Common use of Liability to Xxxxxx and Xxxxxx, Liability of Xxxxxx and Xxxxxx Clause in Contracts

Liability to Xxxxxx and Xxxxxx, Liability of Xxxxxx and Xxxxxx. Neither Xxxxxx nor Xxxxxx shall have any duty to the Pledgor relative to any of the Collateral; provided, however, that Xxxxxx and Xxxxxx shall take the same degree of care in relation to the Collateral in their respective possession as each takes with respect to his own securities of a similar type. Xxxxxx and Xxxxxx shall not be liable for any action or omission to act on the part of any agent appointed and selected by Xxxxxx in good faith to act with respect to the Collateral, or any part thereof.