Common use of Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession Clause in Contracts

Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession. Until such time as the Lender exercise its right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s contract rights, the Borrower assumes full responsibility for taking any and all commercially reasonable steps to preserve rights in respect of the Accounts and the Chattel Paper and their contracts against prior parties. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of such of the Collateral as may come into its possession from time to time if the Lender takes such action for that purpose as the Borrower shall request in writing, provided that such requested action shall not, in the judgment of the Lender, impair the Lender’s security interest in the Collateral or its right in, or the value of, the Collateral, and provided further that the Lender receives such written request in sufficient time to permit the Lender to take the requested action.

Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession. Until such time as the Lender exercise exercises its right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s contract rights, the Borrower assumes full responsibility for taking any and all commercially reasonable steps to preserve rights in respect of the Accounts and the Chattel Paper and their contracts against prior parties. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of such of the Collateral as may come into its possession from time to time if the Lender takes such action for that purpose as the Borrower shall request in writing, provided that such requested action shall not, in the judgment of the Lender, impair the Lender’s security interest in the Collateral or its right in, or the value of, the Collateral, and provided further that the Lender receives receive such written request in sufficient time to permit the Lender to take the requested action.

Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession. Until such time as the Lender Lenders exercise its their right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s 's contract rights, the Borrower assumes full responsibility for taking any and all commercially reasonable steps to preserve rights in respect of the Accounts and the Chattel Paper and their its contracts against prior parties. The Lender Lenders shall be deemed to have exercised reasonable care in the custody and preservation of such of the Collateral as may come into its their possession from time to time if the Lender takes Lenders take such action for that purpose as the Borrower shall request in writing, provided that such requested action shall not, in the judgment of the LenderLenders, impair the Lender’s Lenders' security interest in the Collateral or its their right in, or the value of, the Collateral, and provided further that the Lender receives Lenders receive such written request in sufficient time to permit the Lender Lenders to take the requested action.

Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession. Until such time as the Lender exercise exercises its right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s contract rights, the Borrower assumes full responsibility for taking any and all commercially reasonable steps to preserve rights in respect of the Accounts and the Chattel Paper and their all contracts against prior parties. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of such of the Collateral as may come into its possession from time to time if the Lender takes such action for that purpose as the Borrower shall request in writing, provided that such requested action shall not, in the judgment of the Lender, impair the Lender’s security interest in the Collateral or its right in, or the value of, the Collateral, and provided further that the Lender receives such written request in sufficient time to permit the Lender to take the requested action.

Preservation of Rights Against Third Parties; Preservation of Collateral in Lender’s Possession. Until such time as the Lender exercise its right to effect direct collection of the Accounts and the Chattel Paper and to effect the enforcement of the Borrower’s contract rights, the Borrower assumes assume full responsibility for taking any and all commercially reasonable steps to preserve rights in respect of the Accounts and the Chattel Paper and their contracts against prior parties. The Lender shall be deemed to have exercised reasonable care in the custody and preservation of such of the Collateral as may come into its possession from time to time if the Lender takes such action for that purpose as the Borrower shall request in writing, provided that such requested action shall not, in the judgment of the Lender, impair the Lender’s security interest in the Collateral or its right in, or the value of, the Collateral, and provided further that the Lender receives such written request in sufficient time to permit the Lender to take the requested action.