Common use of Liability for Collateral Clause in Contracts

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 4 contracts

Samples: Loan and Security Agreement (Anacor Pharmaceuticals Inc), Loan and Security Agreement (Rib-X Pharmaceuticals, Inc.), Loan and Security Agreement (Anacor Pharmaceuticals, Inc.)

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Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) Borrower bears . Subject to the immediately preceding sentence. Borrowers bear all risk of loss, damage or destruction of the Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Subject to the preceding sentence, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Spectrum Pharmaceuticals Inc), Loan and Security Agreement (Mabvax Therapeutics Holdings, Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Except as provided in the previous sentence, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lombard Medical, Inc.), Loan and Security Agreement (Lombard Medical, Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices and all applicable laws and regulations regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Supernus Pharmaceuticals Inc)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices (which in all cases means in part acting without gross negligence or willful misconduct) regarding the safekeeping of the Collateral in the their possession or under the control of Collateral Agent and/or Lenders, Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (AtriCure, Inc.)

Liability for Collateral. So long as the Administrative Agent, Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Puma Biotechnology, Inc.)

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Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Subject to the foregoing, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Evolus, Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with applicable law and with reasonable banking practices regarding the safekeeping of the Collateral in the their possession or under the control of Collateral Agent and/or Lenders, Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Except as set forth in the preceding sentence, Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Mezzanine Loan and Security Agreement (Grove Collaborative Holdings, Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and and, as applicable, the Lenders, (i) Collateral Agent and the 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; and (ii) . Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Radius Health, Inc.)

Liability for Collateral. So long as Collateral Agent and the Lenders comply with reasonable banking practices and Section 9-207 of the Code regarding the safekeeping of the Collateral in the possession or under the control of Collateral Agent and the Lenders, (i) Collateral Agent and the 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; and (ii) . Borrower bears all risk of loss, damage or destruction of the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (NanoString Technologies Inc)

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