Common use of Reasonable Care Clause in Contracts

Reasonable Care. The Administrative Agent is required to use reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 20 contracts

Sources: Security Agreement (Vivint Smart Home, Inc.), Security Agreement, Security Agreement

Reasonable Care. The Administrative Agent is required shall be deemed to use have exercised reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that possession if the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar equal to that which the Administrative Agent accords its own propertyProperty.

Appears in 16 contracts

Sources: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Security Agreement (Berry Petroleum Corp)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that however, the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as the Pledgor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Event of Default, but failure of the Administrative Agent accords its own propertyto comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 11 contracts

Sources: Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Forest Oil Corp)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that however, the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as the Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Event of Default, but failure of the Administrative Agent accords its own propertyto comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 9 contracts

Sources: Credit Agreement (Dri I Inc), Credit Agreement (Wilson Greatbatch Technologies Inc), Security Agreement (Pasta Group L L C)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 7 contracts

Sources: Pledge and Security Agreement (CF Industries Holdings, Inc.), Revolving Credit Agreement (CF Industries Holdings, Inc.), Pledge and Security Agreement (CF Industries Holdings, Inc.)

Reasonable Care. The Administrative Agent is required to use reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 6 contracts

Sources: First Lien Credit Agreement (Option Care Health, Inc.), Credit Agreement (CorePoint Lodging Inc.), First Lien Credit Agreement (Option Care Health, Inc.)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as each Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Specified Default, but failure of the Administrative Agent accords its own propertyto comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 5 contracts

Sources: Credit Agreement (Kofax LTD), Credit Agreement (Sabre Industries, Inc.), Pledge and Security Agreement (Ferro Corp)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that however, the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as any Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Event of Default, but failure of the Administrative Agent accords its own propertyto comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 5 contracts

Sources: Partnership Security Agreement (Dri I Inc), Credit Agreement (Dri I Inc), Credit Agreement (Titan Corp)

Reasonable Care. The Administrative Agent is required agrees to use reasonable care in the custody and preservation of any of the Collateral in its possessionpossession in accordance with Section 9-207 of the U.C.C.; provided, that (a) the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, Collateral in its possession if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property, and (b) it is understood that the Administrative Agent shall have no responsibility for taking any necessary steps to preserve rights against prior parties with respect to the Collateral.

Appears in 4 contracts

Sources: Pledge Agreement (Sterling Chemicals Inc), Security Agreement (Sterling Chemicals Inc), Security Agreement (Sterling Chemical Inc)

Reasonable Care. The Administrative Agent is required to use reasonable care in the custody and preservation of any of the Pledged Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Pledged Collateral, if such Pledged Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 2 contracts

Sources: Credit Agreement (Quintiles Transnational Holdings Inc.), Credit Agreement (Campbell Alliance Group Inc)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 2 contracts

Sources: Credit Agreement (CC Media Holdings Inc), Credit Agreement (Clear Channel Communications Inc)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar equal to that which the Administrative Agent accords its own property.

Appears in 2 contracts

Sources: Credit Agreement (Caris Life Sciences, Inc.), Credit Agreement (Caris Life Sciences, Inc.)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as the Guarantor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Event of Default, but failure of the Administrative Agent accords its own propertyto comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 1 contract

Sources: Parent Guaranty and Pledge Agreement (Reddy Ice Holdings Inc)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that and the Administrative Agent shall be deemed to have used exercised such reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar equivalent to that which the Administrative Agent accords its own propertyproperty of the type of which the relevant Collateral consists.

Appears in 1 contract

Sources: Credit Agreement (Wiley John & Sons Inc)

Reasonable Care. The Administrative Agent is required shall be deemed to use have exercised reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, possession if such Collateral is accorded treatment substantially similar equal to that which the Administrative Agent accords its own property.

Appears in 1 contract

Sources: Credit Agreement (Medidata Solutions, Inc.)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Pledged Collateral in its possession; provided, that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Pledged Collateral, if such Pledged Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 1 contract

Sources: Credit Agreement (Clear Channel Communications Inc)

Reasonable Care. The Administrative Agent is required to use reasonable care in the custody and preservation of any of the Collateral in its possession; providedprovid- ed, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.

Appears in 1 contract

Sources: Security Agreement (APX Group Holdings, Inc.)

Reasonable Care. The Administrative Agent is required administrative agent shall be deemed to use have exercised reasonable care in the custody and preservation of any of the Collateral collateral in its possession; provided, that possession if the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral collateral is accorded treatment substantially similar equal to that which the Administrative Agent administrative agent accords its own property.

Appears in 1 contract

Sources: Subordinated Credit Agreement (Cano Petroleum, Inc)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, however, that the Administrative Agent shall be deemed to have used reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar to that which the Administrative Agent accords its own property.exercised reasonable

Appears in 1 contract

Sources: Fixed Assets Secured Parties Security Agreement (Sterling Chemical Inc)

Reasonable Care. The Administrative Agent is required shall be deemed to use have exercised reasonable care in the custody and preservation of any of the Pledged Collateral in its possession; provided, that possession unless the Administrative Agent shall be deemed to have used reasonable care is grossly negligent in the custody and preservation of the Pledged Collateral; provided however, the Administrative Agent shall not have any responsibility for ascertaining or taking action or preserving any rights with respect to prior parties or calls, conversions, exchanges, maturities, tenders or other matters relative to any of the Collateral, if such Pledged Collateral is accorded treatment substantially similar to that which whether or not the Administrative Agent accords its own propertyhas or is deemed to have knowledge of such matters.

Appears in 1 contract

Sources: Share Pledge Agreement (Allegiant Travel CO)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, provided that the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if such Collateral is accorded treatment substantially similar equal to that which the Administrative Agent accords its own property.

Appears in 1 contract

Sources: Pledge and Security Agreement (Myriad Genetics Inc)

Reasonable Care. The Administrative Agent is required to use exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, that however, the Administrative Agent shall be deemed to have used exercised reasonable care in the custody and preservation of any of the Collateral, if it takes such Collateral is accorded treatment substantially similar to action for that which purpose as the Administrative Agent accords its own property.Pledgor reasonably requests in writing at times other than upon the occurrence and during the continuance of any Event of

Appears in 1 contract

Sources: Pledge Agreement (Pasta Group L L C)