Common use of Limitation on Duties Regarding Preservation of Collateral Clause in Contracts

Limitation on Duties Regarding Preservation of Collateral. Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender deals with similar property for its own account. Neither Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower or otherwise.

Appears in 4 contracts

Sources: CMBS Loan Agreement (Capital Trust Inc), Master Loan and Security Agreement (Capital Trust), CMBS Loan Agreement (Capital Trust)

Limitation on Duties Regarding Preservation of Collateral. Lender's Buyer’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to require the Indenture Trustee to deal with it in the same manner as Lender the Indenture Trustee deals with similar property for its own account. Neither Lender Buyer nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower Pledgor or otherwise.

Appears in 4 contracts

Sources: Subordination, Acknowledgment and Pledge Agreement, Subordination, Acknowledgment and Pledge Agreement (PennyMac Mortgage Investment Trust), Subordination, Acknowledgment and Pledge Agreement (Pennymac Financial Services, Inc.)

Limitation on Duties Regarding Preservation of Collateral. LenderThe Trustee's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender the Trustee deals with similar property for its own account. Neither Lender the Trustee, any Noteholder, nor any of its their respective directors, officers officers, employees or employees agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower the Company or otherwiseany other Person.

Appears in 3 contracts

Sources: Copyright Security Agreement (RBX Corp), Trademark Security Agreement (RBX Corp), Patent Security Agreement (RBX Corp)

Limitation on Duties Regarding Preservation of Collateral. Lender's The Purchasers’ sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender deals the Purchasers deal with similar property for its their own account. Neither Lender the Purchasers nor any of its their directors, officers officers, employees or employees agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower the Company or otherwise.

Appears in 2 contracts

Sources: Security Agreement (Driftwood Ventures, Inc.), Security Agreement (Driftwood Ventures, Inc.)

Limitation on Duties Regarding Preservation of Collateral. Lender's ’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender deals with similar property for its own account. Neither Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower Pledgor or otherwise.

Appears in 2 contracts

Sources: Security and Subordination Agreement (PennyMac Mortgage Investment Trust), Security and Subordination Agreement (PennyMac Mortgage Investment Trust)

Limitation on Duties Regarding Preservation of Collateral. LenderThe Agent's --------------------------------------------------------- duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender the Agent deals with similar property for its own account. Neither Lender the Agent nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower the Note Issuer or otherwise.

Appears in 1 contract

Sources: Committed Note Purchase and Security Agreement (New Century Financial Corp)

Limitation on Duties Regarding Preservation of Collateral. The --------------------------------------------------------- Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Lender deals with similar property for its own account. Neither the Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Borrower or otherwise.

Appears in 1 contract

Sources: Master Loan and Security Agreement (Franchise Mortgage Acceptance Co)

Limitation on Duties Regarding Preservation of Collateral. Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender deals with similar property for its own account. Neither Subject to the immediately preceding sentence, neither Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower or otherwise.

Appears in 1 contract

Sources: Master Loan and Security Agreement (Ares Commercial Real Estate Corp)

Limitation on Duties Regarding Preservation of Collateral. LenderThe Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender the Agent deals with similar property for its own account. Neither Lender None of the Agent, GE Capital and any Lender, nor any of its their respective directors, officers officers, employees or employees agents shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Borrower or otherwise.

Appears in 1 contract

Sources: Security Agreement (Cogen Technologies Inc)

Limitation on Duties Regarding Preservation of Collateral. Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender deals with similar property for its own account. Neither Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower Borrowers or otherwise.

Appears in 1 contract

Sources: Master Loan and Security Agreement (Capital Trust Inc)

Limitation on Duties Regarding Preservation of Collateral. LenderThe Trustee's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender the Trustee deals with similar property for its own account. Neither Lender None of the Trustee, any Holder, nor any of its their respective directors, officers officers, employees or employees trustees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower any Pledgor or otherwiseany other Person.

Appears in 1 contract

Sources: Indenture (Mounger Corp)

Limitation on Duties Regarding Preservation of Collateral. The Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, whether arising under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Lender deals with similar property for its own account. Neither the Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Borrower or otherwise.

Appears in 1 contract

Sources: Master Loan and Security Agreement (American Business Financial Services Inc /De/)

Limitation on Duties Regarding Preservation of Collateral. The --------------------------------------------------------- Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Lender deals with similar property for its own account. Neither the Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower the Borrowers or otherwise.

Appears in 1 contract

Sources: Master Loan and Security Agreement (New Century Financial Corp)

Limitation on Duties Regarding Preservation of Collateral. Lender's Buyer’s duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as Lender Buyer deals with similar property for its own account. Neither Lender Buyer nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Borrower Pledgor or otherwise.

Appears in 1 contract

Sources: Security and Subordination Agreement (PennyMac Mortgage Investment Trust)