Common use of Mortgagee in Possession Clause in Contracts

Mortgagee in Possession. (a) Neither the Funding 1 Security Trustee nor any Receiver will be liable, by reason of Funding 1 Security or entering into possession of any Funding 1 Charged Property, to account as mortgagee or security holder in possession or for any loss on realisation or for any default or omission for which a mortgagee or security holder in possession might be liable. (b) Each of the Funding 1 Security Trustee, the other Funding 1 Secured Creditors and any Receiver will not take any action (other than, in the case of the other Funding 1 Secured Creditors, with the Funding 1 Security Trustee's prior written consent) which would be likely to lead to the Funding 1 Security Trustee or the other Funding 1 Secured Creditors becoming a mortgagee or security holder in possession in respect of any Funding 1 Charged Property.

Mortgagee in Possession. (a) Neither the Funding 1 2 Security Trustee nor any Receiver will be liable, by reason of Funding 1 2 Security or entering into possession of any a Funding 1 2 Charged Property, to account as mortgagee or security holder in possession or for any loss on realisation or for any default or omission for which a mortgagee or security holder in possession might be liable. (b) Each of the Funding 1 2 Security Trustee, the other Funding 1 2 Secured Creditors and any Receiver will not take any action (other than, in the case of the other Funding 1 2 Secured Creditors, with the Funding 1 2 Security Trustee's prior written consent) which would be likely to lead to the Funding 1 2 Security Trustee or the other Funding 1 2 Secured Creditors becoming a mortgagee or security holder in possession in respect of any Funding 1 2 Charged PropertyProperty .