No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 6 contracts
Samples: Revolving Note and Credit Agreement Modification Agreement (International Baler Corp), Security Agreement (Precision Optics Corporation, Inc.), Subordinated Loan Agreement (Rurbanc Data Services Inc)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 4 contracts
Samples: Security Agreement (Stran & Company, Inc.), Security Agreement (Janel Corp), Security Agreement (Converted Organics Inc.)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 4 contracts
Samples: Security Agreement, Security Agreement (Uluru Inc.), Security Agreement (Uluru Inc.)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 4 contracts
Samples: Loan and Security Agreement (IEG Holdings Corp), Loan and Security Agreement (Planetout Inc), Security Agreement (Axion International Holdings, Inc.)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall do not impose any duty upon it to exercise any such powers. The Lender shall will be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Security Agreement (Advanced BioEnergy, LLC), Security Agreement (Great Plains Ethanol LLC), Security Agreement (Golden Grain Energy)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Grantor for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Security Agreement (Ecoark Holdings, Inc.), Security Agreement (Mod Pac Corp), Security Agreement (Pinnacle Data Systems Inc)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Guarantor for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 3 contracts
Samples: Security Agreement (Lydall Inc /De/), Security Agreement (Lydall Inc /De/), Security Agreement (Lydall Inc /De/)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company or any Guarantor for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Security Agreement (Pc Ephone Inc), Security Agreement (Pc Ephone Inc)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Guarantor for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 2 contracts
Samples: Security Agreement (Converted Organics Inc.), Security Agreement (Converted Organics Inc.)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall do not impose any duty upon it to exercise any such powers. The Lender shall will be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not not: (a) impose any duty upon it to exercise any such powers; or (b) provide any additional powers except as specifically provided herein. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's or agents’ own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Security Agreement (Microfluidics International Corp)
No Duty on Lender. The powers conferred on the Lender hereunder are is solely to protect its the Lender's interests in the Collateral and shall do not impose any duty upon it the Lender to exercise any such powers. The Lender shall will be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall will be responsible to the Company Borrower for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Debtor for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 1 contract
Samples: Security Agreement (K-Sea Transportation Partners Lp)
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Guarantor for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct. 15.
Appears in 1 contract
Samples: Security Agreement
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its the interests of the Lender in the Collateral and shall not impose any duty upon it the Lender to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's ’s own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder ----------------- are solely to protect its the interests of the Lender in the Collateral and shall not impose any duty upon it the Lender to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are is solely to protect its the Lender's interests in the Collateral and shall do not impose any duty upon it the Lender to exercise any such powers. The Lender shall will be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall will be responsible to the Company Guarantor for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers powers, and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
No Duty on Lender. The powers conferred on the Lender hereunder are solely to protect its interests in the Collateral and shall not impose any duty upon it to exercise any such powers. The Lender shall be accountable only for the amounts that it actually receives as a result of the exercise of such powers and neither it nor any of its officers, directors, employees or agents shall be responsible to the Company Borrower for any act or failure to act, except for the Lender's own gross negligence or willful misconduct.
Appears in 1 contract
