Common use of Safekeeping of Inventory Clause in Contracts

Safekeeping of Inventory. Pledgor shall be responsible for the safekeeping of its Inventory, and in no event shall Secured Party or any Lender have any responsibility for: (i) Any loss or damage to Inventory or destruction thereof occurring or arising in any manner or fashion from any cause other than as a result of gross negligence, bad faith or willful misconduct of the Agent or any Lender; (ii) Any diminution in the value of Inventory; or (iii) Any act or default of any carrier, warehouseman, bailee or forwarding agency thereof or other Person in any way dealing with or handling Inventory.

Safekeeping of Inventory. Pledgor shall be responsible for the safekeeping of its Inventory, and in no event shall Secured Party or any Lender have any responsibility for: (i) Any loss or damage to Inventory or destruction thereof occurring or arising in any manner or fashion from any cause other than as a result of gross negligence, bad faith or willful misconduct of the Agent or any Lender; (ii) Any diminution in the value of Inventory; or (iii) Any act or default of any carrier, warehousemanwarehouse-man, bailee or forwarding agency thereof or other Person in any way dealing with or handling Inventory.