Common use of Mortgaged Property Acknowledgment Clause in Contracts

Mortgaged Property Acknowledgment. Each Lender by making or acquiring a Loan or interest therein or issuing a Letter of Credit acknowledges that (x) any Mortgage encumbering any Mortgaged Property hereunder was or will be entered into without consultation with local counsel in the jurisdiction where such Mortgaged Property is located and (y) no title insurance policies were or will be obtained with respect to any Mortgages encumbering any Mortgaged Property. Consequently, there is a substantial risk that the Mortgages encumbering any such Mortgaged Property may be invalid or ineffective under applicable law and, in such event, the Lenders would not have any recovery as a secured creditor or under any title insurance policy with respect thereto. Each Lender agrees that neither the Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Documentations Agents, the Syndication Agent, the Borrower (and its Subsidiaries) nor any of their officers, directors, agents, attorneys, affiliates or other representatives shall have any liability to any Lender as a result of the foregoing.

Mortgaged Property Acknowledgment. Each Lender by making or acquiring a Loan or interest therein or issuing a Letter of Credit acknowledges that (x) any Mortgage the Mortgages encumbering any certain of the Mortgaged Property Properties hereunder was or will be entered into without consultation with local counsel in the jurisdiction where such Mortgaged Property is located and (y) that no title insurance policies or surveys were or will be obtained with respect to any the Mortgages encumbering any the Leased Mortgaged PropertyProperties. Consequently, there is a substantial risk that the Mortgages encumbering any such Mortgaged Property may be invalid or ineffective under applicable law and, in such eventthat with respect to the Leased Mortgaged Properties, the Lenders would not have any recovery as a secured creditor or under any title insurance policy with respect thereto. Each Lender agrees that neither the Administrative Agent, the Collateral Agent, the Syndication Agent, the Documentation Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Documentations Agents, the Syndication Agent, the Parent Borrower (and its Subsidiaries) nor any of their officers, directors, agents, attorneys, affiliates attorneys or other representatives shall have any liability to any Lender as a result of the foregoing.

Mortgaged Property Acknowledgment. Each Lender by making or acquiring a Loan or interest therein or issuing a Letter of Credit acknowledges that (x) any Mortgage encumbering any Mortgaged Property hereunder was or will be entered into without consultation with local counsel in the jurisdiction where such Mortgaged Property is located and (y) no title insurance policies were or will be obtained with respect to any Mortgages encumbering any Mortgaged Property. Consequently, there is a substantial risk that the Mortgages encumbering any such Mortgaged Property may be invalid or ineffective under applicable law and, in such event, the Lenders would not have any recovery as a secured creditor or under any title insurance policy with respect thereto. Each Lender agrees that neither the Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Co-Documentations Agents, the Syndication Agent, the Borrower (and its Subsidiaries) nor any of their officers, directors, agents, attorneys, affiliates or other representatives shall have any liability to any Lender as a result of the foregoing.

Mortgaged Property Acknowledgment. Each Lender by making or acquiring a Loan or interest therein or issuing a Letter of Credit acknowledges that (x) any Mortgage the Mortgages encumbering any Mortgaged Property certain of the Mort- gaged Properties hereunder was or will be entered into without consultation with local counsel in the jurisdiction where such Mortgaged Property is located and (y) that no title insurance policies or surveys were or will be obtained with respect to any the Mortgages encumbering any the Leased Mortgaged PropertyProperties. Consequently, there is a substantial risk that the Mortgages encumbering any such Mortgaged Property may be invalid or ineffective under applicable law and, in such eventthat with respect to the Leased Mortgaged Properties, the Lenders would not have any recovery as a secured se- cured creditor or under any title insurance policy with respect thereto. Each Lender agrees that neither the Administrative Adminis- trative Agent, the Collateral Agent, the Syndication Agent, the Documentation Agent, the Joint Lead Arrangers, the Joint Bookrunners, the Documentations Agents, the Syndication Agent, the Parent Borrower (and its Subsidiaries) nor any of their officers, directors, agents, attorneys, affiliates attorneys or other representatives shall have any liability to any Lender as a result of the foregoing.