Common use of Lender’s Obligations and Duties Clause in Contracts

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Company shall remain liable for its obligations under each contract or agreement included in the Collateral. The Lenders shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Lenders of any payment relating to any of the Collateral, nor shall the Lenders be obligated in any manner to perform any of the obligations of the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lenders in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lenders or to which the Lenders may be entitled at any time or times. The Lenders’ sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the NYUCC of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lenders deals with similar property for its own account.

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Company shall remain liable for its obligations under each contract or agreement included in the Collateral. The Lenders Lender shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Lenders Lender of any payment relating to any of the Collateral, nor shall the Lenders Lender be obligated in any manner to perform any of the obligations of the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lenders Lender in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lenders Lender or to which the Lenders Lender may be entitled at any time or times. The Lenders’ Lender’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the NYUCC of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lenders Lender deals with similar property for its own account.

Lender’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Company shall remain liable for its obligations under each contract or agreement included in the Collateral. The Lenders shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Lenders of any payment relating to any of the Collateral, nor shall the Lenders be obligated in any manner to perform any of the obligations of the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Lenders in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Lenders or to which the Lenders may be entitled at any time or times. The Lenders’ sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under §9-207 of the NYUCC of the State or otherwise, shall be to deal with such Collateral in the same manner as the Lenders deals with similar property for its own account.