No Collection Obligations. Custodian shall be under no obligation to take action to collect any amount payable on Collateral in default, or if payment is refused after due demand and presentment.
Appears in 7 contracts
Sources: Account Control Agreement (La Rosa Holdings Corp.), Account Control Agreement (Lion Group Holding LTD), Account Control Agreement (Nocera, Inc.)
No Collection Obligations. The Custodian shall be under no obligation to take action to collect any amount payable on Collateral in default, or if payment is refused after due demand and presentment.
Appears in 5 contracts
Sources: Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD), Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)
No Collection Obligations. Custodian shall be under no obligation to take action to collect any amount payable on Collateral in default, except with respect to payments actually made or if payment is refused after due demand and presentment.
Appears in 1 contract