Common use of Authority of Mortgagee Clause in Contracts

Authority of Mortgagee. The rights and responsibilities of Mortgagee under this 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 Mortgage shall, as among Mortgagee and 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 Mortgagor, Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Obligations with full and valid authority so to act or refrain from acting, and Mortgagor shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.

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 MortgagorMortgagors, Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Obligations Instrument with full and valid authority so to act or refrain from acting, and Mortgagor Mortgagors shall not be under any obligation, or entitlement, to make any inquiry respecting such authority.

Authority of Mortgagee. The Mortgagor acknowledges that the rights and responsibilities of the Mortgagee under this 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 Mortgage shall, as among between the Mortgagee and Obligeethe Lenders, 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 the Mortgagor, the Mortgagee shall be conclusively presumed to be acting as agent for the holder of the Obligations Secured Parties with full and valid authority so to act or refrain from acting, and the Mortgagor shall not be under any obligation, or entitlement, entitlement to make any inquiry respecting such authority.