documents delivered by Borrower only for its their purposes and for such period as each Lender, at its sole discretion, may determine necessary, after which time such Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Kior Inc)

Lender’s Liability for Collateral. Provided Lender complies with its duties and responsibilities under the UCC, Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Foundation Medicine, Inc.)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s 's powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Combinatorx, Inc)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful intentional misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to any Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by any Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from such Borrower.

Appears in 1 contract

Samples: Share Pledge Agreement (Zipcar Inc)

AutoNDA by SimpleDocs

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any causecause other than Lender’s gross negligence or willful misconduct; (iii) any diminution in the value thereof; , or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All Except as noted in the preceding sentence, all risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes relating to the Agreement and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Restore Medical, Inc.)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any CollateralCollateral (except to the extent mandated by the UCC); (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne [***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Confidential Treatment Requested by Fluidigm Corporation by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.. [***] Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Confidential Treatment Requested by Fluidigm Corporation

Appears in 1 contract

Samples: Secured Promissory Note (Fluidigm Corp)

Lender’s Liability for Collateral. Lender Lenders shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender Lenders will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s Lenders’ powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender Lenders or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains Lenders retain any documents delivered by Borrower only for its their purposes and for such period as each Lender, at its sole discretion, may determine necessary, after which time such Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Kior Inc)

Lender’s Liability for Collateral. Subject to Lender's obligations under Section 9207 of the UCC, Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s 's powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (NovaCardia Inc)

Lender’s Liability for Collateral. Lender shall not in any way or manner be liable or responsible for; : (i) the safekeeping of any Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other person or entity whomsoever unless arising out of Lender’s gross negligence or willful misconductwhomsoever. All risk of loss, damage or destruction of the Collateral shall be borne by BorrowerObligors. Lender will have no responsibility for taking any steps to preserve rights against any parties respecting any Collateral, except for Lender’s gross negligence or willful misconduct. Lender’s powers hereunder are conferred solely to protect its interest in the Collateral and do not impose any duty to exercise any such powers. None of Lender or any of its officers, directors, employees, agents or counsel will be liable for any action lawfully taken or omitted to be taken hereunder or in connection herewith (excepting gross negligence or willful misconduct), nor under any circumstances have any liability to Borrower Obligors for lost profits or other special, indirect, punitive, or consequential damages. Lender retains any documents delivered by Borrower Obligors only for its purposes and for such period as Lender, at its sole discretion, may determine necessary, after which time Lender may destroy such records without notice to or consent from BorrowerObligors.

Appears in 1 contract

Samples: Secured Promissory Note (Enerkem Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.