Assignment as Collateral Security Sample Clauses

Assignment as Collateral Security. The assignment made --------------------------------- hereby is executed as collateral security, and the execution and delivery of this Assignment Agreement shall not in any way impair or diminish any obligations of the Lessor as lessor under the Lease or of the Lessor, the Assignee, the Guarantor or any Lender under any of the other Operative Documents, nor impair, affect or modify any of the terms and conditions of the Notes or the Loan Agreement or any of the other Operative Documents securing the Notes, nor shall any of the obligations of the Lessor or of any other Person under any of the Operative Documents (other than the express obligations of the Assignee) be imposed upon the Assignee, including, but not limited to, collecting Rent or enforcing performance by the Lessee or the Guarantor. Without limiting the generality of the foregoing, the Assignee shall not be obligated to perform or discharge, nor does the Assignee hereby undertake to perform or discharge, any obligation, duty or liability of the Lessor under the Lease, or of the Lessor under any of the other Operative Documents, or under or by reason of this Assignment Agreement, and the Lessor does hereby waive any and all liability, loss or damage which may or might be asserted against the Assignee by reason of any alleged obligations or undertakings on its or their part to perform or discharge any of the terms, covenants or agreements contained in the Lease to be performed or discharged by the Lessor thereunder; provided, however, that if the Assignee -------- ------- does undertake any such action pursuant to the terms, conditions and restrictions contained in this Assignment Agreement and the other Operative Documents, the Lessor shall retain any rights it may have with respect thereto under the Operative Documents or by law or in equity, and the Assignee shall be liable for its gross negligence or willful misconduct. It is further understood and agreed that this Assignment Agreement shall not operate to (i) place responsibility for the control, care, management or repair of the Leased Property upon the Assignee, nor for the carrying out of any of the terms and conditions of the Lease or of any of the other Operative Documents (except to the extent expressly provided therein), in any such case binding upon or applicable to the Lessor, or (ii) make the Assignee responsible or liable for any waste with respect to the Land or the other Leased Property by the Lessee or any Person other than by...