Common use of Custody of Loan Security Clause in Contracts

Custody of Loan Security. Except as provided by applicable law which cannot be waived, you shall not have any duty as to the custody and preservation of the Loan Security, the collection of any part thereof or of any income thereon, or the preservation or exercise of any rights pertaining thereto beyond the use of reasonable care in the custody and physical preservation of any Loan Security in your possession.

Appears in 7 contracts

Samples: Credit Agreement (Enstar Income Growth Program Six a L P), Credit Agreement (Enstar Income Program Iv-2 Lp), Credit Agreement (Enstar Income Growth Program Six B L P)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.