Common use of Reasonable Care Clause in Contracts

Reasonable Care. The Administrative Agent is required to 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 exercised reasonable care in the custody and preservation of any of the Collateral (a) if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own personal property, or (b) if the Administrative Agent takes such action for that purpose as any Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of an Event of Default; provided, further, that failure of the Administrative Agent to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 18 contracts

Samples: Pledge and Security Agreement (Flotek Industries Inc/Cn/), Assumption Agreement (Energy XXI Gulf Coast, Inc.), Pledge and Security Agreement (NOW Inc.)

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

Appears in 5 contracts

Samples: Pledge Agreement (Fibernet Telecom Group Inc\), Telecom Pledge Agreement (Fibernet Telecom Group Inc\), Pledge Agreement (Fibernet Telecom Group Inc\)

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

Appears in 5 contracts

Samples: Pledge Agreement (Fibernet Telecom Group Inc\), Parent Pledge Agreement (Fibernet Telecom Group Inc\), Pledge Agreement (Fibernet Telecom Group Inc\)

Reasonable Care. The Administrative Agent is required to 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 exercised reasonable care in the custody and preservation of any of the Collateral (a) if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own personal property, or (b) if the Administrative Agent takes such action for that purpose as any Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of an Event of Default; provided, further, that failure of the Administrative Agent to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.. Exhibit G – Form of Pledge and Security Agreement

Appears in 3 contracts

Samples: Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Heckmann Corp), Credit Agreement (Forum Energy Technologies, Inc.)

Reasonable Care. The Administrative Agent is required to 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 exercised reasonable care in the custody and preservation of (a) any of the Collateral (a) in its physical possession, if such it handles the custody and preservation of the Collateral is accorded treatment substantially equal to that which in the Administrative Agent accords same manner as it deals with similar property for its own personal property, or account and (b) any other Collateral, if the Administrative Agent it takes such action for that purpose as any each Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of an any Event of Default; provided, further, that but failure of the Administrative Agent to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 2 contracts

Samples: Pledge and Security Agreement (GENTHERM Inc), Pledge and Security Agreement (Amerigon Inc)

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Reasonable Care. The Administrative Agent is required to 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 exercised reasonable care in the custody and preservation of any of the Collateral (a) if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own personal property, or (b) if the Administrative Agent takes such action for that purpose as any Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of an Event of Default; provided, further, that failure of the Administrative Agent to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.. Pledge and Security Agreement

Appears in 1 contract

Samples: Pledge and Security Agreement (Penn Virginia Corp)

Reasonable Care. The Administrative Agent is required to 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 exercised reasonable care in the custody and preservation of any of the Collateral (a) if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own personal property, or (b) if the Administrative Agent takes such action for that purpose as any a Grantor reasonably requests in writing at times other than upon the occurrence and during the continuance of an Event of Default; provided, further, that failure of the Administrative Agent to comply with any such request at any time shall not in itself be deemed a failure to exercise reasonable care.

Appears in 1 contract

Samples: Credit Agreement (Constellation Energy Partners LLC)

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