Liability for Collateral. Neither Agent nor any Lender has any obligation to clean up or otherwise prepare the Collateral for sale. All risk of loss, damage or destruction of the Collateral shall be borne by the Loan Parties, absent gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment on the part of the Agent.
Appears in 4 contracts
Samples: Loan and Security Agreement (iLearningEngines, Inc.), Loan and Security Agreement (Cue Health Inc.), Loan and Security Agreement (Cue Health Inc.)