Common use of LIMITATION ON MORTGAGEE'S LIABILITY Clause in Contracts

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises for any purpose other than foreclosure, the holder of a mortgage shall have all rights of Landlord, and during the period of such possession, shall also have the duty to perform all Landlord’s obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform any of the obligations of Landlord unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 2 contracts

Samples: Sublease Agreement (Demandware Inc), Lease Agreement (Demandware Inc)

AutoNDA by SimpleDocs

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises Premises for any purpose other than foreclosurepurpose, the holder of a mortgage Mortgage and/or ground lessor, as applicable, shall have all rights of LandlordLandlord and, and during the period of such possessionpossession or ownership, shall also have the duty to perform all Landlord’s 's obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform perform, any of the obligations of Landlord Landlord, unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgageMortgage. Upon entry for the purpose of foreclosing a mortgageMortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Netscout Systems Inc)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises for any purpose other than foreclosure, the holder of a mortgage shall have all rights of Landlord, and during the period of such possession, shall also have the duty to perform all Landlord’s obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform any of the obligations of Landlord unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Aspen Technology Inc /De/)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises for any purpose other than foreclosure, the holder of a mortgage shall have all rights of Landlord, and during the period of such possession, shall also have the duty to perform all Landlord’s obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform any of the obligations of Landlord unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entryentry but which constitute continuing obligations), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Zoran Corp \De\)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises for any purpose other than foreclosure, the holder of a mortgage shall have all rights of Landlord, and during the period of such possession, shall also have the duty to perform all Landlord’s obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform any of the obligations of Landlord unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the die holder as Landlord.

Appears in 1 contract

Samples: Sublease (Demandware Inc)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises for any purpose other than foreclosure, the holder of a mortgage shall have all rights of Landlord, and during the period of such possession, shall also have the duty to perform all Landlord’s 's obligations hereunder. Except during such period of possession, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform any of the obligations of Landlord unless and until such holder shall enter and take possession of the mortgaged premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Nexx Systems Inc)

AutoNDA by SimpleDocs

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking ----------------------------------- possession of the mortgaged premises Mortgaged Premises for any purpose other than foreclosurepurpose, the holder of a mortgage shall have all rights of LandlordLandlord and, and during the period of such possessionpossession or ownership, shall also have the duty to perform all Landlord’s 's obligations hereunder. Except during such period of possessionpossession and from and after foreclosure or deed in lieu of foreclosure, no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform perform, any of the obligations of Landlord Landlord, unless and until such holder shall enter and take possession of the mortgaged premises Mortgaged Premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Davox Corp)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises Mortgaged Property for any purpose other than foreclosure, the holder of a mortgage Mortgagee shall have all rights of LandlordLandlord and, and during the period of such possession, shall also have the duty to perform all Landlord’s 's obligations hereunder. Except during such period of possession, no such holder Mortgagee shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform perform, any of the obligations of Landlord unless and until such holder Mortgagee shall enter and take possession of the mortgaged premises Mortgaged Property for the purpose of foreclosing a mortgageMortgage. Upon entry for the purpose of foreclosing a mortgage, such holder Mortgagee shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry)Landlord, provided that a discontinuance of any foreclosure proceeding shall terminate be deemed a conveyance to the liability owner of the holder as Landlordequity of the Mortgaged Property.

Appears in 1 contract

Samples: Lease Agreement (Pharmaceutical Product Development Inc)

LIMITATION ON MORTGAGEE'S LIABILITY. Upon entry and taking possession of the mortgaged premises Premises for any purpose other than foreclosurepurpose, the holder of a mortgage shall have all rights of LandlordLandlord and, and during the period of such possessionpossession or ownership, shall also have the duty to perform all Landlord’s 's obligations hereunder. Except during such period of possessionpossession and from and after Foreclosure (as defined in Exhibit E), no such holder shall be liable, either as mortgagee or as holder of a collateral assignment of this Lease, to perform, or be liable in damages for failure to perform perform, any of the obligations of Landlord Landlord, unless and until such holder shall enter and take possession of the mortgaged premises Mortgaged Premises for the purpose of foreclosing a mortgage. Upon entry for the purpose of foreclosing a mortgage, such holder shall be liable to perform all of the obligations of Landlord accruing after said entry (including performance of obligations arising prior to said entry), provided that a discontinuance of any foreclosure proceeding shall terminate the liability of the holder as Landlord.

Appears in 1 contract

Samples: Lease Agreement (Netscout Systems Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!