Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral.
Appears in 10 contracts
Samples: Revolving Credit Note (Nortech Systems Inc), Loan Agreement (Coral Systems Inc), Security Agreement (Artistic Greetings Inc)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively collectively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral. Lender has no duty to collect any income accruing on the Collateral or to preserve any rights relating to the Collateral.
Appears in 5 contracts
Samples: Commercial Security Agreement (Boyd Bros Transportation Inc), Commercial Security Agreement (American Consumers Inc), Commercial Security Agreement (American Consumers Inc)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively collectively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral.
Appears in 3 contracts
Samples: Commercial Security Agreement (Cybex Computer Products Corp), Commercial Security Agreement (American Consumers Inc), Commercial Security Agreement (American Consumers Inc)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively collectively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral.
Appears in 1 contract
Samples: Commercial Security Agreement (Cybex Computer Products Corp)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively collectively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral. Lender has no duty to collect any income accruing on the Collateral or to preserve any rights relating to the Collateral.
Appears in 1 contract
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or DamageDamage in excess of $250,000.00, net of insurance proceeds, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected CollateralCollateral to be applied to reduce the amount outstanding under the Obligations.
Appears in 1 contract
Samples: Commercial Loan Agreement (Rules-Based Medicine Inc)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "Loss or Damage") to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral. Lender has no duty to collect any income accruing on the Collateral or to preserve any rights relating to the Collateral.
Appears in 1 contract
Samples: Commercial Security Agreement (Syndicated Food Service International Inc)
Loss or Damage. Owner shall bear the entire risk of any loss, theft, destruction or damage (cumulatively "βLoss or Damage"β') to all or any part of the Collateral. In the event of any Loss or Damage, Owner will either restore the Collateral to its previous condition, replace the Collateral with similar property acceptable to Lender in its sole discretion, or pay or cause to be paid to Lender the decrease in the fair market value of the affected Collateral.
Appears in 1 contract
Samples: Asset Purchase Agreement (CTM Media Holdings, Inc.)
