Agent’s Liability for Collateral. So long as the Agent and Lenders comply with reasonable banking practices regarding the safekeeping of Collateral, the Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 2 contracts
Sources: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.), Loan and Security Agreement (3PAR Inc.)
Agent’s Liability for Collateral. So long as the Agent Agents and Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral, the Agent Agents and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 2 contracts
Sources: Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp)
Agent’s Liability for Collateral. So long as the Agent and Lenders comply with reasonable banking practices regarding the safekeeping of Collateral, the Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Subject to the preceding sentence, Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract
Sources: Loan and Security Agreement (Inspire Pharmaceuticals Inc)
Agent’s Liability for Collateral. So long as the Agent and Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral, the Administrative Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract
Agent’s Liability for Collateral. So long as the Agent and Lenders comply with reasonable banking commercial lending practices regarding the safekeeping of Collateral, the Agent and Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract
Sources: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)
Agent’s Liability for Collateral. So long as the Agent Agents and Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral, the Agent and neither Agents nor Lenders shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.
Appears in 1 contract