Common use of No Joint Venture or Partnership; No Third Party Beneficiaries Clause in Contracts

No Joint Venture or Partnership; No Third Party Beneficiaries. (a) Borrower, Leasehold Pledgor and Lender intend that the relationships created hereunder and under the other Loan Documents be solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common or joint tenancy relationship among Borrower, Leasehold Pledgor and Lender nor to grant Lender any interest in the Collateral other than that of lender. (b) The Loan Documents are solely for the benefit of Lender, Leasehold Pledgor and Borrower (and the Lender Group, the Issuer and the Underwriter Group with respect to Section 9.2(b)) and nothing contained in any Loan Document shall be deemed to confer upon anyone other than Lender, Leasehold Pledgor and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

Appears in 4 contracts

Samples: Mezzanine Loan Agreement (Hospitality Investors Trust, Inc.), Mezzanine Loan Agreement (Hospitality Investors Trust, Inc.), Mezzanine Loan Agreement (Hospitality Investors Trust, Inc.)

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No Joint Venture or Partnership; No Third Party Beneficiaries. (a) Borrower, Leasehold Pledgor Operating Lessee and Lender intend that the relationships created hereunder and under the other Loan Documents be solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common or joint tenancy relationship among Borrower, Leasehold Pledgor Operating Lessee and Lender nor to grant Lender any interest in the Collateral any Individual Property other than that of mortgagee, beneficiary or lender. (b) The Loan Documents are solely for the benefit of Lender, Leasehold Pledgor Operating Lessee and Borrower (and the Lender Group, the Issuer and the Underwriter Group with respect to Section 9.2(b)) and nothing contained in any Loan Document shall be deemed to confer upon anyone other than Lender, Leasehold Pledgor Operating Lessee and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

Appears in 3 contracts

Samples: Loan Agreement (Hospitality Investors Trust, Inc.), Loan Agreement (Hospitality Investors Trust, Inc.), Loan Agreement (Hospitality Investors Trust, Inc.)

No Joint Venture or Partnership; No Third Party Beneficiaries. (a) Borrower, Leasehold Pledgor Borrower and Lender Agent (on behalf of Lenders) intend that the relationships created hereunder and under the other Loan Documents be solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common or joint tenancy relationship among between Borrower, Leasehold Pledgor and Agent and/or any Lender nor or to grant Agent and/or any Lender any interest in the Collateral Properties other than that of mortgagee, beneficiary or lender. (ba) The Loan Documents are solely for the benefit of Lender, Leasehold Pledgor Agent (on behalf of Lenders) and Borrower (and the Lender Group, the Issuer and the Underwriter Group with respect to Section 9.2(b)) and nothing contained in any Loan Document shall be deemed to confer upon anyone other than Lenderthe Agent, Leasehold Pledgor Lenders and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

Appears in 3 contracts

Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.)

No Joint Venture or Partnership; No Third Party Beneficiaries. (a) Borrower, Leasehold Pledgor Borrower and Lender Agent (on behalf of Lenders) intend that the relationships created hereunder and under the other Loan Documents be solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common or joint tenancy relationship among between Borrower, Leasehold Pledgor and Agent and/or any Lender nor or to grant Agent and/or any Lender any interest in the Properties or Collateral other than that of secured party, beneficiary or lender. (ba) The Loan Documents are solely for the benefit of Lender, Leasehold Pledgor Agent (on behalf of Lenders) and Borrower (and the Lender Group, the Issuer and the Underwriter Group with respect to Section 9.2(b)) and nothing contained in any Loan Document shall be deemed to confer upon anyone other than Lenderthe Agent, Leasehold Pledgor Lenders and Borrower any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

Appears in 2 contracts

Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.), Mezzanine Loan Agreement (Clipper Realty Inc.)

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No Joint Venture or Partnership; No Third Party Beneficiaries. (a) BorrowerBorrowers, Leasehold Pledgor Operating Lessees and Lender intend that the relationships created hereunder and under the other Loan Documents be solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy-in-common or joint tenancy relationship among Borrowerbetween Borrowers, Leasehold Pledgor Operating Lessees and Lender nor or to grant Lender any interest in the Collateral Properties other than that of mortgagee, beneficiary or lender. (ba) The Loan Documents are solely for the benefit of Lender, Leasehold Pledgor Borrowers and Borrower Operating Lessees (and the Lender Group, the Issuer and the Underwriter Group with respect to Section 9.2(b)) and nothing contained in any Loan Document shall be deemed to confer upon anyone other than the Lender, Leasehold Pledgor Borrowers and Borrower Operating Lessees any right to insist upon or to enforce the performance or observance of any of the obligations contained therein.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

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