No Duties Imposed Upon Agent or any Lender. The rights granted to Agent in this Agreement are solely for its protection and nothing herein contained imposes on Agent or any Lender any duties with respect to any of the Collateral. None of Agent or any Lender has any duty to preserve rights against prior parties on any instrument or chattel paper received from any Borrower as collateral security for any of the Senior Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Texas Market Tire, Inc.), Loan and Security Agreement (American Tire Distributors Inc)
No Duties Imposed Upon Agent or any Lender. The rights granted to the Agent in this Agreement are solely for its protection and nothing herein contained imposes on the Agent or any Lender any duties with respect to any of the Collateral. None of the Agent or any Lender has any duty to preserve rights against prior parties on any instrument or chattel paper received from any Borrower as collateral security for any of the Senior Obligations.
Appears in 2 contracts
Samples: Credit Agreement (ATD Corp), Credit Agreement (American Tire Distributors Holdings, Inc.)
No Duties Imposed Upon Agent or any Lender. The rights granted to Agent in this Agreement are solely for its protection and nothing herein contained imposes on Agent or any Lender any duties with respect to any of the Collateral. None of Agent or any Lender has any duty to preserve rights against prior parties on any instrument or chattel paper received from any Borrower Loan Party as collateral security for any of the Senior Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (American Tire Distributors Inc)
