Non-Liability of Lender. Lender has no duty to determine the validity of any invoice, the authority of any shipper named in section 3 to ship goods to Debtor or compliance with any order of Debtor. Lender has no duty to protect, insure, collect or realize upon the Collateral or preserve rights in it against prior parties. Debtor releases Lender from any liability for any act or omission relating to the Obligations, the Collateral or this Agreement, except Lender's willful misconduct.
Appears in 4 contracts
Samples: General Business Security Agreement (Ziegler Companies Inc), General Business Security Agreement (Ziegler Companies Inc), Security Agreement (PMC International Inc)
Non-Liability of Lender. Lender has no duty to determine the validity of any invoice, the authority of any shipper named in section 3 to ship goods to Debtor or compliance with any order of Debtor. Lender has no duty to protect, insure, collect or realize upon the Collateral or preserve rights in it against prior parties. Debtor releases Lender from any liability for any act or omission relating to the Obligations, the Collateral or this Agreement, except Lender's ’s willful misconduct.
Appears in 2 contracts
Samples: General Business Security Agreement (Novelos Therapeutics, Inc.), General Business Security Agreement (Telkonet Inc)
Non-Liability of Lender. Lender has no duty to determine the validity of any invoice, the authority of any shipper named in section Section 3 to ship goods to Debtor or compliance with any order of Debtor. Lender has no duty to protect, insure, collect or realize upon the Collateral or preserve rights in it against prior parties. Debtor releases Lender from any liability for any act or actor omission relating to the Obligations, the Collateral or this Agreement, except Lender's willful misconduct.
Appears in 2 contracts
Samples: General Business Security Agreement (Integrated Information Systems Inc), General Business Security Agreement (Integrated Information Systems Inc)
Non-Liability of Lender. Lender has no duty to determine the validity of any invoice, the authority of any shipper named in section 3 4 to ship goods to Debtor or compliance with any order of Debtor. Lender has no duty to protect, insure, collect or realize upon the Collateral or preserve rights in it against prior parties. Debtor releases Debtors release Lender from any liability for any act or omission relating to the Obligations, the Collateral or this Agreement, except Lender's willful wilful misconduct.
Appears in 1 contract
Non-Liability of Lender. Lender has shall have no duty to determine the validity of any invoice, the authority of any shipper named in section 3 to ship goods to Debtor Debtor, or compliance with any order of Debtor. Lender has no duty to protect, insure, collect or realize upon the Collateral or preserve rights in it against prior parties. parties and Debtor hereby releases Lender from any liability for any act or omission relating to the Obligations, the Collateral or this Agreement, except for Lender's gross negligence or willful misconduct.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Superior Consultant Holdings Corp)
