Agent Has No Duty. The powers conferred on the Agent hereunder are solely to protect the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for duties imposed by the U.C.C. upon secured creditors (unless otherwise modified hereby), the Agent and the other Secured Parties shall have no duty as to any Collateral or responsibility for taking any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.
Appears in 3 contracts
Samples: Credit Agreement (Windmere Durable Holdings Inc), Security Agreement Accounts and Inventory (Delta Beverage Group Inc), Credit Agreement (Delta Beverage Group Inc)
Agent Has No Duty. The In addition to, and not in limitation of, SECTION 2.5, the powers conferred on the Agent hereunder are solely to protect its interest (on behalf of the Secured Lender Parties' interest ) in the Collateral and shall not impose any duty upon on it to exercise any such powers. Except for duties imposed reasonable care of any Collateral in its possession and the accounting for moneys actually received by the U.C.C. upon secured creditors (unless otherwise modified hereby)it hereunder, the Agent and the other Secured Parties shall have no duty as to any Collateral or responsibility for as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral.
Appears in 2 contracts
Samples: Guarantor Security Agreement (Key Components LLC), Borrower Security Agreement (Key Components LLC)
Agent Has No Duty. The In addition to, and not in limitation of, SECTION 2.4, the powers conferred on the Agent hereunder are solely to protect its interest (on behalf of the Secured Parties' interest ) in the Collateral and shall not impose any duty upon on it to exercise any such powers. Except for duties imposed reasonable care of any Collateral in its possession and the accounting for moneys actually received by the U.C.C. upon secured creditors (unless otherwise modified hereby)it hereunder, the Agent and the other Secured Parties shall have no duty as to any Collateral or responsibility for 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: Country Trademark Serial No (Leiner Health Products Inc)
Agent Has No Duty. The powers conferred on the Agent hereunder are solely to protect the Secured Parties' interest in the Collateral and shall not impose any duty upon it to exercise any such powers. Except for duties imposed by the U.C.C. upon secured creditors (unless otherwise modified hereby), the Agent and the other Secured Parties shall have no duty as to any Collateral or responsibility for taking any necessary steps to preserve rights against 119 prior parties or any other rights pertaining to any Collateral.
Appears in 1 contract
