Common use of Preservation Clause in Contracts

Preservation. Debtor has the risk of loss of the Collateral. Secured Party’s duty with respect to any Collateral in the possession of Secured Party is solely to use reasonable care in the custody and preservation of the Collateral. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if (a) the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property and (b) Secured Party takes such action for that purpose as Debtor may request in writing, but failure by Secured Party to comply with any such request shall not of itself be deemed a failure to exercise such reasonable care. Secured Party is not responsible for, nor are the Obligations (or Debtor’s liability with respect thereto) subject to setoff or reduction by reason of, any shortage, discrepancy, damage, loss, or destruction in or to the Collateral nor, any depreciation in the value of the Collateral unless, in any such instance, caused by the gross negligence or willful misconduct of Secured Party or the Secured Party's failure to use reasonable care in the custody and preservation of any Collateral in the possession of the Secured Party. Secured Party is not required to fulfill any of the obligations of Debtor with respect to any of the Collateral, or to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of any performance of any party under any of the Collateral, or to present or file any claim, or to take any action to enforce any performance or the payment of any amounts which have been assigned to it, in which it has been granted a security interest, or to which it may be entitled at any time. Secured Party has no duty to maintain in force, to prevent lapse or impairment of, or to exercise any rights with respect to any of the Collateral or any insurance thereon, or to exercise any rights, options or privileges respecting any of the Collateral or to take any steps necessary to preserve rights against prior or other parties or to enforce collection of the Collateral or any part thereof by legal proceedings or otherwise. The duties of Secured Party are to account to Debtor for Collateral actually received by Secured Party and to receive collections, remittances and payments on such Collateral as and when made and received by Secured Party and hold same as Collateral or apply same to the Obligations pursuant to the terms hereof.

Preservation. Debtor has the risk of loss of the Collateral. Secured Party’s The Collateral Agent's duty with respect to any Collateral in the possession of Secured Party the Collateral Agent is solely to use reasonable care in the custody and preservation of the Collateral. Secured Party The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if (a) the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property and (b) Secured Party it takes such action for that purpose as Debtor may request in writing, but failure by Secured Party the Collateral Agent to comply with any such request shall not of itself be deemed a failure to exercise such reasonable care. Secured Party is not responsible forNEITHER THE COLLATERAL AGENT NOR EITHER LENDER IS RESPONSIBLE FOR, nor are the Obligations NOR ARE THE OBLIGATIONS (or Debtor’s liability with respect theretoOR DEBTOR'S LIABILITY WITH RESPECT THERETO) subject to setoff or reduction by reason ofSUBJECT TO SETOFF OR REDUCTION BY REASON OF, ANY SHORTAGE, DISCREPANCY, DAMAGE, LOSS, OR DESTRUCTION IN OR TO THE COLLATERAL nor, in any shortage, discrepancy, damage, loss, or destruction in or to the Collateral norevent, any depreciation in the value of the Collateral. Neither the Collateral unless, in any such instance, caused by the gross negligence or willful misconduct of Secured Party or the Secured Party's failure to use reasonable care in the custody and preservation of any Collateral in the possession of the Secured Party. Secured Party Agent nor either Lender is not required to fulfill any of the obligations of Debtor with respect to any of the Collateral, or to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of any performance of any party under any of the Collateral, or to present or file any claim, or to take any action to enforce any performance or the payment of any amounts which have been assigned to it, in which it has been granted a security interest, or to which it may be entitled at any time. Secured Party Neither the Collateral Agent nor either Lender has no any duty to maintain in force, to prevent lapse or impairment of, or to exercise any rights with respect to any of the Collateral or any insurance thereon, or to exercise any rights, options or privileges respecting any of the Collateral or to take any steps necessary to preserve rights against prior or other parties or to enforce collection of the Collateral or any part thereof by legal proceedings or otherwise. The duties of Secured Party the Collateral Agent are to account to Debtor for Collateral actually received by Secured Party the Collateral Agent and to receive collections, remittances and payments on such Collateral as and when made and received by Secured Party the Collateral Agent and hold same as Collateral or apply same to the Obligations pursuant to the terms hereof.

Preservation. Debtor has the risk of loss of the Collateral. Secured Party’s 's duty with respect to any Collateral in the possession of Secured Party is solely to use reasonable care in the custody and preservation of the Collateral. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if (a) the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property and (b) Secured Party it takes such action for that purpose as Debtor may request in writing, but failure by Secured Party to comply with any such request shall not of itself be deemed a failure to exercise such reasonable care. Secured Party is not responsible for, nor are the Obligations (or Debtor’s liability with respect thereto) subject to setoff or reduction by reason of, for any shortage, discrepancy, damage, loss, or destruction in or to the Collateral nor, any depreciation in the value of the Collateral unless, in any such instance, unless caused by the gross negligence or willful misconduct of Secured Party or the Secured Party's failure to use reasonable care nor, in any event, any depreciation in the custody and preservation of any Collateral in the possession value of the Secured PartyCollateral. Secured Party is not required to fulfill any of the obligations of Debtor with respect to any of the Collateral, or to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of any performance of any party under any of the Collateral, or to present or file any claim, or to take any action to enforce any performance or the payment of any amounts which have been assigned to it, in which it has been granted a security interest, or to which it may be entitled at any time. Secured Party has no duty to maintain in force, to prevent lapse or impairment of, or to exercise any rights with respect to any of the Collateral or any insurance thereon, or to exercise any rights, options or privileges respecting any of the Collateral or to take any steps necessary to preserve rights against prior or other parties or to enforce collection of the Collateral or any part thereof by legal proceedings or otherwise. The duties of Secured Party are to account to Debtor for Collateral actually received by Secured Party and to receive collections, remittances and payments on such Collateral as and when made and received by Secured Party and hold same as Collateral or apply same to the Obligations pursuant to the terms hereofCollateral.

Preservation. Debtor The Borrower has the risk of loss of the Collateral. The Secured Party’s duty with respect to any Collateral in the possession of the Secured Party is solely to use reasonable care in the custody and preservation of the Collateral. The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if (a) the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property and (b) Secured Party it takes such action for that purpose as Debtor the Borrower may request in writing, but failure by the Secured Party to comply with any such request shall not of itself be deemed a failure to exercise such reasonable care. The Secured Party is not responsible for, nor are the Obligations (or Debtorthe Borrower’s liability with respect thereto) subject to setoff or reduction by reason of, any shortage, discrepancy, damage, loss, or destruction in or to the Collateral nor, any depreciation in the value of the Collateral unless, in any such instance, unless caused by the gross negligence or willful misconduct of the Secured Party or the Secured Party's failure to use reasonable care nor, in any event, any depreciation in the custody and preservation of any Collateral in the possession value of the Secured PartyCollateral. The Secured Party is not required to fulfill any of the obligations of Debtor the Borrower with respect to any of the Collateral, or to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of any performance of any party under any of the Collateral, or to present or file any claim, or to take any action to enforce any performance or the payment of any amounts which have been assigned to it, in which it has been granted a security interest, or to which it may be entitled at any time. The Secured Party has no duty to maintain in force, to prevent lapse or impairment of, or to exercise any rights with respect to any of the Collateral or any insurance thereon, or to exercise any rights, options or privileges respecting any of the Collateral or to take any steps necessary to preserve rights against prior or other parties or to enforce collection of the Collateral or any part thereof by legal proceedings or otherwise. The duties of the Secured Party are to account to Debtor the Borrower for Collateral actually received by the Secured Party and to receive collections, remittances and payments on such Collateral as and when made and received by the Secured Party and hold same as Collateral or apply same to the Obligations pursuant to the terms hereof.

Preservation. Debtor has the risk of loss of the Collateral. Secured Party’s duty with respect to any Collateral in the possession of Secured Party is to solely to use reasonable care in the custody and preservation of the CollateralCollateral and to comply with any other obligations imposed on a secured party under the UCC as to such matters. Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of any Collateral in its possession if (a) the Collateral is accorded treatment substantially equal to that which the Secured Party accords its own property and (b) Secured Party it takes such action for that purpose (a) as is commercially reasonable given the nature of the Collateral, (b) as required by the UCC, or (c) as Debtor may request in writing, but failure by Secured Party to comply with any such request shall not of itself be deemed a failure to exercise such reasonable care. Except as otherwise provided in this Security Agreement, Secured Party is not responsible for, nor are the Obligations (or Debtor’s liability with respect thereto) subject to setoff or reduction by reason of, any shortage, discrepancy, damage, loss, or destruction in or to the Collateral nor, any depreciation in the value of the Collateral unless, in any such instance, unless caused by the gross negligence or willful misconduct of Secured Party or the Secured Party's failure to use reasonable care nor, in any event, any depreciation in the custody and preservation of any Collateral in the possession value of the Secured PartyCollateral. Secured Party is not required to fulfill any of the obligations of Debtor with respect to any of the Collateral, or to make any payment, or to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of any performance of any party under any of the Collateral, or to present or file any claim, or to take any action to enforce any performance or the payment of any amounts which have been assigned to it, in which it has been granted a security interest, or to which it may be entitled at any time. Secured Party has no duty to maintain in force, to prevent lapse or impairment of, or to exercise any rights with respect to any of the Collateral or any insurance thereon, or to exercise any rights, options or privileges respecting any of the Collateral or to take any steps necessary to preserve rights against prior or other parties or to enforce collection of the Collateral or any part thereof by legal proceedings or otherwise. The duties of Secured Party are to account to Debtor for Collateral actually received by Secured Party and to receive collections, remittances and payments on such Collateral as and when made and received by Secured Party and hold same as Collateral or apply same to the Obligations pursuant to the terms hereof.