No Duty on the Part of Lender. The powers conferred on Lender and hereunder are solely to protect Lender's interests in the Collateral and shall not impose any duty upon Lender to exercise any such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees, affiliates, agents or successors shall be responsible to Borrower for any act or failure to act hereunder, except for their gross negligence or willful misconduct.
Appears in 5 contracts
Samples: Credit and Security Agreement (Long Beach Holdings Corp), Credit and Security Agreement (Long Beach Holdings Corp), Credit and Security Agreement (Long Beach Holdings Corp)
No Duty on the Part of Lender. The powers conferred on the Lender and hereunder are solely to protect Lender's interests its interest in the Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it the Lender nor any of its officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower Grantor for any act or failure to act hereunder, except for their own gross negligence bad faith or willful misconduct.
Appears in 4 contracts
Samples: Pledge and Security Agreement (Bank of Commerce Holdings), Pledge and Security Agreement (Intermountain Community Bancorp), Loan Agreement (First Foundation Inc.)
No Duty on the Part of Lender. The powers conferred on the Lender and hereunder are solely to protect Lender's interests its interest in the Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it the Lender nor any of its officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower Grantor for any act or failure to act hereunder, except for their own gross negligence negligence, bad faith or willful misconduct.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Origin Bancorp, Inc. Attn: Chase Anderson), Pledge and Security Agreement (ServisFirst Bancshares, Inc.)
No Duty on the Part of Lender. The powers conferred on Lender and hereunder under this Agreement are solely to protect Lender's interests in the Collateral and shall not impose any duty upon Lender to exercise any such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees, affiliates, agents or successors shall be responsible to Borrower for any act or failure to act hereunder, except for their gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Credit and Security Agreement (Long Beach Holdings Corp), Credit and Security Agreement (Long Beach Holdings Corp)
No Duty on the Part of Lender. The powers conferred on the Lender and hereunder are solely to protect the Lender's ’s interests in the Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Patent, Trademark and Copyright Security Agreement (Advanced Photonix Inc)
No Duty on the Part of Lender. The powers conferred on the Lender and hereunder are solely to protect Lender's interests its interest in the Collateral and shall not impose any duty upon the Lender to exercise any such powers. The Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it the Lender nor any of its officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower Grantor for any act or failure to act hereunder, except for on account of their own gross negligence bad faith or willful misconduct.
Appears in 1 contract
Samples: Pledge and Security Agreement (YADKIN FINANCIAL Corp)
No Duty on the Part of Lender. The powers conferred on Lender and hereunder are solely to protect Lender's the interests of Lender in the Collateral Collateral, and shall not impose any duty upon Lender to exercise any such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower the Loan Parties for any act or failure to act hereunder, except for their its own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on the Part of Lender. The powers conferred on Lender and hereunder are solely to protect Lender's the interests of Lender in the Collateral and shall not impose any duty upon Lender to exercise any such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its partners, officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower the Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconductmisconduct or failure to comply with mandatory provisions of applicable law.
Appears in 1 contract
Samples: Trademark and Patent Security Agreement (Find SVP Inc)
No Duty on the Part of Lender. The powers conferred on Lender and hereunder are solely to protect Lender's the interests of Lender in the Collateral and shall not impose any duty upon Lender to exercise any such powers. Lender shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its partners, officers, directors, employees, affiliates, employees or agents or successors shall be responsible to Borrower for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
Appears in 1 contract