Common use of Rights of Lender; Limitations on Lender’s Obligations Clause in Contracts

Rights of Lender; Limitations on Lender’s Obligations. It is expressly agreed by the Company that, anything herein to the contrary notwithstanding, the Company shall remain liable under each Contract and Document to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of each such Contract or Document. No Lender shall have any obligation or liability under any Contract or Document by reason of or arising out of this Security Agreement or the granting to such Lender of a security interest therein or the receipt by Lender of any payment relating to any Contract or Document pursuant hereto, nor shall Lender be required or obligated in any manner to perform or fulfill any of the obligations of the Company under or pursuant to any Contract or Document, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract or Document, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. In the event that any asset of the Company which, by the terms of any agreement in existence on the date hereof, does not permit the granting of a security interest, the Company hereby grants to each Lender a security interest in all proceeds received by the Company generated by such assets. The Uniform Commercial Code financing statement to be filed by each Lender in connection with this Security Agreement shall contain a provision to the effect of the immediately foregoing sentence.

Rights of Lender; Limitations on Lender’s Obligations. It is expressly agreed by the Company Borrower that, anything herein to the contrary notwithstanding, the Company Borrower shall remain liable under each Contract and Document to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of each such Contract or Document. No Lender shall not have any obligation or liability under any Contract or Document by reason of or arising out of this Security Agreement or the granting to such Lender of a security interest therein or the receipt by Lender of any payment relating to any Contract or Document pursuant hereto, nor shall Lender be required or obligated in any manner to perform or fulfill any of the obligations of the Company Borrower under or pursuant to any Contract or Document, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract or Document, or to present or file any claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. In the event that any asset of the Company Borrower which, by the terms of any agreement in existence on the date hereof, does not permit the granting of a security interest, the Company Borrower hereby grants to each Lender a security interest in all proceeds received by the Company Borrower generated by such assets. The Uniform Commercial Code financing statement to be filed by each Lender in connection with this Security Agreement shall contain a provision to the effect of the immediately foregoing sentence.

Rights of Lender; Limitations on Lender’s Obligations. It is expressly agreed by the Company that, anything (a) Anything herein to the contrary notwithstanding, the Company Borrower shall remain liable under each Contract and Document of the Contracts to which it is a party to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with and pursuant to the terms and provisions of each such Contract or DocumentContract. No The Lender shall not have any obligation or liability under any Contract or Document by reason of of, or arising out of of, this Security Agreement or the granting to such Lender of a security interest therein or the receipt by the Lender of any payment relating to any such Contract or Document pursuant hereto, nor shall the Lender be required or obligated in any manner to (A) perform or fulfill any of the obligations of the Company Borrower under or pursuant to any Contract or DocumentContract, or to (B) make any paymentpayment in connection with any Contract, or to (C) make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Contract or DocumentContract, or to (D) present or file any claim, claim or to take any action to collect or enforce any performance in connection with any Contract, or (E) collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. In . (b) Upon the event that any asset request of the Company whichLender at any time after the occurrence and during the continuance of an Event of Default, by the Borrower shall notify parties to the Contracts to which it is a party that the Contracts have been assigned to the Lender and that payments in respect thereof shall be made directly to the Lender or the designated agent of the Lender. The Lender may, after the occurrence and during the continuance of an Event of Default, in its own name or in the name of such designated agent communicate with parties to the Contracts to verify with them to its satisfaction the existence or amount and terms of any agreement in existence on the date hereof, does not permit the granting of a security interest, the Company hereby grants to each Lender a security interest in all proceeds received by the Company generated by such assets. The Uniform Commercial Code financing statement to be filed by each Lender in connection with this Security Agreement shall contain a provision to the effect of the immediately foregoing sentenceContract.