Common use of Protection of Agent’s Security Clause in Contracts

Protection of Agent’s Security. The Assignor will do nothing to impair the security interest granted herein to the Agent in the Collateral. The Assignor assumes all liability and responsibility in connection with the Collateral and the liability of the Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that any Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to the Assignor.

Protection of Agent’s Security. The Each Assignor will do nothing to impair the security interest granted herein to rights of the Agent in the Collateral. The Each Assignor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of the such Assignor to pay the Obligations shall in no way be affected or diminished by reason of the fact that any such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to the such Assignor.