Common use of Lender’s Obligations and Duties Clause in Contracts

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, or arising out of, this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, or pursuant to, any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 3 contracts

Samples: Security Agreement (Lydall Inc /De/), Security Agreement (Lydall Inc /De/), Security Agreement (Lydall Inc /De/)

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Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 2 contracts

Samples: Security Agreement (Uluru Inc.), Security Agreement (Uluru Inc.)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder, except for the termination of agreements in the ordinary course of business and except as otherwise set forth in the Loan Agreement. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Microfluidics International Corp)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor shall will remain obligated and liable under each contract or agreement comprised in included within the Collateral to be observed or performed by the Guarantor thereunder. The Lender shall will not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall will the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, . The Lender will not have any obligation to present or file any claim, claim or to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State UCC or otherwise, shall will be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Health Fitness Corp /Mn/)

Lender’s Obligations and Duties. Anything herein to the contrary ------------------------------- notwithstanding, the Guarantor Company shall remain obligated and liable under each material contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Constellation 3d Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Borrower and Guarantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Borrower and Guarantor thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Borrower or the Guarantor under, under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Cas Medical Systems Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract Contract, Intellectual Property License or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract Contract, Intellectual Property License or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract Contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender Collateral Agent in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract Contract, Intellectual Property License or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State UCC or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (AHPC Holdings, Inc.)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or contractor agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Stran & Company, Inc.)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company or the relevant Guarantor, as applicable, shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Company or such Guarantor thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Company or any Guarantor under, under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Pc Ephone Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor shall Borrower will remain obligated and liable under each contract or agreement comprised in included within the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall will not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall will the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, . The Lender will not have any obligation to present or file any claim, claim or to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State UCC or otherwise, shall will be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Health Fitness Corp /Mn/)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, or arising out of, this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor Borrower under, or pursuant to, any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Lydall Inc /De/)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State State, similar provisions in such other jurisdiction where Collateral may be located, or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Somanta Pharmaceuticals Inc.)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor shall Debtor will remain obligated and liable under each contract or agreement comprised in included within the Collateral to be observed or performed by the Guarantor Debtor thereunder. The Lender shall will not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall will the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Debtor under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, . The Lender will not have any obligation to present or file any claim, claim or to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping safekeeping, and physical preservation of the Collateral in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.under

Appears in 1 contract

Samples: Security Agreement (Urologix Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Debtor thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Debtor under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Miller Industries Inc /Tn/)

Lender’s Obligations and Duties. Anything herein to the contrary ------------------------------- notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the any Lender be obligated in any manner to perform any of the obligations Obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 9.207 of the Uniform Commercial Code of the State state or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Omnibus Security Agreement (Integrated Business Systems & Services Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its possession, under §§ 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Loan Agreement (K-Sea Transportation Partners Lp)

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Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9Section 9.1-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Syndicated Food Service International Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Loan and Security Agreement (Sachem Capital Corp.)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Faraday Financial Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Loan Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §§ 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account. The Borrower acknowledges that the Lender shall have no obligation to marshal any Collateral for the benefit of any Person.

Appears in 1 contract

Samples: Loan and Security Agreement (Planetout Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Debtor thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Debtor under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its possession, under §§ 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (K-Sea Transportation Partners Lp)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Cascade Corp)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the CollateralCollateral , nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9under§ 9.1-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Revolving Note and Credit Agreement Modification Agreement (International Baler Corp)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Borrower shall remain obligated and liable under each contract or agreement comprised in as part of the Collateral to be observed or performed by the Guarantor Borrower thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Borrower under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9ss.9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Kos Pharmaceuticals Inc)

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Guarantor Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Guarantor Company thereunder. The Lender shall not have any obligation or liability under any such contract or agreement by reason of, of or arising out of, of this Agreement or the receipt by the Lender of any payment relating to any of the Collateral, nor shall the Lender be obligated in any manner to perform any of the obligations of the Guarantor under, Company under or pursuant to, to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lender or to which the Lender may be entitled at any time or times. The Lender’s 's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §Section 9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lender deals with similar property for its own account.

Appears in 1 contract

Samples: Security Agreement (Aspect Medical Systems Inc)

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