Common use of No liability as mortgagee in possession Clause in Contracts

No liability as mortgagee in possession. Neither the Security Trustee nor any Receiver shall be liable to account as a mortgagee or heritable creditor 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 or heritable creditor might otherwise be liable.

No liability as mortgagee in possession. Neither the Security Trustee nor any Receiver shall be liable to account as a mortgagee or heritable creditor 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 or heritable creditor might otherwise be liable.