No Liability on Collateral; Indemnity Clause Samples

No Liability on Collateral; Indemnity. The rights and powers of the Bank hereunder are conferred solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such rights or powers. The Bank does not in any way assume any of the Guarantor's obligations under, or with respect to, the Collateral. The Guarantor shall remain liable with respect to the Collateral to the same extent as if this Agreement had not been executed. The Guarantor agrees to indemnify and hold harmless the Bank against any and all liabilities, claims, damages, actions, proceedings, losses or other obligations arising in connection with or on account of any of the Collateral except for such liabilities, claims, damages, actions, proceedings, losses or obligations as are proven to have been caused by the gross negligence or willful misconduct of Bank.