Common use of The Lender Group’s Liability for Collateral Clause in Contracts

The Lender Group’s Liability for Collateral. Borrower hereby agrees that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 5 contracts

Samples: Loan and Security Agreement (Network Plus Corp), Loan and Security Agreement (Network Plus Corp), Loan and Security Agreement (Network Plus Corp)

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The Lender Group’s Liability for Collateral. Borrower hereby agrees that: : (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 9207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 3 contracts

Samples: Loan and Security Agreement (Ram Energy Inc/Ok), Loan and Security Agreement (Convergent Communications Inc /Co), Loan and Security Agreement (Southwest Royalties Holdings Inc)

The Lender Group’s Liability for Collateral. Each Borrower hereby agrees that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 9207 of the CodeCode and as otherwise required by law, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any causecause other than as a result of the gross negligence or willful misconduct of Agent, any other member of the Lender Group, or any Lender-Related Persons; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Personthird party; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrowerthe Obligors.

Appears in 2 contracts

Samples: Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc)

The Lender Group’s Liability for Collateral. Borrower hereby agrees that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 9207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Employee Solutions Inc), Loan and Security Agreement (Petsec Energy Inc)

The Lender Group’s Liability for Collateral. Borrower hereby agrees that: : (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (CTC Communications Corp)

The Lender Group’s Liability for Collateral. The Borrower hereby agrees that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by the Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Corrections Corp of America/Md)

The Lender Group’s Liability for Collateral. Borrower hereby agrees ----------------------------------------------- that: : (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 of the Code, the Lender Group Agent shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; , (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; , (iii) any diminution in the value thereof; , or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; , and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 1 contract

Samples: Credit Agreement (Energy Corp of America)

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The Lender Group’s Liability for Collateral. Borrower Each Obligor hereby agrees that: (a) so long as the Lender Group Agent complies with its obligations, if any, under Section 9-207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrowerthe Obligors.

Appears in 1 contract

Samples: Loan and Security Agreement (3do Co)

The Lender Group’s Liability for Collateral. Borrower The Obligors hereby agrees agree that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 9207 of the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrowerthe Obligors.

Appears in 1 contract

Samples: Loan and Security Agreement (Sholodge Inc)

The Lender Group’s Liability for Collateral. Each Borrower hereby agrees that: (a) so long as the Lender Group complies with its obligations, if any, under Section 9-207 of the CodeCode and as otherwise required by law, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; (ii) any loss or damage thereto occurring or arising in any manner or fashion from any causecause other than as a result of the gross negligence or willful misconduct of Agent, any other member of the Lender Group, or any Lender-Related Persons; (iii) any diminution in the value thereof; or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Personthird party; and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrowerthe Obligors.

Appears in 1 contract

Samples: Loan and Security Agreement (Guitar Center Inc)

The Lender Group’s Liability for Collateral. Borrower hereby agrees that: (a) so long as the Lender Group Agent complies with its obligations, if any, under Section 9-207 of the CodePPSA, the Code and other applicable law, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral; , (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause; , (iii) any diminution in the value thereof; , or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person; , and (b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrower.

Appears in 1 contract

Samples: Credit Agreement (Dialogic Inc.)

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