Common use of LIMITATION ON LIABILITY OF OPERATING ADVISER Clause in Contracts

LIMITATION ON LIABILITY OF OPERATING ADVISER. The Operating Adviser shall have no liability to the Trust, the Depositor, the Master Servicers, the Special Servicers, the Trustee, the Paying Agent or the Certificateholders for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. By its acceptance of a Certificate, each Certificateholder (and Certificate Owner) confirms its understanding that the Operating Adviser may take actions that favor the interests of one or more Classes of the Certificates over other Classes of the Certificates and that the Operating Adviser may have special relationships and interests that conflict with those of Holders of some Classes of the Certificates, and each Certificateholder (and Certificate Owner) agrees to take no action against the Operating Adviser based upon such special relationship or conflict. Furthermore, the Operating Adviser shall have no rights with respect to the Non-Trust-Serviced Pari Passu Loan or the Non-Trust Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to the 2007-HQ11 Pooling and Servicing Agreement, the holder of the Non-Trust Serviced Companion Loan or the certificateholders under the 2007-HQ11 Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13)

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LIMITATION ON LIABILITY OF OPERATING ADVISER. The Operating Adviser shall have no liability to the Trust, the Depositor, the Master ServicersServicer, the Special ServicersServicer, the Trustee, the Paying Agent Agent, the holder of the Serviced Companion Loan or the Certificateholders for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. By its acceptance of a Certificate, each Certificateholder (and Certificate Owner) confirms its understanding that the Operating Adviser may take actions that favor the interests of one or more Classes of the Certificates over other Classes of the Certificates and that the Operating Adviser may have special relationships and interests that conflict with those of Holders of some Classes of the CertificatesCertificates and each holder of the Serviced Companion Loan, and each Certificateholder (and Certificate Owner) agrees to take no action against the Operating Adviser based upon such special relationship or conflict. Furthermore, the Operating Adviser shall have no rights with respect to the any Non-Trust-Serviced Pari Passu Loan or the any Non-Trust Trust-Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to the 2007-HQ11 any Other Pooling and Servicing Agreement, the holder of the any Non-Trust Trust-Serviced Companion Loan or the certificateholders under the 2007-HQ11 any Other Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 IQ8), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 IQ8), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 IQ8)

LIMITATION ON LIABILITY OF OPERATING ADVISER. The Operating Adviser shall have no liability to the Trust, the Depositor, the Master Servicers, the Special Servicers, the Trustee, the Paying Agent Agent, the holders of each Serviced Companion Loan or the Certificateholders for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. Furthermore, the Operating Adviser shall have no rights with respect to any Non Trust-Serviced Pari Passu Loan or any Non Trust Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to any Other Pooling and Servicing Agreement, the holder of any Non Trust Serviced Companion Loan or the certificateholders under any Other Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. By its acceptance of a Certificate, each Certificateholder (and Certificate Owner) confirms its understanding that the Operating Adviser may take actions that favor the interests of one or more Classes of the Certificates over other Classes of the Certificates and that the Operating Adviser may have special relationships and interests that conflict with those of Holders of some Classes of the CertificatesCertificates and the holders of each Serviced Companion Loan, and each Certificateholder (and Certificate Owner) agrees to take no action against the Operating Adviser based upon such special relationship or conflict. Furthermore, the Operating Adviser shall have no rights with respect to the Non-Trust-Serviced Pari Passu Loan or the Non-Trust Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to the 2007-HQ11 Pooling and Servicing Agreement, the holder of the Non-Trust Serviced Companion Loan or the certificateholders under the 2007-HQ11 Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq16)

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LIMITATION ON LIABILITY OF OPERATING ADVISER. The Operating Adviser shall have no liability to the Trust, the Depositor, the Master Servicers, the Special Servicers, the Trustee, the Paying Agent Agent, the holders of each Serviced Companion Loan or the Certificateholders for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. Furthermore, the Operating Adviser shall have no rights with respect to the Non Trust-Serviced Pari Passu Loan or the Non Trust Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to the 2006-PWR14 Pooling and Servicing Agreement, the holder of the Non Trust Serviced Companion Loan or the certificateholders under the 2006-PWR14 Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement. By its acceptance of a Certificate, each Certificateholder (and Certificate Owner) confirms its understanding that the Operating Adviser may take actions that favor the interests of one or more Classes of the Certificates over other Classes of the Certificates and that the Operating Adviser may have special relationships and interests that conflict with those of Holders of some Classes of the CertificatesCertificates and the holders of each Serviced Companion Loan, and each Certificateholder (and Certificate Owner) agrees to take no action against the Operating Adviser based upon such special relationship or conflict. Furthermore, the Operating Adviser shall have no rights with respect to the Non-Trust-Serviced Pari Passu Loan or the Non-Trust Serviced Companion Loan. The Operating Adviser shall have no liability to the trust formed pursuant to the 2007-HQ11 Pooling and Servicing Agreement, the holder of the Non-Trust Serviced Companion Loan or the certificateholders under the 2007-HQ11 Pooling and Servicing Agreement for any action taken, or for refraining from the taking of any action, in good faith and using reasonable business judgment pursuant to this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)

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