Release of Collateral, etc. The obligations of Pledgor hereunder shall not be affected by the release or substitution of any Collateral or by the release of or any renewal or extensions of time to any party to any instrument, obligation or liability secured hereby. Bank shall not be bound to resort to or exhaust its recourse or to take any action against other parties or other collateral. Beyond the exercise of reasonable care to assure the safe custody of the Collateral while held hereunder, Bank shall have no duty or liability to preserve rights pertaining thereto and shall be relieved of all responsibility for the Collateral upon surrendering it or tendering surrender of it to Pledgor.
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Sources: Pledge Agreement (Imagex Com Inc)
Release of Collateral, etc. The obligations of Pledgor hereunder shall not be affected by the release or substitution of any Collateral or by the release of or any renewal or extensions of time to any party to any instrument, obligation or liability secured hereby. Bank Pledgee shall not be bound to resort to or exhaust its recourse or to take any action against other parties or other collateral. Beyond the exercise of reasonable care to assure the safe custody of the Collateral while held hereunder, Bank Pledgee shall have no duty or liability to preserve rights pertaining thereto and shall be relieved of all responsibility for the Collateral upon surrendering it or tendering surrender of it to Pledgor.
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