Common use of Possession; Reasonable Care Clause in Contracts

Possession; Reasonable Care. Regardless of whether an Event of Default has occurred or is continuing, the Lenders shall have the right to hold in their possession all Pledged Shares pledged, assigned or transferred hereunder and from time to time constituting a portion of the Collateral. The Lenders may appoint a Person (which in no case shall be a Debtor or an affiliate or agent of a Debtor) to hold physical custody, for the accounts of the Lenders, of any or all of the Collateral. A Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Lender accords its own property, it being understood that a Lender shall not have any responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Lender has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Collateral. Following the occurrence and continuance of an Event of Default, the Lenders shall be entitled to take possession of the Collateral in accordance with the UCC or PPSA, as each may apply to the Collateral.

Possession; Reasonable Care. Regardless of whether a Default or an Event of Default has occurred or is continuing, the Lenders Bank shall have the right to hold in their its possession all Pledged Shares pledged, assigned or transferred hereunder and from time to time constituting a portion of the Collateral. The Lenders Bank may appoint a Person one or more agents (which in no case shall be a the Debtor or an affiliate or agent of a the Debtor) to hold physical custody, for the accounts account of the LendersBank, of any or all of the Collateral. A Lender The Bank shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Lender Bank accords its own property, it being understood that a Lender the Bank shall not have any responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Lender Bank has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Collateral. Following the occurrence and continuance of an Event of Default, the Lenders Bank shall be entitled to take possession of the Collateral in accordance with the UCC or PPSA, as each may apply to the CollateralUCC.

Possession; Reasonable Care. Regardless of whether a Default or an Event of Default has occurred or is continuing, the Lenders Bank shall have the right to hold in their its possession all Pledged Shares pledged, assigned or transferred hereunder and from time to time constituting a portion of the Collateral. The Lenders Bank may appoint a Person one or more agents (which in no case shall be a Debtor or an affiliate or agent of a Debtor) to hold physical custody, for the accounts account of the LendersBank, of any or all of the Collateral. A Lender The Bank shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Lender Bank accords its own property, it being understood that a Lender the Bank shall not have any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not the Lender Bank has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties with respect to any Collateral. Following the occurrence and continuance of an Event of Default, the Lenders Bank shall be entitled to take possession ownership of the Collateral in accordance with the UCC or PPSA, as each may apply to the CollateralUCC.