Common use of Safekeeping of Orders Clause in Contracts

Safekeeping of Orders. Any executed orders to be used as Bankers' Acceptances which are delivered to a Canadian Lender shall be held in safekeeping with the same degree of care as if they were such Canadian Lender's own property, and shall be kept at the place at which such orders are ordinarily held by such Canadian Lender, provided that such Canadian Lender shall not be deemed to be an insurer thereof.

Appears in 7 contracts

Samples: Credit Agreement (Wesco International Inc), Credit Agreement (Hercules Inc), Credit Agreement (Wolverine Tube Inc)

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Safekeeping of Orders. Any executed orders to be used as Bankers' ’ Acceptances which are delivered to or held by a Canadian Revolving Lender shall be held in safekeeping with the same degree of care as if they were such Canadian Revolving Lender's ’s own property, and shall be kept at the place at which such orders are ordinarily held by such Canadian Revolving Lender, provided that such Canadian Revolving Lender shall not be deemed to be an insurer thereof.

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

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Safekeeping of Orders. Any executed orders to be used as Bankers' Acceptances which are delivered to or held by a Canadian Lender shall be held in safekeeping with the same degree of care as if they were such Canadian Lender's own property, and shall be kept at the place at which such orders are ordinarily held by such Canadian Lender, provided that such Canadian Lender shall not be deemed to be an insurer thereof.

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

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