Common use of The Secured Party’s Duties Clause in Contracts

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 4 contracts

Samples: Loan and Security Agreement (BlueNRGY Group LTD), Loan and Security Agreement (BlueNRGY Group LTD), Revolving Loan and Security Agreement (CBD Energy LTD)

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The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for The Secured Party shall be deemed to have exercised reasonable care in the safe custody safekeeping of any Collateral in its possession and if such Collateral is accorded treatment substantially equal to the accounting for moneys actually received by it hereunder, safekeeping which the Secured Party shall have no duty as to any Collateral or as to the taking accords its own property of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collaterallike kind.

Appears in 4 contracts

Samples: Pledge Agreement (Bekem Metals Inc), Agreement and Plan of Merger (Guilford Pharmaceuticals Inc), Line of Credit Agreement (Mgi Pharma Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest (for the benefit of the Lenders), in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Russell Corp), Security Agreement (Phoenix Racing Inc), Security Agreement (Synthetic Industries Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it the Secured Party to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it the Secured Party hereunder, the Secured Party shall have no duty duties as to any Collateral. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral or as in its possession if the Collateral is accorded treatment substantially equal to that which the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any CollateralSecured Party accords its own properties.

Appears in 1 contract

Samples: Security Agreement (Avatech Solutions Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys monies actually received by it hereunder, the Secured Party shall have no duty as to any the Collateral or other matters relative to the Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any the Collateral.

Appears in 1 contract

Samples: Leasehold Security Agreement (Tennessee Valley Authority)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its the Secured Party's interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the The Secured Party shall not have no any duty as to any Collateral Collat­eral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights Person pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Interactive Brand Development Inc.)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its the Secured Party's interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral or any portion thereof in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any the Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any the Collateral.

Appears in 1 contract

Samples: Security Agreement (Penn Octane Corp)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its their interest in the Collateral and shall not impose any duty upon it them to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Futurelink Corp)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it the Secured Party to exercise any such powers. Except for the safe reasonable care in the custody and preservation of any Collateral in its possession and the accounting for moneys amounts actually received by it hereunder, the Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties any person or entity or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Master Settlement Agreement (Video Lottery Technologies Inc/De)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any the Collateral or as to the taking of any necessary steps to preserve its rights against prior other parties or any other rights pertaining to any the Collateral.

Appears in 1 contract

Samples: Security Agreement (MBI Financial, Inc.)

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The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it the Secured Party to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: International Security Agreement (Natco Group Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party and the Creditors hereunder are solely to protect its their interest in the Collateral and shall not impose any duty upon it the Secured Party or any Creditor to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, neither the Secured Party nor any Creditor shall have no any duty as to any D-9 158 Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Petroleum Helicopters Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party and the Creditors hereunder are solely to protect its their interest in the Collateral and shall not impose any duty upon it the Secured Party or any Creditor to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, neither the Secured Party nor any Creditor shall have no any duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Petroleum Helicopters Inc)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Ampex Corp /De/)

The Secured Party’s Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Collateral in its possession and possession, the accounting for moneys actually received by it hereunderhereunder and as otherwise provided by law, the Secured Party shall have no duty as to any Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Ampex Corp /De/)

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