Common use of Mortgagee in Possession Clause in Contracts

Mortgagee in Possession. If the Mortgagee exercises any of its rights hereunder, or goes into possession of the Lands or any part thereof for any purpose under the powers conferred upon it by this mortgage or by law, it will not be deemed to be a mortgagee in possession nor responsible in any way for anything other than monies actually received by it.

Mortgagee in Possession. If the Mortgagee exercises any of its rights hereunder, or goes into possession of the Lands or any part thereof Premises for any purpose under the powers conferred upon it by this mortgage or by law, it will not be deemed to be a mortgagee in possession nor responsible in any way for anything other than monies actually received by it.