Common use of Secured Party's Duty of Care Clause in Contracts

Secured Party's Duty of Care. The Secured Party's duty with respect to the Collateral shall be solely to use reasonable care in the physical custody and physical preservation of such Collateral in its possession and the Secured Party shall not be obligated to take any steps necessary to preserve any rights in any of such property against third parties and the Pledgor agrees to take such steps. The Secured Party shall have no responsibility for ascertaining, nor for informing the Pledgor with respect to, nor be required to take any action concerning, any maturities, calls, conversions, exchanges, offers, tenders or similar matters relating to any of the property of the Pledgor (whether or not the Secured Party has, or is deemed to have, knowledge of any of the aforesaid), provided that the Secured Party shall endeavor to take such action as may be requested or authorized by the Pledgor if the Secured Party determines, in its sole discretion, that such action will not in any way adversely affect the value of the Collateral or the ability of the Secured Party to realize upon the value of such Collateral. The Secured Party shall not be bound to take any steps necessary to preserve any rights in any of the property of the Pledgor against prior parties who may be liable in connection therewith.

Secured Party's Duty of Care. Other than the exercise of reasonable care to ensure the safe custody of the Pledged Collateral while being held by the Secured Party hereunder, the Secured Party will have no duty or liability to preserve rights pertaining thereto, it being understood and agreed that the Pledgor will be responsible for preservation of all rights in the Pledged Collateral of the Pledgor, and the Secured Party will be relieved of all responsibility for the Pledged Collateral upon surrendering it or tendering the surrender of it to the Pledgor. The Secured Party's duty with respect Party will be deemed to the Collateral shall be solely to use have exercised reasonable care in the physical custody and physical preservation of such the Pledged Collateral in its possession and if such Pledged Collateral is accorded treatment substantially equal to that which the Secured Party shall not accords its own property, which will be obligated to take any steps necessary to preserve any rights no less than the treatment employed by a reasonable and prudent agent in any of such property against third parties and the Pledgor agrees to take such steps. The industry, it being understood that the Secured Party shall will not have no responsibility for ascertaining, nor for informing the Pledgor for: (i) ascertaining or taking action with respect to, nor be required to take any action concerning, any maturities, calls, conversions, exchanges, offersmaturities, tenders or similar other matters relating to any of the property of the Pledgor (Pledged Collateral, whether or not the Secured Party has, has or is deemed to have, have knowledge of such matters; or (ii) taking any of the aforesaid), provided that the Secured Party shall endeavor to take such action as may be requested or authorized by the Pledgor if the Secured Party determines, in its sole discretion, that such action will not in any way adversely affect the value of the Collateral or the ability of the Secured Party to realize upon the value of such Collateral. The Secured Party shall not be bound to take any necessary steps necessary to preserve rights against any rights in parties with respect to any of the property of the Pledgor against prior parties who may be liable in connection therewithPledged Collateral.

Secured Party's Duty of Care. The Secured Party's duty with respect to the Collateral shall be solely to use reasonable care in the physical custody and physical preservation of such Collateral in its possession and the Secured Party shall not be obligated to take any steps necessary to preserve any rights in any of such property against third parties and the Pledgor agrees to take such steps. The Secured Party shall have no responsibility for ascertaining, nor for informing the Pledgor with respect to, nor be required to take any action concerning, any maturities, calls, conversions, exchanges, offers, tenders or similar matters relating to any of the property of the Pledgor (whether or not the Secured Party has, or is deemed to have, knowledge of any of the aforesaid), provided that the Secured Party shall endeavor to take such action as may be requested or authorized by the Pledgor if the Secured Party determines, in its sole discretion, that such action will not in any way adversely affect the value of the Collateral or the ability of the Secured Party to realize upon the value of such Collateral. The Secured Party shall not be bound to take any steps necessary to preserve any rights in any of the property of the Pledgor Xxxxxxx against prior parties who may be liable in connection therewith.

Secured Party's Duty of Care. Other than the exercise of reasonable care to ensure the safe custody of the Pledged Collateral while being held by the Secured Party hereunder, the Secured Party will have no duty or liability to preserve rights pertaining thereto, it being understood and agreed that the Pledgor will be responsible for preservation of all rights in the Pledged Collateral of the Pledgor, and the Secured Party will be relieved of all responsibility for the Pledged Collateral upon surrendering it or tendering the surrender of it to the Pledgor. The Secured Party's duty with respect Party will be deemed to the Collateral shall be solely to use have exercised reasonable care in the physical custody and physical preservation of such the Pledged Collateral in its possession and if such Pledged Collateral is accorded treatment substantially equal to that which the Secured Party shall not accords its own property, which will be obligated to take any steps necessary to preserve any rights no less than the treatment employed by a reasonable and prudent agent in any of such property against third parties and the Pledgor agrees to take such steps. The industry, it being understood that the Secured Party shall will not have no responsibility for ascertaining, nor for informing the Pledgor for: (i) ascertaining or taking action with respect to, nor be required to take any action concerning, any maturities, calls, conversions, exchanges, offersmaturities, tenders or similar other matters relating to any of the property of the Pledgor (Pledged Collateral, whether or not the Secured Party has, has or is deemed to have, have knowledge of such matters; or (ii) taking any of the aforesaid), provided that the Secured Party shall endeavor necessary steps to take such action as may be requested or authorized by the Pledgor if the Secured Party determines, in its sole discretion, that such action will not in preserve rights against any way adversely affect the value of the Collateral or the ability of the Secured Party parties with respect to realize upon the value of such any Pledged Collateral. The Secured Party shall not be bound to take any steps necessary to preserve any rights in any of the property of the Pledgor against prior parties who may be liable in connection therewith.Dxxxx: 14763739.5