No Implied Obligations on Secured Party. The rights conferred on Secured Party hereunder are solely intended to protect Secured Party’s interest in Collateral and shall not imply any further obligations or impose any duty upon Secured Party to exercise any such rights. Except as required by law, Secured Party shall have no duty with respect to any item of Collateral, or to take any steps to preserve rights against prior parties or any other rights pertaining to any item of Collateral.
Appears in 8 contracts
Samples: Purpose Security Agreement, Purpose Security Agreement, City Purpose Security Agreement
No Implied Obligations on Secured Party. The rights conferred on Secured Party hereunder are solely intended to protect Secured Party’s interest in Collateral and shall not imply any further obligations or impose any duty upon Secured Party to exercise any such rights. Except as required by law, Secured Party shall have no duty with respect to any item of Collateral, or to take any steps to preserve rights against prior parties or any other rights pertaining to any item of Collateral. No additional text on this page.
Appears in 1 contract
Samples: Purpose Security Agreement
