Common use of Preservation of the Collateral Clause in Contracts

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor shall reasonably request in writing which is not inconsistent with Secured Party's status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor represents to, and covenants with, Secured Party that Grantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor agrees that Secured Party shall have no responsibility or liability for informing Grantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 25 contracts

Samples: Security Agreement (Hypertension Diagnostics Inc /Mn), Security Agreement (Pharmagen, Inc.), Security Agreement (Sunpeaks Ventures, Inc.)

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Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorDebtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor Debtor represents to, and covenants with, Secured Party that Grantor Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 14 contracts

Samples: Security Agreement (Tarsier Ltd.), Security Agreement (Grow Solutions Holdings, Inc.), Credit Agreement (Poet Technologies Inc.)

Preservation of the Collateral. Secured Party The Bank may, but is not required torequired, to take such actions from time to time as Secured Party reasonably the Bank deems appropriate to maintain or protect the Collateral. Secured Party The Bank shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Bank takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Bank’s status as a secured party, but the failure of Secured Party the Bank to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Bank’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Bank accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Bank, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Bank to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Bank in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Bank that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Bank shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 9 contracts

Samples: Loan and Security Agreement (Rhapsody Acquisition Corp.), Loan and Security Agreement (Parlux Fragrances Inc), Loan and Security Agreement (Primoris Services CORP)

Preservation of the Collateral. Secured Party The Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lender, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 6 contracts

Samples: Loan and Security Agreement (Venus Concept Inc.), Loan Agreement (Golden Minerals Co), And Security Agreement (Millennium Ethanol, LLC)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor any Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantora Debtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Each Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor each Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor each Debtor represents to, and covenants with, Secured Party that Grantor each Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor any Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 6 contracts

Samples: Security Agreement (Integrated Energy Solutions, Inc.), Security Agreement (Grow Solutions Holdings, Inc.), Security Agreement (Pulse Network, Inc.)

Preservation of the Collateral. Secured Party Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably Lender deems appropriate to maintain or protect the Collateral. Secured Party Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party Lender takes such action as Grantor Borrowers shall reasonably request in writing which is not inconsistent with Secured Party's Lender’s status as a secured party, but the failure of Secured Party Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party Lender accords its own property, and (ii) not extend to matters beyond the control of Secured PartyLender, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorBorrowers, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Borrowers shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Borrowers and Secured Party Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor each Borrower represents to, and covenants with, Secured Party Lender that Grantor such Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Borrower agrees that Secured Party Lender shall have no responsibility or liability for informing Grantor such Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 5 contracts

Samples: Loan and Security Agreement (Adcare Health Systems, Inc), Loan and Security Agreement (BG Staffing, Inc.), Loan and Security Agreement (Adcare Health Systems Inc)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor any Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantora Debtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Each Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor such Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor each Debtor represents to, and covenants with, Secured Party that Grantor such Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor such Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 4 contracts

Samples: Security Agreement (M Line Holdings Inc), Security Agreement (T.O Entertainment, Inc.), Security Agreement (Wild Craze, Inc.)

Preservation of the Collateral. Secured Party The Lender may, but is not required to, take such actions action from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (iib) not extend to matters beyond the reasonable control of Secured Partythe Lender, including including, without limitation, acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against claims of prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including including, but not limited to, rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 3 contracts

Samples: Loan and Security Agreement (Flux Power Holdings, Inc.), Loan and Security Agreement (Polar Power, Inc.), Loan and Security Agreement (Chromcraft Revington Inc)

Preservation of the Collateral. The Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. The Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor each Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorsuch Debtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Each Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor such Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor each Debtor represents to, and covenants with, Secured Party that Grantor such Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor such Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 2 contracts

Samples: Security Agreement (National Automation Services Inc), Security Agreement (National Automation Services Inc)

Preservation of the Collateral. Secured Party The Lender may, but is not required torequired, to take such actions from time to time as Secured Party the Lender reasonably deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lender, including including, without limitation, acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be reasonably necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including including, but not limited to, rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amtech Systems Inc), Loan and Security Agreement (Amtech Systems Inc)

Preservation of the Collateral. Secured Party The Bank may, but is not required to, take such actions from time to time as Secured Party reasonably Bank deems appropriate to maintain or protect the Collateral. Secured Party The Bank shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party Bank takes such action as Grantor Debtor shall reasonably request in writing which is not inconsistent with Secured Party's Bank’s status as a secured party, but the failure of Secured Party Bank to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's Bank’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party Bank accords its own property, and (ii) not extend to matters beyond the control of Secured PartyBank, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party Bank to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorDebtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Debtor and Secured Party Bank in the applicable Collateral against prior or third parties, except the filing of continuation statements for UCC filings on the Collateral. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor Debtor represents to, and covenants with, Secured Party Bank that Grantor Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Debtor agrees that Secured Party Bank shall have no responsibility or liability for informing Grantor Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 2 contracts

Samples: Security Agreement (Inland Residential Properties Trust, Inc.), Security Agreement (Inland Residential Properties Trust, Inc.)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor shall reasonably request in writing which is not inconsistent with Secured Party's status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor shall have the sole responsibility for taking such action action, and hereby agrees to take such action, as may be necessary, from time to time, to preserve all rights of Grantor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor represents to, and covenants with, Secured Party that Grantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor agrees that Secured Party shall have no responsibility or liability for informing Grantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect theretothereto unless required hereunder.

Appears in 2 contracts

Samples: Security Agreement (RiceBran Technologies), Security Agreement (RiceBran Technologies)

Preservation of the Collateral. Secured Party The Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured partypart, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lender, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Millennium Ethanol, LLC)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor a Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantora Debtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Each Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor such Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor each Debtor represents to, and covenants with, Secured Party that Grantor such Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor such Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Pacific Ventures Group, Inc.)

Preservation of the Collateral. The Lender and Secured Party Representative may, but neither is not required torequired, to take such actions from time to time as the Lender or the Secured Party Representative deems reasonably deems appropriate to maintain or protect the Collateral. The Lender and the Secured Party Representative shall have exercised reasonable care in the custody and preservation of the Collateral if the Lender or Secured Party Representative takes such action as Grantor the Guarantor shall reasonably request in writing which is not inconsistent with the Lender's or any Secured Party's ’s status as a secured party, but the failure of the Lender or the Secured Party Representative to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, the Lender's or Secured Party's Party Representative’s responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which the Lender or any Secured Party accords its own property, and (iib) not extend to matters beyond the control of the Lender or Secured PartyParty Representative, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of the Lender or Secured Party Representative to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Guarantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Guarantor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Guarantor, the Lender and each Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Guarantor represents to, and covenants with, the Lender and each Secured Party that Grantor the Guarantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Guarantor agrees that neither Lender, any Secured Party nor the Secured Party Representative shall have no any responsibility or liability for informing Grantor the Guarantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (DJSP Enterprises, Inc.)

Preservation of the Collateral. Any Lender and Secured Party Representative may, but is not required torequired, to take such actions from time to time as such Lender or the Secured Party Representative deems reasonably deems appropriate to maintain or protect the Collateral. Each Lender and the Secured Party Representative shall have exercised reasonable care in the custody and preservation of the Collateral if such Lender or Secured Party Representative takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's any Lender’s status as a secured party, but the failure of any Lender or the Secured Party Representative to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, each Lender’s or Secured Party's Party Representative’s responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party any Lender accords its own property, and (iib) not extend to matters beyond the control of any Lender or Secured PartyParty Representative, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of any Lender or Secured Party Representative to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party each Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party each Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that neither any Lender nor the Secured Party Representative shall have no any responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Senior Loan, Security and Pledge Agreement (DJSP Enterprises, Inc.)

Preservation of the Collateral. Secured Party The Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrowers shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lender, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrowers, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrowers shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor each Borrower represents to, and covenants with, Secured Party the Lender that Grantor each Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor each Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrowers of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Amerinac Holding Corp.)

Preservation of the Collateral. Secured Party The Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrowers shall reasonably request in writing which is not inconsistent with Secured Party's the Lender’s status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's the Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lender, including including, without limitation, acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrowers, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrowers shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrowers and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor represents the Borrowers represent to, and covenants covenant with, Secured Party the Lender that Grantor has the Borrowers have made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including including, but not limited to, rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor agrees the Borrowers agree that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrowers of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Amrep Corp)

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Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor Debtor shall reasonably request in writing which is not inconsistent with Secured Party's status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorDebtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor . Debtor represents to, and covenants with, Secured Party that Grantor Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Wowio, Inc.)

Preservation of the Collateral. The Secured Party may, but is not required torequired, to take such actions from time to time as the Secured Party reasonably deems appropriate to maintain or protect the CollateralCollateral so long as such actions are permitted by applicable law. The Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if the Secured Party takes such action as Grantor the Debtor shall reasonably request in writing which is not inconsistent with the Secured Party's ’s status as a secured party, but the failure of the Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, the Secured Party's ’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, and (ii) not extend to matters beyond the control of the Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of the Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Debtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Debtor and the Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Debtor represents to, and covenants with, the Secured Party that Grantor the Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Debtor agrees that the Secured Party shall have no responsibility or liability for informing Grantor the Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Lattice INC)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor represents to, and covenants with, Secured Party that Grantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor agrees that Secured Party shall have no responsibility or liability for informing Grantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Bitzio, Inc.)

Preservation of the Collateral. Secured Party Lender may, but is not required torequired, to take such actions from time to time as Secured Party reasonably Lender deems appropriate to maintain or protect the Collateral. Secured Party Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party Lender takes such action as Grantor Borrower shall reasonably request in writing which is not inconsistent with Secured Party's Lender’s status as a secured party, but the failure of Secured Party Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party Lender accords its own property, and (ii) not extend to matters beyond the control of Secured PartyLender, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party Lender to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorBorrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Borrower and Secured Party Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor Borrower represents to, and covenants with, Secured Party Lender that Grantor Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Borrower agrees that Secured Party Lender shall have no responsibility or liability for informing Grantor Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Ari Network Services Inc /Wi)

Preservation of the Collateral. The Secured Party Parties may, but is are not required to, take such actions from time to time as the Secured Party Parties reasonably deems appropriate to maintain or protect the Collateral. The Secured Party Parties shall have exercised reasonable care in the custody and preservation of the Collateral if the Secured Party takes Parties take such action as Grantor shall reasonably request in writing which is not inconsistent with the Secured Party's Parties’ status as a secured party, but the failure of the Secured Party Parties to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, howeverhowever , the Secured Party's Parties’ responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which the Secured Party Parties accords its own property, and (ii) not extend to matters beyond the control of the Secured PartyParties, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of the Secured Party Parties to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor and the Secured Party Parties in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor represents to, and covenants with, the Secured Party Parties that Grantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor agrees that the Secured Party Parties shall have no responsibility or liability for informing Grantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Inergetics Inc)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor Debtor shall reasonably request in writing which is not inconsistent with Secured Party's ’s status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's ’s responsibility for the safekeeping of the Collateral shall shall: (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, ; and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorDebtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists consists, in whole or in part part, of Capital Securities, Grantor Debtor represents to, and covenants with, Secured Party that Grantor Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (Pacific Ventures Group, Inc.)

Preservation of the Collateral. Secured Party The Lender may, but is not required to, take such actions action from time to time as Secured Party reasonably the Lender deems appropriate to maintain or protect the Collateral. Secured Party The Lender shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party the Lender takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Partythe Lender's status as a secured party, but the failure of Secured Party the Lender to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Partythe Lender's responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (iib) not extend to matters beyond the reasonable control of Secured Partythe Lender, including including, without limitation, acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lender to preserve or protect any rights with respect to the Collateral against claims of prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lender that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including including, but not limited to, rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lender shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (Dynatronics Corp)

Preservation of the Collateral. The Lender and Secured Party Representative may, but neither is not required torequired, to take such actions from time to time as the Lender or the Secured Party Representative deems reasonably deems appropriate to maintain or protect the Collateral. The Lender and the Secured Party Representative shall have exercised reasonable care in the custody and preservation of the Collateral if the Lender or Secured Party Representative takes such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with the Lender's or any Secured Party's ’s status as a secured party, but the failure of the Lender or the Secured Party Representative to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, the Lender's or Secured Party's Party Representative’s responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which the Lender or any Secured Party accords its own property, and (iib) not extend to matters beyond the control of the Lender or Secured PartyParty Representative, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of the Lender or Secured Party Representative to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower, the Lender and each Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, the Lender and each Secured Party that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that neither Lender, any Secured Party nor the Secured Party Representative shall have no any responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan, Security and Pledge Agreement (DJSP Enterprises, Inc.)

Preservation of the Collateral. Any Lender and Secured Party Representative may, but is are not required torequired, to take such actions from time to time as such Lender or the Secured Party Representative deems reasonably deems appropriate to maintain or protect the Collateral. Each Lender and the Secured Party Representative shall have exercised reasonable care in the custody and preservation of the Collateral if such Lender or Secured Party Representative takes such action as Grantor the Guarantor shall reasonably request in writing which is not inconsistent with Secured Party's any Lender’s status as a secured party, but the failure of any Lender or the Secured Party Representative to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, each Lender’s or Secured Party's Party Representative’s responsibility for the safekeeping of the Collateral shall (ia) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party such Lender accords its own property, and (iib) not extend to matters beyond the control of any Lender or Secured PartyParty Representative, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of any Lender or Secured Party Representative to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Guarantor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Guarantor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Guarantor and Secured Party each Lender in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Guarantor represents to, and covenants with, Secured Party each Lender that Grantor the Guarantor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Guarantor agrees that neither any Lenders nor the Secured Party Representative shall have no any responsibility or liability for informing Grantor the Guarantor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Senior Security Agreement (DJSP Enterprises, Inc.)

Preservation of the Collateral. Secured Party may, but is not required to, take such actions from time to time as Secured Party reasonably deems appropriate to maintain or protect the Collateral. Secured Party shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes such action as Grantor Debtor shall reasonably request in writing which is not inconsistent with Secured Party's status as a secured party, but the failure of Secured Party to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property, and (ii) not extend to matters beyond the control of Secured Party, including acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by GrantorDebtor, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor Debtor shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor Debtor and Secured Party in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securities, Grantor Debtor represents to, and covenants with, Secured Party that Grantor Debtor has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities (including rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor Debtor agrees that Secured Party shall have no responsibility or liability for informing Grantor Debtor of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Security Agreement (TouchIT Technologies, Inc.)

Preservation of the Collateral. Secured Party The Lenders may, but is are not required torequired, to take such actions from time to time as Secured Party reasonably the Administrative Agent deems appropriate to maintain or protect the Collateral. Secured Party The Lenders shall have exercised reasonable care in the custody and preservation of the Collateral if Secured Party takes the Lenders take such action as Grantor the Borrower shall reasonably request in writing which is not inconsistent with Secured Party's the Lenders’ status as a secured party, but the failure of Secured Party the Lenders to comply with any such request shall not be deemed a failure to exercise reasonable care; provided, however, Secured Party's a Lender’s responsibility for the safekeeping of the Collateral shall (i) be deemed reasonable if such Collateral is accorded treatment substantially equal to that which Secured Party the Lender accords its own property, and (ii) not extend to matters beyond the control of Secured Partythe Lenders, including including, without limitation, acts of God, war, insurrection, riot or governmental actions. In addition, any failure of Secured Party the Lenders to preserve or protect any rights with respect to the Collateral against prior or third parties, or to do any act with respect to preservation of the Collateral, not so requested by Grantorthe Borrower, shall not be deemed a failure to exercise reasonable care in the custody or preservation of the Collateral. Grantor The Borrower shall have the sole responsibility for taking such action as may be necessary, from time to time, to preserve all rights of Grantor the Borrower and Secured Party the Lenders in the applicable Collateral against prior or third parties. Without limiting the generality of the foregoing, where Collateral consists in whole or in part of Capital Securitiessecurities, Grantor the Borrower represents to, and covenants with, Secured Party the Lenders that Grantor the Borrower has made arrangements for keeping informed of changes or potential changes affecting the Capital Securities securities (including including, but not limited to, rights to convert or subscribe, payment of dividends, reorganization or other exchanges, tender offers and voting rights), and Grantor the Borrower agrees that Secured Party the Lenders shall have no responsibility or liability for informing Grantor the Borrower of any such or other changes or potential changes or for taking any action or omitting to take any action with respect thereto.

Appears in 1 contract

Samples: Loan and Security Agreement (FC Global Realty Inc)

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