Common use of No Duty on Secured Party Clause in Contracts

No Duty on Secured Party. The powers conferred on Secured Party, its directors, officers and agents pursuant to this Section 12 are solely to protect Secured Party's interests in the Collateral and shall not impose any duty upon any of them to exercise any such powers. Secured Party shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to Pledgor for any act or failure to act, except for Secured Party's own gross negligence or willful misconduct.

No Duty on Secured Party. The powers conferred on Secured Partythe Administrative Agent, its directors, officers and agents pursuant to this Section 12 11 are solely to protect the Secured Party's Parties’ interests in the Collateral and shall not impose any duty upon any of them to exercise any such powers. Each Secured Party shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to Pledgor any Grantor for any act or failure to act, except for such Secured Party's ’s own gross negligence or willful misconduct.

No Duty on Secured Party. The powers conferred on the Secured Party, its directors, officers and agents pursuant to this Section 12 Party hereunder are solely to protect the interests of the Secured Party's interests Party and the Secured Parties in the Collateral and shall not impose any duty upon any of them the Secured Party to exercise any such powers. The Secured Party shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to Pledgor the Grantor for any act or failure to act, except for the Secured Party's ’s own gross negligence or willful misconduct.

No Duty on Secured Party. The powers conferred on Secured Partythe Agent, its directors, officers and agents pursuant to this Section 12 are solely to protect the Secured Party's Parties’ interests in the Collateral and shall not impose any duty upon any of them to exercise any such powers. Each Secured Party shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to Pledgor any Grantor for any act or failure to act, except for such Secured Party's ’s own gross negligence or willful misconduct.