Common use of Duties of Secured Party Clause in Contracts

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 28 contracts

Samples: Pledge Agreement (Lytus Technologies Holdings PTV. Ltd.), Pledge Agreement (Crown Media Holdings Inc), Pledge Agreement (Kronos Inc)

AutoNDA by SimpleDocs

Duties of Secured Party. The powers conferred on upon Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for money actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 11 contracts

Samples: Pledge and Security Agreement (Smith Jack T), Pledge and Security Agreement (Mobility Electronics Inc), Pledge Agreement (Boundless Motor Sports Racing Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 9207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 9 contracts

Samples: Stock Pledge Agreement (National Media Corp), Loan and Security Agreement (Network Computing Devices Inc), Stock Pledge Agreement (National Media Corp)

Duties of Secured Party. The powers conferred on upon ----------------------- Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for money actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 8 contracts

Samples: Restricted Stock Agreement (Encore Medical Corp), Restricted Stock Agreement (Encore Medical Corp), Restricted Stock Agreement (Encore Medical Corp)

Duties of Secured Party. The powers conferred on upon Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for money or other property actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 3 contracts

Samples: Newsearch Pledge Agreement (Search Capital Group Inc), Search Pledge Agreement (Search Capital Group Inc), Achi Pledge Agreement (Search Capital Group Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.duty

Appears in 2 contracts

Samples: Stock Pledge Agreement (Family Restaurants), Stock Pledge Agreement (Family Restaurants)

Duties of Secured Party. The powers conferred on Secured Party Party, for the benefit of the Lender Group, hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 9207 of the CodeUCC, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 2 contracts

Samples: Financing Agreement (Gart Sports Co), Financing Agreement (Sports Authority Inc /De/)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect as to the collection or protection of the Collateral or any responsibility for taking any necessary steps income thereon, nor as to preserve the preservation of rights against prior parties, nor as to the preservation of any Persons with respect to any Collateralrights pertaining thereto beyond the safe custody thereof.

Appears in 2 contracts

Samples: Junior Subordinated (Pw Eagle Inc), Senior Subordinated (Pw Eagle Inc)

Duties of Secured Party. The powers conferred on Secured Party Party, for ----------------------- the benefit of the Lender Group, hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 9207 of the CodeUCC, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Gart Sports Co), Stock Pledge Agreement (Gart Sports Co)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any CollateralXxxxxxxxxx.

Appears in 2 contracts

Samples: Springing Equity Pledge Agreement, Pledge Agreement (Tri-S Security Corp)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon Secured Party to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of Secured Party’s possession and the Codeaccounting for monies actually received by Secured Party hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 2 contracts

Samples: Security Agreement (SRS Labs Inc), Security Agreement (Seracare Life Sciences Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, the Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons persons with respect to any Collateral.

Appears in 1 contract

Samples: Stock Pledge Agreement (National Storm Management Inc.)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons Person with respect to any Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Eastern Resources, Inc.)

Duties of Secured Party. The powers conferred on Secured Party ----------------------- hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Western Goldfields Inc)

Duties of Secured Party. The powers conferred on upon Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for money actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights ----------------------- pertaining to any Collateral.

Appears in 1 contract

Samples: Assignment and Security Agreement (Prime Medical Services Inc /Tx/)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Pledged Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Pledged Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Pledged Collateral.

Appears in 1 contract

Samples: Stock Pledge Agreement (Elgar Holdings Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon Secured Party to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of Secured Party's possession and the Codeaccounting for monies actually received by Secured Party hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Communication Telesystems International)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Pledged Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Pledged Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (ADS Securities LLC)

AutoNDA by SimpleDocs

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided Beyond the exercise of reasonable care in Section 9-207 the custody and preservation of Collateral in its possession, the Code, Secured Party shall have no duty with respect to collect, preserve or protect the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateralprior parties.

Appears in 1 contract

Samples: Mortgage Warehousing Agreement (Intuit Inc)

Duties of Secured Party. The powers conferred on Secured Party for the benefit of the Lender Group hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 9207 of the Code, Secured Party the Lender Group shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Star Telecommunications Inc)

Duties of Secured Party. The powers conferred on the Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, the Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons other persons with respect to any Collateral.

Appears in 1 contract

Samples: Escrow and Stock Pledge Agreement (Luminent Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty upon it to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against any Persons with respect prior parties or against other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Security Agreement (Patron Systems Inc)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its Secured Party’s interests in the Collateral and shall not impose on it Secured Party any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons persons with respect to any Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Bireme LTD)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its his interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall not have no any duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Ssgi, Inc.)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any CollateralCoxxxxxxxx.

Appears in 1 contract

Samples: Springing Equity Pledge Agreement (Aspirity Holdings LLC)

Duties of Secured Party. The powers conferred confetTed on Secured Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for monies actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights any right of or against any Persons with respect other parties pertaining to any CollateralCollateral . 12.

Appears in 1 contract

Samples: Settlement Agreement

Duties of Secured Party. The powers conferred on upon Secured ----------------------- Party hereunder are solely to protect its interests interest in the Collateral and shall not impose on it any duty upon it to exercise any such powers. Except as provided for the safe custody of any Collateral in Section 9-207 of its possession and the Codeaccounting for money actually received by it hereunder, Secured Party shall have no duty with respect as to any Collateral or as to the Collateral or any responsibility for taking of any necessary steps to preserve rights against prior parties or any Persons with respect other rights pertaining to any Collateral.

Appears in 1 contract

Samples: Restricted Stock Agreement (Encore Medical Corp)

Duties of Secured Party. The powers conferred on Secured Party hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons persons with respect to any Collateral.

Appears in 1 contract

Samples: Pledge and Security Agreement (Gold Banc Corp Inc)

Duties of Secured Party. The powers conferred on Secured Party ----------------------- hereunder are solely to protect its interests in the Collateral and shall not impose on it any duty to exercise such powers. Except as provided in Section 9-9- 207 of the Code, Secured Party shall have no duty with respect to the Collateral or any responsibility for taking any necessary steps to preserve rights against any Persons with respect to any Collateral.

Appears in 1 contract

Samples: Security Agreement (QMS Inc)

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