Preservation and Protection of Collateral. 3.1. No Secured Party shall be under any duty or liability with respect to the collection, protection or preservation of the Collateral, or otherwise, beyond the use of reasonable care in the custody and preservation thereof while in its possession.
Appears in 2 contracts
Samples: Stock Pledge Agreement (Salton Inc), Amended and Restated Stock Pledge Agreement (Applica Inc)
Preservation and Protection of Collateral. 3.1. No (a) The Secured Party shall be under any no duty or liability with respect to the collection, protection or preservation of the Collateral, or otherwise, beyond accounting for Collateral delivered to it and any proceeds from the sale thereof and the use of reasonable care in the custody and preservation thereof while in its possession.
Appears in 2 contracts
Samples: Stock Pledge Agreement (Oakhurst Co Inc), Stock Pledge Agreement (Sterling Construction Co Inc)
Preservation and Protection of Collateral. 3.1. No (a) Secured Party shall be under any no duty or liability with respect to the collection, protection or preservation of the Collateral, or otherwise, beyond the use of reasonable care in the custody and preservation thereof while in its possession.
Appears in 1 contract
Samples: Pledge Agreement (Merlin Software Technologies International Inc)
