Example ContractsClausesprotection of collateralVariants
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Protection of Collateral All expenses of protecting, storing, warehousing, insuring, handling, maintaining and shipping any Collateral, all Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Borrowers Agent shall not be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s actual possession), for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at Borrowers’ sole risk

Protection of Collateral AllCollateral; Reimbursement. Each Borrower shall pay all expenses of protecting, storing, warehousing, insuring, handling, maintainingmaintaining, and shipping any Collateral, all Taxes payable with respect to anythe Collateral (includingand any sale thereof), and all other paymentsexcise, property, sales, and use taxes levied by any state, federal or local authority on any of the Collateral or in respect of the sale thereof. If any Borrower fails promptly to pay any portion thereof when due, Agent may, at its option, but shall not be required to, pay the same and charge any Borrower’s account under this Agreement therefor, and each Borrower agrees promptly to be madereimburse Agent therefor with interest accruing thereon daily at the rate of interest then in effect under the Notes. All sums so paid or incurred by Agent tofor any Person to realize uponof the foregoing and any Collateral, shall be borne and all sums for which Borrowers may become liable under this Agreement and all reasonable costs and expenses (including Agent’s Expenses) which Agent may incur in enforcing or protecting its Lien or rights and interest in the Collateral or any of its rights or remedies under this Agreement or any other agreement between the parties hereto or in respect of any of the transactions occurring thereunder until paid by Borrowers to Agent with interest at the rate of interest then in effect under the Notes, shall be considered as additional indebtedness owing by Borrowers to Agent under this Agreement and, as such, shall be secured by all the Collateral. Except for Agent or Lenders’ gross negligence or willful misconduct, Agent shall not be liable or responsible in any way for the safekeeping of any Collateral,of the Collateral or for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s actual possession),or for any diminution in the value thereof, or for any act or default of any warehouseman, carrier, forwarding agencyagency, or other Person whatsoever, but the same shall be at Borrowers’ sole riskrisk.

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