Common use of Secured Party's Duties Clause in Contracts

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 14 contracts

Samples: Pledge Agreement (Janel Corp), Pledge Agreement (Interface Security Systems, L.L.C.), Pledge Agreement (Interface Security Systems Holdings Inc)

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Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys monies actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Global Axcess Corp), Loan and Security Agreement (Global Axcess Corp), Security Agreement (Work Recovery Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior other parties or any other rights pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Loan and Security Agreement (Eagle Geophyical Inc), Loan and Security Agreement (Eagle Geophyical Inc), Loan and Security Agreement (Seitel Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Asset Sale and Purchase Agreement (American Healthchoice Inc /Ny/), Security Agreement (National Manufacturing Technologies), Security Agreement (Ophthalmic Imaging Systems Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and Pledged Collateral Stock and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its Secured Party's possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral or the Pledged CollateralStock.

Appears in 3 contracts

Samples: Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Collateral and Pledged Collateral Stock and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its Secured Party’s possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral or the Pledged CollateralStock.

Appears in 3 contracts

Samples: Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it the Obligor hereunder, the Secured Party shall have no duty as to any Pledged Collateral Collateral, or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Agreement (Dyadic International Inc), Loan Agreement (Dyadic International Inc), Agreement (Dyadic International Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its Secured Party's possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl)

Secured Party's Duties. (a) The powers conferred on the Secured Party hereunder are solely to protect its Secured Party's interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights Person pertaining to any Pledged Collateral.

Appears in 3 contracts

Samples: Patent Collateral Assignment and Security Agreement (American Biogenetic Sciences Inc), Trademark Collateral Assignment and Security Agreement (American Biogenetic Sciences Inc), Security Agreement (American Biogenetic Sciences Inc)

Secured Party's Duties. (a) The powers conferred on the Secured Party hereunder are solely to protect its their interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 2 contracts

Samples: Stock Pledge Agreement (BPK Resources Inc), Stock Pledge Agreement (BPK Resources Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral. Without limiting the generality of the foregoing, Secured Party has no obligation to clean-up or otherwise prepare the Collateral for sale.

Appears in 2 contracts

Samples: General Security Agreement (Neose Technologies Inc), General Security Agreement (Neose Technologies Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral Secured Assets and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps obligation to preserve rights against prior parties or any other rights pertaining to any Pledged Collateralparties.

Appears in 2 contracts

Samples: Security Agreement (Palatin Technologies Inc), Security Agreement (Epix Medical Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest interests in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys monies actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral, except as provided under Section 12 hereof.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Bentley Systems Inc), Pledge Agreement (Bentley Systems Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Thoroughbred Interests Inc), Pledge and Security Agreement (Dauphin Technology Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its Secured Party’s possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 2 contracts

Samples: Security Agreement (Neptune Society Inc/Fl), Security Agreement (Neptune Society Inc/Fl)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged the Collateral or as to the taking of any necessary steps to preserve its rights against prior other parties or any other rights pertaining to any Pledged the Collateral.

Appears in 1 contract

Samples: Security Agreement (Monarch Services Inc)

Secured Party's Duties. The powers conferred on the Secured Party ---------------------- hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody and preservation of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Ashton Technology Group Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged CollateralCollateral and no such duties shall be implied as arising hereunder.

Appears in 1 contract

Samples: Pledge Agreement (Cadiz Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged CollateralCollateral and no such duties shall be implied as arising hereunder.

Appears in 1 contract

Samples: Pledge Agreement (Prospect Medical Holdings Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Organic to Go Food CORP)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest (on behalf of itself, the Junior Trustee and the Junior Noteholders) in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Third Lien Pledge Agreement (Hovnanian Enterprises Inc)

Secured Party's Duties. The powers conferred on the Secured ---------------------- Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Bionx Implants Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Visual Data Corp)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest the interests of the Secured Party in the Pledged Collateral Collateral, and shall not impose any duty upon it the Secured Party to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Cinemastar Luxury Theaters Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral Secured Assets and shall not impose any duty of any kind or nature upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking obligation of any necessary steps kind or nature to preserve rights against prior parties or any other rights pertaining to any Pledged CollateralPerson.

Appears in 1 contract

Samples: Loan Agreement (Epix Medical Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest interests in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Standard Automotive Corp)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it its to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Chrysalis International Corp)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunderhereunder or on its behalf, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Stock Pledge Agreement (U S Interactive Inc/Pa)

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Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (CastleRock Security Holdings, Inc.)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its Secured Party’s interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powersCollateral. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged the Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged the Collateral. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral if such Collateral is accorded treatment substantially equal to that which Secured Party accords its own property.

Appears in 1 contract

Samples: Security Agreement (Giga Tronics Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it or any Secured Party to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or Collateral, as to the ascertaining or taking of any necessary steps action with respect to preserve rights against prior parties calls, conversions, exchanges, maturities, tenders or any other rights pertaining matters relative to any Pledged Collateral., whether

Appears in 1 contract

Samples: Security Agreement (Quest Medical Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: General Security Agreement (Sonics & Materials Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its their interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Securities Pledge Agreement (Trimedia Entertainment Group Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it Secured Party to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Century Electronics Manufacturing Inc)

Secured Party's Duties. (a) The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Westmoreland Coal Co)

Secured Party's Duties. The powers conferred on the Secured Party hereunder under this Agreement are solely to protect its interest in the Collateral and the Pledged Collateral Shares and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its their possession and the accounting for moneys monies actually received by it them hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Collateral or any Pledged CollateralShares.

Appears in 1 contract

Samples: Pledge and Security Agreement (Eurotech LTD)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Findex Com Inc)

Secured Party's Duties. The powers conferred on the upon Secured ----------------------- Party hereunder by this Agreement are solely to protect its interest their interests in the Pledged Collateral and shall not impose any duty upon it Secured Party to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have be under no duty as whatsoever to make or give any Pledged presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, or other notice or demand in connection with any Collateral or as the Obligations, or to the taking of take any steps necessary steps to preserve any rights against prior parties or any other rights pertaining to any Pledged Collateralparties.

Appears in 1 contract

Samples: Security Agreement (Colony Energy, Inc.)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it Secured Party to exercise any such powers. Except for the safe custody of any Pledged Collateral in its the possession of Secured Party, and the accounting for moneys and for other properties actually received by it Secured Party hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateralthereto.

Appears in 1 contract

Samples: Loan and Security Agreement (First Virtual Corp)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody and preservation of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Integrated Alarm Services Group Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest (on behalf of itself, the Trustee and the Noteholders) in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Second Lien Pledge Agreement (Hovnanian Enterprises Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Pledge Agreement (Westmoreland Coal Co)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the exercise of reasonable care in the safe custody of any Pledged Collateral in its possession and preservation of, and the accounting for for, moneys actually received by it hereunder, the Secured Party shall have no duty as to any Pledged Collateral Collateral, whether or not Secured Party has or is deemed not to have knowledge of such matters, or as to the taking of any necessary steps to preserve rights against prior any parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Save on Energy Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except for the safe custody of any Pledged Collateral certificates or other instruments evidencing the Membership Interest in its possession and the an accounting for moneys actually received by it hereunder, the Secured Party shall have no duty duty, as to any Pledged Collateral Collateral, to ascertain or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.take action

Appears in 1 contract

Samples: Assignment, Pledge and Security Agreement (Black Hawk Gaming & Development Co Inc)

Secured Party's Duties. The powers conferred on the Secured Party hereunder are solely to protect its interest in the Pledged Collateral and shall not impose any duty upon it to exercise any such powers. Except as set forth below and for the safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Secured Party shall not have no any duty as to any Pledged Collateral or as to the taking of any necessary steps to preserve rights against prior parties or any other rights pertaining to any Pledged Collateral.

Appears in 1 contract

Samples: Security Agreement (Scepter Holdings Inc)

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