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

Samples: Credit Agreement (Mariner Energy Inc), Security Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

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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

Samples: 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 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 3 contracts

Samples: Pledge Agreement (Primeenergy Corp), Pledge Agreement (Primeenergy Corp), Pledge Agreement (Primeenergy 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

Samples: 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 such 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 similar instruments or interests, it being understood that the Secured Party shall not have no responsibility for (ai) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders, tenders or other matters relative relating 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

Samples: Securities Pledge Agreement (Coaxial LLC), Securities Pledge Agreement (Coaxial LLC)

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

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

Reasonable Care. The Secured Party is required to exercise reasonable care in the custody and preservation of any of the Collateral in its possession; provided, however, that the Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any of the Pledged Collateral Collateral, if it takes such action for that purpose as the Grantor reasonably requests in its possession if writing at times other than upon a demand for repayment of all the Pledged Collateral is accorded treatment substantially equal to that which Obligations, but failure of the Secured Party accords its own property, it being understood that to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care. In no event shall 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 obligation to preserve rights against any prior parties with respect to any Pledged of the Collateral.

Appears in 2 contracts

Samples: Security Agreement (Tucows Inc /Pa/), Security Agreement (Tucows Inc /Pa/)

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

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

Samples: Pledge Agreement (A L Industrier As), Pledge Agreement (A L Industrier As)

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

Samples: 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

Samples: Letter Agreement (Delta Computec Inc), Lobozzo Joseph M Ii Et Al

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

Samples: Security Agreement (Wd 40 Co), Pledge Agreement (Svi Holdings Inc)

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

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

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

Samples: 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 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

Samples: Pledge Agreement (Arlen 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 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

Samples: 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 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

Samples: 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 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

Samples: 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 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

Samples: Pledge Agreement (Cinedigm Corp.)

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

Samples: Pledge and Security Agreement (Columbus Realty Trust)

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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 such 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 similar instruments or interests, 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 relating 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

Samples: Form of Pledge Agreement (Gp Strategies 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. 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Onsale 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 1 contract

Samples: 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 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

Samples: Stock Pledge 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 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

Samples: Management 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

Samples: 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 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

Samples: Pledge and Security Agreement (Principal Solar, 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

Samples: 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 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

Samples: 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 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

Samples: 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

Samples: 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 (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

Samples: Security Agreement (Bunge LTD)

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