OBLIGATIONS OF BANK. Bank shall have no duty to take any steps necessary to preserve the rights of Debtor against prior parties, or to initiate any action to protect against the possibility of a decline in the market value of the Collateral or Proceeds. Bank shall not be obligated to take any action with respect to the Collateral or Proceeds requested by Debtor unless such request is made in writing and Bank determines, in its sole discretion, that the requested action would not unreasonably jeopardize the value of the Collateral and Proceeds as security for the Indebtedness.
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Samples: Security Agreement (Dot Hill Systems Corp), Security Agreement (Dot Hill Systems Corp), Securities Account Control Agreement (Auspex Systems Inc)
OBLIGATIONS OF BANK. Bank shall have no duty to take any steps necessary to preserve the rights of Debtor Owner against prior parties, or to initiate any action to protect against the possibility of a decline in the market value of the Collateral or Proceeds. Bank shall not be obligated to take any action actions with respect to the Collateral or Proceeds requested by Debtor Owner unless such request is made in writing and Bank determines, in its sole discretion, that the requested action would not unreasonably jeopardize the value of the Collateral and Proceeds as security for the Indebtedness.
Appears in 2 contracts
Samples: Credit Agreement (Photoworks Inc /Wa), Third Party Security Agreement (Dot Hill Systems Corp)
OBLIGATIONS OF BANK. Bank shall have no duty to take any steps necessary to preserve the rights of Debtor Owner against prior parties, or to initiate any action to protect against the possibility of a decline in the market value of the Collateral or Proceeds. Bank shall not be obligated to take any action actions with respect to the Collateral or Proceeds requested by Debtor Owner unless such request is made in writing and Bank determines, in its sole discretion, that the requested action would not unreasonably jeopardize the value of the Collateral and Proceeds as security for the Indebtednessindebtedness.
Appears in 1 contract
Samples: Securities Account Control Agreement (Grip Technologies Inc)
OBLIGATIONS OF BANK. Bank shall have no duty to take any steps necessary to preserve the rights of Debtor against prior parties, or to initiate any action to protect against the possibility of a decline in the market value of the Collateral or Proceeds. Bank shall not be obligated to take any action with respect to the Collateral or Proceeds requested by Debtor unless such request is made in writing and Bank determines, in its sole discretion, that the requested action would not unreasonably jeopardize the value of the Collateral and Proceeds as security for the IndebtednessObligations.
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