Common use of RESPONSIBILITY FOR COMMERCIAL OPERATIONS Clause in Contracts

RESPONSIBILITY FOR COMMERCIAL OPERATIONS. 8.1 It is agreed that until such time as a Notice of Default is served by the Pledgee, as well as after such events, the Pledgors shall be fully responsible for the continuing commercial operations of the Company and shall ensure that all agreements and laws binding the Company shall be fully and faithfully observed through the Board of Directors of the Company. Without prejudice to its rights hereunder, the Pledgee and the Secured Parties shall under no condition be responsible for the commercial operations of the Company.

RESPONSIBILITY FOR COMMERCIAL OPERATIONS. 8.1 It is agreed that until such time as a Notice of Default is served by the Pledgee, as well as after such events, the Pledgors Pledgor shall be fully responsible for the continuing commercial operations of the Company and shall ensure that all agreements and laws binding the Company shall be fully and faithfully observed through the Board of Directors of the Company. Without prejudice to its rights hereunder, the Pledgee and the Secured Parties shall under no condition be responsible for the commercial operations of the Company.