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

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender nor any of its managers, 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 Borrower or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement

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Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s sole duty The Collateral Agent shall be deemed to Borrower have exercised reasonable care with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be if it takes such action with respect to deal with such the Collateral in a commercially reasonable manneras the Administrative Agent instructs. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender nor None of the Collateral Agent, the Administrative Agent or any of its managerstheir 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 Borrower or otherwise.

Appears in 2 contracts

Samples: Security Agreement (Apollo Debt Solutions BDC), Security Agreement (GOLUB CAPITAL BDC, Inc.)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s Lenders' Representatives sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with such Collateral it in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateralthe same manner as Lenders' Representative would deal with similar property for its own account. Neither Lender Lenders' Representative nor any of its managerspartners, 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 Borrower the Grantor or otherwise.

Appears in 2 contracts

Samples: Patent Security Agreement (Compliance Systems Corp), Patent Security Agreement (Compliance Systems Corp)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such Collateral it in a commercially reasonable mannermanner and in the same manner as the Collateral Agent deals with similar property for its own account. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender nor None of the Lender, the Hedge Counterparty, the Collateral Agent or any of its their respective directors, managers, 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 Borrower or otherwiseotherwise if doing (or not doing) so was in a commercially reasonable manner.

Appears in 2 contracts

Samples: Secured Loan Agreement (Lease Equity Appreciation Fund II, L.P.), Secured Loan Agreement (Lease Equity Appreciation Fund I Lp)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable mannerAgent deals with similar property for its own account. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender None of the Lender, the Insurer, the Hedge Counterparty, the Collateral Agent nor any of its managerstheir 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 Borrower or otherwise.

Appears in 2 contracts

Samples: Warehouse and Security Agreement (TFC Enterprises Inc), Warehouse and Security Agreement (TFC Enterprises Inc)

Limitation on Duties Regarding Preservation of Collateral. XxxxxxLender’s sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender nor any of its managers, 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 Borrower or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s Secured Parties’ sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9a.207 of the UCC or otherwise, shall be to deal with such Collateral it in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateralthe same manner as the Secured Parties deal with similar property for its own account. Neither Lender the Secured Parties nor any of its their directors, officers, members, managers, officerspartners, 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 Borrower the Debtors or otherwise.

Appears in 1 contract

Samples: Amended and Restated Security Agreement (America West Resources, Inc.)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any CollateralAgent deals with similar property for its own account. Neither Lender the Collateral Agent, any of the EPN Group Lenders, nor any of its managerstheir 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 Borrower any Grantor or otherwise.

Appears in 1 contract

Samples: Epepc Security Agreement (El Paso Energy Partners Lp)

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Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The --------------------------------------------------------- Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any CollateralAgent deals with similar property for its own account. Neither Lender nor the Collateral Agent, any of its managersthe Secured Parties or 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 Borrower the Pledgor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Guest Supply Inc)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any CollateralAgent deals with similar property for its own account. Neither Lender the Collateral Agent, any of the EPN Group Lenders, nor any of its managerstheir 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 Borrower or otherwise.

Appears in 1 contract

Samples: Epepc Security Agreement (El Paso Energy Partners Lp)

Limitation on Duties Regarding Preservation of Collateral. XxxxxxThe Collateral Agent’s sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such Collateral it in a commercially reasonable mannermanner and in the same manner as the Collateral Agent deals with similar property for its own account. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender nor None of the Lender, the Hedge Counterparty, the Collateral Agent or any of its their respective directors, managers, 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 Borrower or otherwiseotherwise if doing (or not doing) so was in a commercially reasonable manner.

Appears in 1 contract

Samples: Secured Loan Agreement (LEAF Equipment Leasing Income Fund III, L.P.)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable mannerAgent deals with similar property for its own account. Lender shall have no obligation to take any steps to preserve rights against prior parties to any Collateral. Neither Lender None of the Lender, the Hedge Counterparty, the Collateral Agent nor any of its managerstheir 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 Borrower or otherwise.

Appears in 1 contract

Samples: Warehouse and Security Agreement (Financial Pacific Co)

Limitation on Duties Regarding Preservation of Collateral. Xxxxxx’s The Collateral Agent's sole duty to Borrower with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with such it in the same manner as the Collateral in a commercially reasonable manner. Lender shall have no obligation to take any steps to preserve rights against prior parties to any CollateralAgent deals with similar property for its own account. Neither Lender the Collateral Agent, any of the EPN Group Lenders, nor any of its managerstheir 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 Borrower the Grantor or otherwise.

Appears in 1 contract

Samples: Epepc Security Agreement (El Paso Energy Partners Lp)

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