Common use of No Duty on the Part of Bank Clause in Contracts

No Duty on the Part of Bank. The powers conferred on the Bank hereunder are solely to protect the interests of the Secured Parties in the Collateral and shall not impose any duty upon the Bank to exercise any such powers. The Bank shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.

No Duty on the Part of Bank. The powers conferred on the Bank hereunder are solely to protect the Bank’s interests of the Secured Parties in the BSST Patent and Trademark Collateral and shall not impose any duty upon the Bank to exercise any such powers. The Bank shall be accountable only for amounts that they it actually receive receives as a result of the exercise of such powers, and neither they it nor any of their its officers, directors, employees or agents shall be responsible to any the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.

No Duty on the Part of Bank. The powers conferred on the Bank hereunder are solely to protect the Bank’s interests of the Secured Parties in the Borrower Patent and Trademark Collateral and shall not impose any duty upon the Bank to exercise any such powers. The Bank shall be accountable only for amounts that they it actually receive receives as a result of the exercise of such powers, and neither they it nor any of their its officers, directors, employees or agents shall be responsible to any the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.