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

No Duty on Secured Party’s Part. The powers conferred on the Secured Party by this Section 3 are solely to protect the Secured Party’s interest in the Collateral and do not impose any duty upon it to exercise any such powers. The Secured Party will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and the Secured Party will not, in the absence of willful misconduct or negligence, be responsible to 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 the Secured Party by this Section 3 hereunder are solely to protect the Secured Party’s interest 's interests in the Collateral and do will not impose any duty upon it to exercise any such powers. The Secured Party and its agents will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and the Secured Party will not, in the absence of willful misconduct or negligence, not be responsible to the Debtor for any act or failure to act pursuant hereunder, except for Secured Party's own gross negligence or willful misconduct. It is further agreed and understood between the parties hereto that such care as Secured Party gives to this Section 3the safekeeping of its own property of like kind shall constitute reasonable care of the Collateral when in Secured Party's possession.

No Duty on Secured Party’s Part. The powers conferred on the Secured Party by this Section 3 hereunder are solely to protect the Secured Party’s interest interests in the Collateral and do shall not impose any duty upon it the Secured Party 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 the Secured Party will notneither it nor any of their officers, in the absence of willful misconduct directors, employees or negligence, agents shall be responsible to the Debtor any Grantor for any act or failure to act pursuant to this Section 3hereunder, except for its own gross negligence or willful misconduct.

No Duty on Secured Party’s Part. The powers conferred on the Secured Party by this Section 3 hereunder 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 the Secured Party will notneither it nor any of its officers, in the absence of willful misconduct directors, employees or negligence, agents shall be responsible to the Debtor for any act or failure to act pursuant to this Section 3hereunder, except for its or their gross negligence or willful misconduct.

No Duty on Secured Party’s Part. The powers conferred on the Secured ------------------------------- Party by this Section 3 hereunder are solely to protect the Secured Party’s interest 's interests in the Collateral and do will not impose any duty upon it to exercise any such powers. The Secured Party and its agents will be accountable only for amounts that it actually receives as a result of the exercise of such powers, and the Secured Party will not, in the absence of willful misconduct or negligence, not be responsible to the Debtor for any act or failure to act pursuant hereunder, except for Secured Party's own gross negligence or willful misconduct. It is further agreed and understood between the parties hereto that such care as Secured Party gives to this Section 3the safekeeping of its own property of like kind shall constitute reasonable care of the Collateral when in Secured Party's possession.