Common use of No Duty on Secured Party’s Part Clause in Contracts

No Duty on Secured Party’s Part. The powers conferred on Secured Party by this Section 4 are solely to protect Secured Party’s interest in the Collateral and do not impose any duty upon it to exercise any such powers. Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Secured Party nor any of their officers, directors, employees or agents will, in the absence of willful misconduct or gross negligence, be responsible to Pledgor for any act or failure to act pursuant to this Section 3.

No Duty on Secured Party’s Part. The powers conferred on Secured Party by this Section 4 are solely to protect Secured Party’s 's interest in the Collateral and do not impose any duty upon it to exercise any such powers. Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Secured Party nor any of their officers, directors, employees or agents will, in the absence of willful misconduct or gross negligence, be responsible to Pledgor the Company for any act or failure to act pursuant to this Section 34.

No Duty on Secured Party’s Part. The powers conferred on Secured Party by this Section 4 3 are solely to protect Secured Party’s interest in the Collateral and do not impose any duty upon it to exercise any such powers. Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Secured Party nor any of their officers, directors, employees or agents will, in the absence of willful misconduct or gross negligence, be responsible to the Company and Pledgor for any act or failure to act pursuant to this Section 3.

No Duty on Secured Party’s Part. The powers conferred on Secured Party by this Section 4 are solely to protect Secured Party’s interest in the Collateral and do not impose any duty upon it to exercise any such powers. Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Secured Party nor any of their officers, directors, employees or agents will, in the absence of willful misconduct or gross negligence, be responsible to Pledgor for any act or failure to act pursuant to this Section 34.

No Duty on Secured Party’s Part. The powers conferred on the Secured Party by this Section 4 3 are solely to protect the Secured Party’s interest interests in the Collateral and do shall not impose any duty upon it to exercise any such powers. The Secured Party will shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Secured Party nor any of their its officers, directors, employees or agents willshall, in the absence of willful misconduct or gross negligence, be responsible to Pledgor either Debtor for any act or failure to act pursuant to this Section 3.

No Duty on Secured Party’s Part. The powers conferred on the Secured Party by this Section 4 3 are solely to protect the Secured Party’s interest 's interests in the Collateral and do shall not impose any duty upon it to exercise any such powers. The Secured Party will shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Secured Party nor any of their its officers, directors, employees or agents willshall, in the absence of willful misconduct or gross negligence, be responsible to Pledgor the Debtor for any act or failure to act pursuant to this Section 3.

No Duty on Secured Party’s Part. The powers conferred on Secured Party and the Collateral Agent by this Section 4 are solely to protect Secured Party’s interest in the Collateral and do not impose any duty upon it to exercise any such powers. Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither Secured Party nor any of their officers, directors, employees or agents will, in the absence of willful misconduct or gross negligence, be responsible to Pledgor Pledgors for any act or failure to act pursuant to this Section 34.