Common use of Mortgagee’s Liability Clause in Contracts

Mortgagee’s Liability. No Mortgagee shall be deemed to have assumed or agreed to perform any of the Tenant’s obligations under this Ground Lease by reason of encumbering the Tenant’s interest in the Project Site, effecting a cure on the Tenant’s behalf under this Ground Lease, by any course of conduct, or otherwise, unless and to the extent such assumption is specifically agreed to in writing executed by such Mortgagee; provided, however, the Mortgagee shall be liable for the Tenant’s monetary obligations under this Ground Lease which are attributable to the period after such Mortgagee acquires the Tenant’s interest in this Ground Lease and before it assigns this Ground Lease to a third party; and provided further, the foregoing limitations of liability shall not be deemed to impair the District’s right to exercise its remedies as a result of a default under this Ground Lease. In no event shall Mortgagee be liable for any hazardous waste liability of the Tenant.

Mortgagee’s Liability. No Mortgagee shall be deemed to have assumed or agreed to perform any of the Tenant’s obligations under this Ground Lease by reason of encumbering the Tenant’s interest in the Project Site, effecting a cure on the Tenant’s behalf under this Ground Lease, by any course of conduct, or otherwise, unless and to the extent such assumption is specifically agreed to in writing executed by such Mortgagee; provided, however, the Mortgagee shall be liable for the Tenant’s monetary obligations under this Ground Lease which are attributable to the period after such Mortgagee acquires the Tenant’s interest in this Ground Lease and before it assigns this Ground Lease to a third party; and provided further, the foregoing limitations of liability shall not be deemed to impair the District’s right to exercise its remedies as a result of a default under this Ground Lease. In no event shall a Mortgagee be liable for any hazardous waste liability of the Tenant.

Mortgagee’s Liability. No Mortgagee shall be deemed to have assumed or agreed to perform any of the Tenant’s 's obligations under this Ground Lease by reason of encumbering the Tenant’s 's interest in the Project Site, effecting a cure on the Tenant’s 's behalf under this Ground Lease, by any course of conduct, or otherwise, unless and to the extent such assumption is specifically agreed to in writing executed by such Mortgagee; provided, however, the Mortgagee shall be liable for the Tenant’s 's monetary obligations under this Ground Lease which are attributable to the period after such Mortgagee acquires the Tenant’s 's interest in this Ground Lease and before it assigns this Ground Lease to a third party; and provided further, the foregoing limitations of liability shall not be deemed to impair the District’s 's right to exercise its remedies as a result of a default under this Ground Lease. In no event shall a Mortgagee be liable for any hazardous waste liability of the Tenant.