Authority of Mortgagee. The rights and responsibilities of Mortgagee under this Junior Mortgage with respect to any action taken by Mortgagee or the exercise or non-exercise by Mortgagee of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Junior Mortgage shall, as among Mortgagee and the Obligee, be governed by the Secured Agreement, and by such other agreements with respect thereto as may exist from time to time among them, but, as among Mortgagee and Mortgagors, Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Instrument with full and valid authority so to act or refrain from acting, and Mortgagors shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 2 contracts
Samples: Junior Mortgage and Security Agreement (Atlantic Gulf Communities Corp), Junior Mortgage and Security Agreement (Atlantic Gulf Communities Corp)
Authority of Mortgagee. The rights and responsibilities of Mortgagee under this Junior Mortgage with respect to any action taken by Mortgagee or the exercise or non-exercise by Mortgagee of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Junior Mortgage shall, as among Mortgagee and the Obligee, be governed by the Secured Agreement, and by such other agreements with respect thereto as may exist from time to time among them, but, as among Mortgagee and MortgagorsMortgagor, Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Instrument Obligations with full and valid authority so to act or refrain from acting, and Mortgagors Mortgagor shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.
Appears in 2 contracts
Samples: Mortgage and Security Agreement (Atlantic Gulf Communities Corp), Mortgage and Security Agreement (Atlantic Gulf Communities Corp)
Authority of Mortgagee. The Mortgagor acknowledges that the rights and responsibilities of the Mortgagee under this Junior Mortgage with respect to any action taken by the Mortgagee or the exercise or non-exercise by the Mortgagee of any option, right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Junior Mortgage shall, as among between the Mortgagee and the ObligeeLenders, be governed by the Secured Agreement, Loan Documents and by such other agreements with respect thereto as may exist from time to time among them, but, as among between the Mortgagee and Mortgagorsthe Mortgagor, the Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Instrument Secured Parties with full and valid authority so to act or refrain from acting, and Mortgagors the Mortgagor shall not be under any obligation, or entitlement, entitlement to make any inquiry respecting such authority.
Appears in 1 contract
Samples: Amendment Agreement (Consolidated Communications Holdings, Inc.)