Common use of Care and Custody Clause in Contracts

Care and Custody. The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Cash Collateral if the Cash Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own property, it being understood that, assuming such treatment, the Administrative Agent and the Banks shall not have any responsibility or liability with respect thereto.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Erp Operating LTD Partnership), Revolving Credit Agreement (Erp Operating LTD Partnership), Revolving Credit Agreement (Erp Operating LTD Partnership)