Common use of Limitation on Duties Regarding Preservation of Collateral Clause in Contracts

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 30 contracts

Samples: Development and Commercialization Agreement (Acucela Inc.), Development and Commercialization Agreement (Acucela Inc), Security Agreement (Zwan Bryan J)

AutoNDA by SimpleDocs

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s Parties’ sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals Parties deal with similar property for its their own account. Neither the Secured Party Parties nor any of its their directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 4 contracts

Samples: Security Agreement (Rvision, Inc), Security Agreement (Rvision, Inc), Security Agreement (Paxton Energy Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 4 contracts

Samples: Security Agreement (Expedition Leasing,Inc.), Security Agreement (Zwan Bryan J), Security Agreement (Digital Lightwave Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 4 contracts

Samples: Blanket Security Agreement (Genesys Industries, Inc.), Blanket Security Agreement (Genesys Industries, Inc.), Security Agreement (Digital Lightwave Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9.207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Pledgor or otherwise.

Appears in 2 contracts

Samples: Modification Agreement (Natural Gas Services Group Inc), Loan Agreement (Natural Gas Services Group Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Borrower or otherwise.

Appears in 2 contracts

Samples: Investment Agreement (AMERICAS ENERGY Co - AECO), Investment Agreement (AMERICAS ENERGY Co - AECO)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 of the UCC or otherwise, shall be to deal with it use reasonable care in the same manner as the Secured Party deals with similar property for its own accountcustody and preservation thereof. Neither the Secured Party nor any of its respective directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Securing Party or otherwise.

Appears in 2 contracts

Samples: Security Agreement (Organic to Go Food CORP), Security Agreement (Organic to Go Food CORP)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9.207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 2 contracts

Samples: Loan Agreement (Natural Gas Services Group Inc), Modification Agreement (Natural Gas Services Group Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Pledgor or otherwise.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Guest Supply Inc), Security Agreement (Guest Supply Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9.207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise. Without limiting the generality of the foregoing, the Secured Party shall not have any obligation to take any action with respect to the maintenance, protection, enforcement or validity of any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Baron Energy Inc.)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s Parties' sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals Parties deal with similar property for its their own account. Neither the Secured Party Parties nor any of its their directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Paxton Energy Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.. Execution Copy

Appears in 1 contract

Samples: Development and Commercialization Agreement

AutoNDA by SimpleDocs

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party Party, nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Boundless Motor Sports Racing Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 Sec­tion 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals deal with similar property for its their own account. Neither the Secured Party nor any of its their directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Ethos Environmental, Inc.)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Debtor-sub or otherwise.

Appears in 1 contract

Samples: Security Agreement (Vocalscape Networks, Inc.)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals would deal with similar property for its own account. Neither the Secured Party nor any of its partners, directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor Grantor or otherwise.

Appears in 1 contract

Samples: Intellectual Property Security Agreement (Intek Information Inc)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9.207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise. Without limiting the generality of the foregoing, the Secured Party shall not have any obligation to take any action with respect to the maintenance, protection, enforcement or validity of any of the Collateral.

Appears in 1 contract

Samples: Security Agreement (Baron Energy Inc.)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty with respect to the custody, safekeeping and physical preservation of the CollateralCollateral in its possession, under Section 9207 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party Party, nor any of its respective directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Iwt Tesoro Corp)

Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s 's sole duty with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 RCW 62.9-207 of the UCC Code or otherwise, shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Popmail Com Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!