Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 16 contracts
Samples: Security Agreement (Marconi Corp PLC), Security Agreement (Marconi Corp PLC), Security Agreement (Marconi Corp PLC)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 10 contracts
Samples: Security Agreement (PARTS iD, Inc.), Guarantor Security Agreement (PARTS iD, Inc.), Guarantor Security Agreement (AERWINS Technologies Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 10 contracts
Samples: Credit Agreement (TRANS LUX Corp), Second Amended and Restated Security Agreement (Cardinal Ethanol LLC), Security Agreement (Itex Corporation)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 10 contracts
Samples: Security Agreement (Ainos, Inc.), Security Agreement (Northann Corp.), Security Agreement (PaxMedica, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 9 contracts
Samples: Asset Purchase Agreement (Greenrose Acquisition Corp.), Common Stock Purchase Agreement (ONE Bio, Corp.), Security Agreement (Itex Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 4 contracts
Samples: Security Agreement (Digipath, Inc.), Security Agreement (Digipath, Inc.), Security Agreement (Digipath, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 4 contracts
Samples: Asset Sale and Purchase Agreement (PBF Energy Inc.), Asset Sale and Purchase Agreement (PBF Energy Inc.), Security Agreement (Green Plains Renewable Energy, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Code or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 3 contracts
Samples: Security Agreement (Bullfrog Gold Corp.), Security Agreement (Bullfrog Gold Corp.), Security Agreement (Western Goldfields Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised included in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe safe-keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 3 contracts
Samples: Security Agreement (Sedona Corp), Security Agreement (Sedona Corp), Security Agreement (Sedona Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Customer shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Customer thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Customer under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty as a Secured Party with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC UCC of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account; provided, however, that nothing in this Agreement shall be construed to limit in any way the obligations of SS/L under the Satellite Purchase Agreement.
Appears in 3 contracts
Samples: Security Agreement (Sirius Satellite Radio Inc), Credit Agreement (Loral Space & Communications Inc.), Customer Credit Agreement (Sirius Satellite Radio Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 3 contracts
Samples: Security Agreement (Solar Power, Inc.), Security Agreement (Solar Power, Inc.), Security Agreement (Granite City Food & Brewery LTD)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account, but with no duty to preserve rights against prior parties.
Appears in 3 contracts
Samples: Security Agreement (Blue Star Foods Corp.), Security Agreement (Blue Star Foods Corp.), Security Agreement (COMSovereign Holding Corp.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account, but with no duty to preserve rights against prior parties.
Appears in 2 contracts
Samples: Security Agreement (Seelos Therapeutics, Inc.), Security Agreement (Seelos Therapeutics, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Pledgor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by the Pledgor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of the Pledgor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Investment Agreement (Management Network Group Inc), Security Agreement (Management Network Group, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Borrower shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Borrower thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Borrower under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or timestime. Secured Party's sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 9.207 of the NYUCC UCC or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Security Agreement (Unified Signal, Inc.), Security Agreement (Unified Signal, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section § 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Senior Subordinated (Pw Eagle Inc), Junior Subordinated (Pw Eagle Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Security Agreement (Lumenon Innovative Lightwave Technology Inc), Security Agreement (Lumenon Innovative Lightwave Technology Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtors shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtors thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtors under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9Sec.9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: And Security Agreement (Options Talent Group), Agreement and Plan of Merger (Options Talent Group)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 9a-207 of the NYUCC Uniform Commercial Code or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Security Agreement (Utah Medical Products Inc), Amended and Restated Security Agreement (Franklin Covey Co)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Code or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Security Agreement (Neutron Energy, Inc.), Security Agreement (Neutron Energy, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor such Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Guarantors Security Agreement (Marizyme Inc), Unit Purchase Agreement (Marizyme Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 2 contracts
Samples: Security Agreement (Zagg INC), Security Agreement (Zagg INC)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account. 12.
Appears in 2 contracts
Samples: Security Agreement (Cardinal Ethanol LLC), Security Agreement (Cardinal Ethanol LLC)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in comprising the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Code or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Solitario Exploration & Royalty Corp.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.. - 9 - ARTICLE VI
Appears in 1 contract
Samples: HTM Security Agreement
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtors shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtors thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtors under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty Party shall use reasonable care with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, possession or under Section 9-207 its control. The Secured Party shall not have any other duty as to any Collateral in its possession or control or in the possession or control of any agent or nominee of the NYUCC Secured Party, or otherwise, shall be any income thereon or as to deal with such Collateral in the same manner as Secured Party deals with similar property for its own accountpreservation of rights against prior parties or any other rights pertaining thereto.
Appears in 1 contract
Samples: Second Lien Security Agreement (North American Technologies Group Inc /Tx/)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping keeping, and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (North American Technologies Group Inc /Mi/)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor any Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Know Labs, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor such Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Subsidiary Security Agreement (Miller Industries Inc /Tn/)
Secured Party’s Obligations and Duties. Anything herein to the ------------------------------------------ contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Rapidtron Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9(S)9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Grantor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Pledge and Security Agreement (Real Industry, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwiseUCC, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its possession, under Section § 9-207 of the NYUCC Uniform Commercial Code of the State, or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (POSITIVEID Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Big Lots Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Grantor thereunder. Neither the Secured Party nor any Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party or any Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party or any Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party or any Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party or any Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Assignor shall remain liable for its obligations under each contract or agreement comprised included in the Collateral to be observed or performed by Pledgor thereunderCollateral. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Assignor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Firstcity Financial Corp
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the *** Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC MA UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Settlement Agreement and Mutual Release (Hemosense Inc)
Secured Party’s Obligations and Duties. Anything herein to the -------------------------------------- contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, possession shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtors shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtors thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Security Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtors under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor any Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain liable under each contract or agreement comprised in comprising the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (Enernoc Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised included in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe safe-keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Sedona Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 70A-9a-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Asset Purchase and Sale Agreement (Crown Energy Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Security Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor such Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Security Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping safekeeping and physical preservation of the Collateral in its his possession, under Section §9-207 of the NYUCC UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its his own account.
Appears in 1 contract
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Samples: Security Agreement (Dyax Corp)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Grantor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Grantor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Security Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC NVUCC or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor a Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account, but with no duty to preserve rights against prior parties.
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Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtors shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtors thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor any Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Company shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC MA UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Samples: Settlement Agreement and Mutual Release (Hemosense Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein in this Agreement to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9490:9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Power Purchase Agreement
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. Neither the Secured Party nor any other Bank shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party or any other Bank be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein Secured Party has no duty to collect any income accruing on the Collateral or preserve any rights relating to the Collateral. Notwithstanding anything to the contrary notwithstandingherein, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall . The Secured Party shall not be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or timestime. The Secured Party's ’s sole duty with respect to the custody, safe safe-keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC UCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Company shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor such Company thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor any Company under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Guarantor Security Agreement (Abvc Biopharma, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor Debtor shall remain obligated and liable under each contract or agreement comprised in comprising the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section §9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Security Agreement (Virtusa Corp)
Secured Party’s Obligations and Duties. Anything herein Notwithstanding any provision contained in this Agreement to the contrary notwithstandingcontrary, Pledgor Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor Debtor thereunder. Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by Secured Party of any payment relating to any of the Collateral, nor shall Secured Party be obligated in any manner to perform any of the obligations of Pledgor Debtor under or pursuant to any such contract or agreementCollateral, to make inquiry as to the nature or sufficiency of any payment received by Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to Secured Party or to which Secured Party may be entitled at any time or times. Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwiseMissouri Uniform Commercial Code, shall be to deal with such Collateral in the same manner as Secured Party deals with similar property for its own account. Debtor hereby acknowledges and agrees that Secured Party shall have no duty as to the collection or protection of the Collateral or any income thereon, nor as to the preservation of rights against prior parties, nor as to the preservation of any rights pertaining thereto.
Appears in 1 contract
Samples: Secured Senior Lending Agreement (Pioneer Financial Services Inc)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor each Grantor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
Appears in 1 contract
Samples: Pledge and Security Agreement (GenuTec Business Solutions, Inc.)
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Grantor shall remain obligated and liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Grantor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account.
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Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, Pledgor the Debtor shall remain liable under each contract or agreement comprised in the Collateral to be observed or performed by Pledgor the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of Pledgor the Debtor under or pursuant to any such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts that which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. The Secured Party's ’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral in its possession, under Section 9-207 of the NYUCC Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral in the same manner as the Secured Party deals with similar property for its own account. Notwithstanding the foregoing, the provisions of this Section 102 shall be subject to Secured Party’s obligations under the SDASA.
Appears in 1 contract
