Common use of Reasonable Care Clause in Contracts

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 11 contracts

Sources: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Isramco Inc), Credit Agreement (Holly Energy Partners Lp)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall have no responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 3 contracts

Sources: Subordinated Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Stock Pledge Agreement (Accentia Biopharmaceuticals Inc), Stock Pledge Agreement (Accentia Biopharmaceuticals Inc)

Reasonable Care. The Secured Party shall in all events (and without restriction on the limitations on liability of the Secured Party contained herein) be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Pledge Agreement (Tracinda Corp), Pledge Agreement (Tracinda Corp)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal equivalent to that which the Secured Party accords its own propertyproperty of the type of which the Collateral consists, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged CollateralCollateral absent its gross negligence or willful misconduct.

Appears in 2 contracts

Sources: Pledge Agreement (MBC Funding Ii Corp.), Pledge Agreement (MBC Funding Ii Corp.)

Reasonable Care. The Secured Party shall be deemed to have exercised --------------- reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of any such mattersmatter, or (b) taking any necessary steps to preserve rights against any parties person with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Loan and Security Agreement (Keynote Systems Inc), Loan and Security Agreement (At Home Corp)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal equivalent to that which the Secured Party Party, in its individual capacity, accords its own propertyproperty consisting of negotiable securities, it being understood that the Secured Party shall have no responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not unless the Secured Party has or is deemed to have knowledge received written notice of such matters, or (bii) taking any necessary steps (other than steps taken in accordance with the standard of care set forth above to maintain possession of the Pledged Shares) to preserve rights against any parties person with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Pledge Security Agreement (Lobozzo Joseph M Ii Et Al), Pledge Security Agreement (Delta Computec Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to maturities, calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Note Purchase and Private Shelf Agreement (Wd 40 Co), Pledge Agreement (Svi Holdings Inc)

Reasonable Care. The Secured Party shall be deemed to --------------- have exercised reasonable care in the custody and preservation of the any Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tender offers or other matters relative to any of the Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties entity with respect to any of the Pledged Collateral.

Appears in 2 contracts

Sources: Note Pledge Agreement (Al Industrier As), Share Pledge Agreement (Al Industrier As)

Reasonable Care. The Secured Party shall be deemed to have --------------- exercised reasonable care in the custody and preservation of the any Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tender offers or other matters relative to any of the Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties entity with respect to any of the Pledged Collateral.

Appears in 2 contracts

Sources: Securities Pledge Agreement (A L Industrier As), Securities Pledge Agreement (A L Industrier As)

Reasonable Care. The Secured Party Parties shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its their possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its Parties accord their own property, it being understood that the Secured Party Parties shall not have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has Parties have or is are deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 2 contracts

Sources: Pledge Agreement (Eweson Dorothy D), Pledge Agreement (Thorn Tree Resources L L C)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its it’s possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party it accords its own property, it being understood that neither the Secured Party shall have no responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any of the Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties with respect to any of the Pledged Collateral.

Appears in 1 contract

Sources: Stock Purchase and Stockholder Agreement (Healthextras Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Asset Purchase Agreement (Planetout Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood that the Secured Party shall have no responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge Agreement (Cinedigm Corp.)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Security Agreement (Bunge LTD)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral, or (iii) any act which does not constitute gross negligence.

Appears in 1 contract

Sources: Pledge Agreement (Sf Holdings Group Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Stock Purchase Agreement

Reasonable Care. The Secured Party shall be deemed to have exercised --------------- reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Credit Agreement (American General Hospitality Corp)

Reasonable Care. The Secured Party shall be deemed to have --------------- exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge and Security Agreement (Kern Jerome H)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for for: (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of any such mattersmatter, or (bii) taking any necessary steps to preserve rights against any parties person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Loan and Security Agreement (Keynote Systems Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (a) ascertaining or taking action with respect to maturities, calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge and Security Agreement (Principal Solar, Inc.)

Reasonable Care. The Secured Party shall be deemed to have exercised --------------- reasonable care in the custody and the preservation of the Pledged Collateral in its Secured Party's possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its Secured Party's own property, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to callscosts, conversions, exchangeschanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge and Security Agreement (Columbus Realty Trust)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own propertyproperty which constitutes negotiable securities, it being understood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of any such mattersmatter, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge Agreement (Covad Communications Group Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal equivalent to that which the Secured Party accords its own propertyproperty of the type of which the Collateral consists, it being understood that the Secured Party shall have no responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge and Security Agreement (MedPro Safety Products, Inc.)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for for: (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of any such mattersmatter, or (b) taking any necessary steps to preserve rights against any parties person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Loan and Security Agreement (Onsale Inc)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property, it being understood that the Secured Party shall not have no any responsibility for (a) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (b) taking any necessary steps to preserve rights against any parties with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge and Security Agreement (Cross Continent Auto Retailers Inc M&l)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which the Secured Party accords its own propertyproperty of a similar nature, it being understood that the Secured Party shall have no responsibility not be responsible for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of any such mattersmatter, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge Agreement (American Mobile Satellite Corp)

Reasonable Care. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal similar to that which the Secured Party accords its own property, it being understood under-stood that the Secured Party shall not have no any responsibility for (ai) ascertaining or taking action with respect to calls, conversionscon- 101 9 versions, exchanges, maturities, tenders, tenders or other matters relative to any Pledged Collateral, whether or not the Secured Party has or is deemed to have knowledge of such matters, or (bii) taking any necessary steps to preserve rights against any parties Person with respect to any Pledged Collateral.

Appears in 1 contract

Sources: Pledge Agreement (Arlen Corp)