Non-Liability of Lender. Lender has no duty to preserve or protect the Collateral, to preserve the rights of the Borrower or Guarantor against other parties, or to sell, lease, or otherwise dispose of any or all of the Collateral, or its proceeds, or in any priority, unless it elects to do so as provided in this Agreement. This Section is to be deemed an express waiver of the defense of impairment of Collateral.
Appears in 2 contracts
Samples: Revolving Loan and Security Agreement (K Tronik International Corp), Revolving Loan and Security Agreement (Integrated Biopharma Inc)
Non-Liability of Lender. Lender has no duty to preserve or protect the Collateral, to preserve the rights of the Borrower or Guarantor against other parties, or to sell, lease, or otherwise dispose of any or all of the Collateral, or its proceeds, or in any priority, unless it elects to do so as provided in this Agreement. This Section is to be deemed an express waiver of the defense of impairment of Collateral.
Appears in 2 contracts
Samples: Control Agreement (Media Sciences International Inc), Loan and Security Agreement (Osteotech Inc)
