Borrower Distributions. All transfers of Mortgage Borrower’s funds from the Cash Management Account or pursuant to any of the Loan Documents are intended by Borrower and Mortgage Borrower to constitute and shall constitute distributions from Mortgage Borrower to Borrower, and must comply with the requirements as to distributions of all applicable Legal Requirements. No provision of the Loan Documents shall create a debtor-creditor relationship between Mortgage Borrower and Lender.
Appears in 10 contracts
Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
Borrower Distributions. All transfers of Mortgage Borrower’s funds from the Cash Management Account or pursuant to any of the Loan Documents are intended by Borrower , Mortgage Borrower and Mortgage Senior Mezzanine Borrower to constitute and shall constitute distributions from Mortgage Borrower to Borrower, and must comply with the requirements as to distributions of all applicable Legal Requirements. No provision of the Loan Documents shall create a debtor-creditor relationship between Mortgage Borrower and Lender.
Appears in 4 contracts
Samples: Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Junior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)
