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

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, nor any of their 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 Grantor or otherwise.

Appears in 4 contracts

Samples: Pledge Agreement (Oro Spanish Broadcasting Inc), Subsidiary Security Agreement (Oro Spanish Broadcasting Inc), Subsidiary Security Agreement (Oro Spanish Broadcasting Inc)

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Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, Lender nor any of their respective directors, officers, officers or 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 Grantor Borrower or otherwise.

Appears in 4 contracts

Samples: Master Loan and Security Agreement (American Strategic Income Portfolio Inc), Master Loan and Security Agreement (American Strategic Income Portfolio Inc Iii), Master Loan and Security Agreement (American Select Portfolio Inc)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole ’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, Lender nor any of their respective directors, officers, officers or 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 Grantor Borrowers or otherwise.

Appears in 3 contracts

Samples: Master Loan and Security Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp)

Limitation on Duties Regarding Preservation of Collateral. The Administrative Agent's ’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 9207 of the Code or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the Agent, any LenderNo Secured Party, nor any of their respective directors, officers, employees or agents 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 Grantor any Debtor or otherwise.

Appears in 2 contracts

Samples: Security Agreement (West Pharmaceutical Services Inc), Credit Agreement (West Pharmaceutical Services Inc)

Limitation on Duties Regarding Preservation of Collateral. The Collateral Agent's ’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Collateral Agent deals with similar property for its own account. Neither the Agent, any Lender, Collateral Agent nor any of their respective 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 Grantor Borrower or otherwise.

Appears in 2 contracts

Samples: Security Agreement (Intellinetics, Inc.), Security Agreement (Bridgeline Digital, Inc.)

Limitation on Duties Regarding Preservation of Collateral. The Administrative Agent's sole ’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the Agent, any Lender, Administrative Agent nor any of their respective its directors, officers, officers or 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 Grantor Borrower or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement (Fortress Credit Realty Income Trust), Master Loan and Security Agreement (Starwood Waypoint Residential Trust)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, nor any of their 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 Grantor Borrower or otherwise.

Appears in 2 contracts

Samples: Credit and Guarantee Agreement (Warren S D Co /Pa/), Pledge Agreement (Oro Spanish Broadcasting Inc)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, Bank nor any of their 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 Grantor Borrower or otherwise.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Suprema Specialties Inc), Guaranty and Security Agreement (Suprema Specialties Inc)

Limitation on Duties Regarding Preservation of Collateral. The Security Agent's ’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Security Agent deals with similar property for its own account. Neither the Agent, any Lender, Security Agent nor any of their respective 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 Grantor Owner Participant or otherwise.

Appears in 2 contracts

Samples: Credit Agreement (Willis Lease Finance Corp), Mortgage and Security Agreement (Willis Lease Finance Corp)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any LenderBank, nor any of their 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 Grantor Debtor or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Dairy Mart Convenience Stores Inc)

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Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any LenderBank, nor any of their 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 any Grantor or otherwise.

Appears in 1 contract

Samples: Domestic Pledge Agreement (Lear Seating Corp)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole ’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, the Lender nor any of their respective directors, officers, officers or 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 Grantor Borrowers or otherwise.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, nor any of their 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 Grantor or otherwiseany other Person.

Appears in 1 contract

Samples: Execution Version (Aps Holding Corporation)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be he to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, nor any of their 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 Grantor or otherwiseany other Person.

Appears in 1 contract

Samples: Trademark Security Agreement (Aps Holding Corporation)

Limitation on Duties Regarding Preservation of Collateral. The Agent's sole ’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar property for its own account. Neither the Agent, any Lender, Agent nor any of their respective its directors, officers, officers or 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 Grantor Note Issuer or otherwise.

Appears in 1 contract

Samples: Committed Note Purchase and Security (ECC Capital CORP)

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