Duty of Secured Party. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Party shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the Pledgor.
Appears in 5 contracts
Samples: Company Interests Agreement (Five Star Quality Care Inc), Stock Pledge (Sholodge Inc), Stock Pledge Agreement (Candlewood Hotel Co Inc)
Duty of Secured Party. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Party shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the Pledgor.
Appears in 2 contracts
Samples: Pledge Agreement (Five Star Quality Care Inc), Pledge Agreement (Five Star Quality Care Inc)
Duty of Secured Party. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Party shall have no duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the applicable Pledgor.
Appears in 1 contract
Samples: Subtenants’ Company Interests Agreement (Five Star Quality Care Inc)
Duty of Secured Party. Beyond the exercise of reasonable care to assure the safe custody of the Pledged Collateral while held hereunder, the Secured Party shall have no 5 duty or liability to collect any sums due in respect thereof or to protect or preserve rights pertaining thereto, and shall be relieved of all responsibility for the Pledged Collateral upon surrendering the same to the Pledgor.
Appears in 1 contract
