Common use of No Assumption or Modification Clause in Contracts

No Assumption or Modification. The Security Interest is given to secure the prompt, unconditional and complete payment and performance of the Obligation when due, and is given as security only. Agent does not assume and shall not be liable for any of Assignor's liabilities, duties, or obligations under or in connection with the Collateral. Agent's acceptance of this Assignment, or its taking any action in carrying out this Assignment, does not constitute Agent's approval of the Collateral or Agent's assumption of any obligation under or in connection with the Collateral. This Assignment does not affect or modify Assignor's obligations with respect to the Collateral.

No Assumption or Modification. The Security Interest is given to secure the prompt, unconditional and complete payment and performance of the Obligation when due, and is given as security only. Agent does not assume and shall not be liable for any of AssignorBorrower's liabilities, duties, or obligations under or in connection with the Collateral. Agent's acceptance of this AssignmentPledge Agreement, or its taking any action in carrying out this AssignmentPledge Agreement, does not constitute Agent's approval of the Collateral or Agent's assumption of any obligation under or in connection with the Collateral. This Assignment Pledge Agreement does not affect or modify AssignorBorrower's obligations with respect to the Collateral.