Limited Recourse Provision. Beneficiary shall have no recourse against, nor shall there be any personal liability to, the members of Grantor, or to any shareholders, members, partners, beneficial interest holders or any other entity or person in the ownership (directly or indirectly) of Grantor with respect to the obligations of Grantor and Guarantor under the Loan. For purposes of clarification, in no event shall the above language limit, reduce or otherwise affect Grantor’s liability or obligations under the Loan Documents, Guarantor’s liability or obligations under the Guaranty, or Beneficiary’s right to exercise any rights or remedies against any collateral securing the Loan.
Appears in 9 contracts
Samples: Security Agreement (KBS Real Estate Investment Trust III, Inc.), KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust II, Inc.
Limited Recourse Provision. Beneficiary shall have no recourse against, nor shall there be any personal liability to, the members of GrantorGrantor , or to any shareholders, members, partners, beneficial interest holders or any other entity or person in the ownership (directly or indirectly) of Grantor with respect to the obligations of Grantor and Guarantor under the Loan. For purposes of clarification, in no event shall the above language limit, reduce or otherwise affect Grantor’s liability or obligations under the Loan Documents, Guarantor’s liability or obligations under the Guaranty, or Beneficiary’s right to exercise any rights or remedies against any collateral securing the Loan.
Appears in 2 contracts
Samples: Assignment, Security Agreement (KBS Strategic Opportunity REIT, Inc.), KBS Strategic Opportunity REIT, Inc.
Limited Recourse Provision. Beneficiary shall have no recourse against, nor shall there be any personal liability to, the members of Grantor, or to any shareholders, members, partners, beneficial interest holders or any other entity or person in the ownership (directly or indirectly) of Grantor with respect to the obligations of Grantor and Guarantor under the Loan. For purposes of clarification, in no event shall the above language limit, reduce or otherwise affect Grantor’s 's liability or obligations under the Loan Documents, Guarantor’s 's liability or obligations under the Guaranty, or Beneficiary’s 's right to exercise any rights or remedies against any collateral securing the Loan.
Appears in 1 contract
Samples: Security Agreement (KBS Real Estate Investment Trust II, Inc.)
Limited Recourse Provision. Beneficiary shall have no recourse against, nor shall there be any personal liability to, the members of Grantor, or to any shareholders, members, partners, beneficial interest holders or any other entity or person in the ownership (directly or indirectly) of Grantor with respect to the obligations of Grantor and Guarantor under the Loan. For purposes of clarification, in no event shall the above language limit, reduce or otherwise affect Grantor’s liability or obligations under the Loan Documents, Guarantor’s liability or obligations under the Guaranty, or Beneficiary’s right to exercise any rights or remedies against any collateral securing the Loan.. 201803664
Appears in 1 contract