No liability as mortgagee in possession. Neither the Collateral Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.
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Samples: Debenture (Global Crossing LTD), Debenture (Global Crossing Uk Telecommunications LTD), Debenture (Global Crossing (UK) Finance PLC)
No liability as mortgagee in possession. Neither the Collateral Agent nor any Receiver shall be liable to account as a mortgagee in shall, by reason of entering into possession in respect of all or any part of the Charged Property Collateral or taking any action permitted by this Debenture, be liable liable:
(a) to account as mortgagee in possession or for any loss upon realisation or on realisation; or
(b) for any neglect, default or omission in connection with the Charged Property to for which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.
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Samples: Credit and Guaranty Agreement (American Airlines, Inc.), First Amendment and Restatement Agreement (American Airlines Inc)
No liability as mortgagee in possession. Neither the Collateral Security Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation realization or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.
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No liability as mortgagee in possession. Neither the Collateral Administrative Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.
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