Common use of Limitation on Duties Regarding Preservation of Collateral Clause in Contracts

Limitation on Duties Regarding Preservation of Collateral. The sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will be to deal with it in the same manner as Secured Party deals with similar property for its own account. Neither Secured Party nor any of its employees, affiliates or agents will be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor or otherwise.

Appears in 5 contracts

Samples: Security Agreement (Medite Cancer Diagnostics, Inc.), Security Agreement (Youngevity International, Inc.), Security Agreement (Medite Cancer Diagnostics, Inc.)

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Limitation on Duties Regarding Preservation of Collateral. The sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will be to deal with it in the same manner as Secured Party deals with similar property for its own account. Neither Secured Party nor any of its employees, affiliates or agents will be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor Debtor or otherwise.

Appears in 4 contracts

Samples: Line of Credit Agreement (Boxlight Corp), Security Agreement (Protea Biosciences Group, Inc.), Security Agreement (Siricomm Inc)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will be to deal with it in the same manner as Secured Party deals with similar property for its own account. Neither Secured Party nor any of its employees, affiliates or agents will be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor Pledgors or otherwise.

Appears in 2 contracts

Samples: Security Agreement (Youngevity International, Inc.), Security Agreement (Redwood Scientific Technologies, Inc.)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of the Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will shall be to deal with it in the same manner as such Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its employeesdirectors, affiliates officers, employees or agents will shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor the Debtor or otherwise.

Appears in 2 contracts

Samples: Security Agreement (Positron Corp), Security Agreement (Positron Corp)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of a Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will Collateral shall be to deal with it in the same manner as such Secured Party deals with similar property for its own account. Neither the Secured Party Parties nor any of its employeestheir directors, affiliates officers, employees or agents will shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (United Cannabis Corp)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will be to deal with it in the same manner as Secured Party deals with similar property for its own account. Neither Secured Party nor any of its employees, affiliates or agents will be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Company or Pledgor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Youngevity International, Inc.)

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Limitation on Duties Regarding Preservation of Collateral. The Secured Party’s sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will Collateral shall be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither the Secured Party nor any of its employeesdirectors, affiliates officers, employees or agents will shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor any Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Netfabric Holdings, Inc)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under the appropriate Code section or otherwise, will be to deal with it in the same manner as Secured Party deals with similar property for its own account. Neither Secured Party nor any of its employees, affiliates or agents will be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor the Company or otherwise. 9.

Appears in 1 contract

Samples: Security Agreement (BioCorRx Inc.)

Limitation on Duties Regarding Preservation of Collateral. The sole duty of the Secured Party with respect to the custody, safekeeping and preservation of the Collateral, under Section 9207 of the appropriate Code section or otherwise, will be to deal with it in the same manner as the Secured Party deals with similar property for its own account. Neither The Secured Party nor any of its employees, affiliates or agents will not be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or will be under any obligation to sell or otherwise dispose of any Collateral upon the request of Pledgor the Debtor or otherwise.

Appears in 1 contract

Samples: Security Agreement (Ocz Technology Group Inc)

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