Common use of Lender's Rights, Duties, and Liabilities Clause in Contracts

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale, or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the Borrower, sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Matria Healthcare Inc)

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Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale, sale or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest Lender's Liens in the Collateral or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the Borrower, sue xxxn xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (TFC Enterprises Inc)

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale, or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the Borrower, sue xxxn or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Globespan Semiconductor Inc)

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale, or other disposition of the Collateral. The Secured Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Secured Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the Borrower, sue xxxn xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Secured Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Guilford Pharmaceuticals Inc)

Lender's Rights, Duties, and Liabilities. The Borrower Each Option Care Person assumes all responsibility and liability arising from or relating to the use, sale, or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower any Option Care Person from any of the Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the Borrowerany Option Care Person, sue xxxn xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower any Option Care Person for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and any Option Care Person; provided that to the Borrowerextent that applicable law prohibits the Lender from collecting any payment directly from a Government Account Debtor, the Lender shall not collect such payment directly from such Government Account Debtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Option Care Inc/De)

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Lender's Rights, Duties, and Liabilities. The Borrower (a) Grantor assumes all responsibility and liability arising from or relating to the use, sale, license or other disposition of the Collateral. The Guaranteed Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest Lender’s Liens or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower Grantor from any of the Guaranteed Obligations. Following the occurrence of and during the continuation of an Event of Default, the Lender may (but shall not be required to), without notice to or consent from the BorrowerGrantor, sue xxxn xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower Grantor for the Guaranteed Obligations or under this the Loan Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerGrantor.

Appears in 1 contract

Samples: General Security Agreement (Industrial Services of America Inc)

Lender's Rights, Duties, and Liabilities. The Borrower assumes all responsibility and liability arising from or relating to the use, sale, or other disposition of the Collateral. The Obligations shall not be affected by any failure of the Lender to take any steps to perfect the Security Interest or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release the Borrower from any of the Obligations. Following the occurrence After an Event of Default and during the continuation of an Event of Defaultthereof, the Lender may (but shall not be required to), without notice to or consent from the Borrower, sue xxxn xxx upon or otherwise collect, extend the time for payment of, modify or amend the terms of, compromise or settle for cash, credit, or otherwise upon any terms, grant other indulgences, extensions, renewals, compositions, or releases, and take or omit to take any other action with respect to the Collateral, any security therefor, any agreement relating thereto, any insurance applicable thereto, or any Person liable directly or indirectly in connection with any of the foregoing, without discharging or otherwise affecting the liability of the Borrower for the Obligations or under this Agreement or any other agreement now or hereafter existing between the Lender and the BorrowerBorrower relating to the transactions contemplated by the Loan Documents.

Appears in 1 contract

Samples: Security Agreement (Strouds Inc)

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