Common use of No Liability of Beneficiary Clause in Contracts

No Liability of Beneficiary. Neither the acceptance hereof nor the exercise of the rights and remedies hereunder nor any other action on the part of Beneficiary or any Person exercising the rights of Beneficiary or any Lender hereunder shall be construed to: (a) be an assumption by Beneficiary or any such Person or to otherwise make Beneficiary or such Person liable or responsible for the performance of any of the obligations of Trustor under or with respect to the Leases or for any Rent, security deposit or other amount delivered to Trustor, provided that Beneficiary or any such Person exercising the rights of Beneficiary shall be accountable for any Rents, security deposits or other amounts actually received by Beneficiary or such Person, as the case may be; or (b) obligate Beneficiary or any such Person to take any action under or with respect to the Leases or with respect to the Trust Property, to incur any expense or perform or discharge any duty or obligation under or with respect to the Leases or with respect to the Trust Property, to appear in or defend any action or proceeding relating to the Leases or the Trust Property, to constitute Beneficiary as a mortgagee-in-possession (unless Beneficiary actually enters and takes possession of the Trust Property), or to be liable in any way for any injury or damage to Persons or property sustained by any Person in or about the Trust Property, other than to the extent caused by the willful misconduct or gross negligence of Beneficiary or any Person exercising the rights of Beneficiary hereunder.

No Liability of Beneficiary. Neither the acceptance hereof nor the exercise of the rights and remedies hereunder nor any other action on the part of Beneficiary or any Person exercising the rights of Beneficiary or any Lender Holder hereunder shall be construed to: (a) be an assumption by Beneficiary or any such Person or to otherwise make Beneficiary or such Person liable or responsible for the performance of any of the obligations of Trustor under or with respect to the Leases or for any Rent, security deposit or other amount delivered to Trustor, provided that Beneficiary or any such Person exercising the rights of Beneficiary shall be accountable for any Rents, security deposits or other amounts actually received by Beneficiary or such Person, as the case may be; or (b) obligate Beneficiary or any such Person to take any action under or with respect to the Leases or with respect to the Trust Property, to incur any expense or perform or discharge any duty or obligation under or with respect to the Leases or with respect to the Trust Property, to appear in or defend any action or proceeding relating to the Leases or the Trust Property, to constitute Beneficiary as a mortgagee-in-possession (unless Beneficiary actually enters and takes possession of the Trust Property), or to be liable in any way for any injury or damage to Persons or property sustained by any Person in or about the Trust Property, other than to the extent caused by the bad faith, willful misconduct or gross negligence of Beneficiary or any Person exercising the rights of Beneficiary hereunder. In connection with its appointment and acting hereunder, Beneficiary is otherwise entitled to all rights, privileges, protections, benefits, immunities and indemnities provided to it as Trustee and Collateral Agent under the Security Documents.

No Liability of Beneficiary. Neither the Beneficiary’s acceptance hereof of this assignment shall not be deemed to constitute Beneficiary a “mortgagee in possession,” nor the exercise of the rights and remedies hereunder nor obligate Beneficiary to appear in or defend any other action on the part of Beneficiary or proceeding relating to any Person exercising the rights of Beneficiary or any Lender hereunder shall be construed to: (a) be an assumption by Beneficiary or any such Person Lease or to otherwise make Beneficiary the Mortgaged Property, or such Person liable or responsible for the performance of any of the obligations of Trustor under or with respect to the Leases or for any Rent, security deposit or other amount delivered to Trustor, provided that Beneficiary or any such Person exercising the rights of Beneficiary shall be accountable for any Rents, security deposits or other amounts actually received by Beneficiary or such Person, as the case may be; or (b) obligate Beneficiary or any such Person to take any action hereunder, expend any money, incur any expenses, or perform any obligation or liability under any Lease, or with respect assume any obligation for any deposit delivered to Trustor by any tenant and not as such delivered to and accepted by Beneficiary. Beneficiary shall not be liable for any injury or damage to person or property in or about the Leases or with respect to the Trust Mortgaged Property, or for Beneficiary’s failure to incur collect or to exercise diligence in collecting Rents, but shall be accountable only for Rents that it shall actually receive. Neither the assignment of Leases and Rents nor enforcement of Beneficiary’s rights regarding Leases and Rents (including collection of Rents) nor possession of the Mortgaged Property by Beneficiary or by a keeper appointed at Beneficiary’s request nor Beneficiary’s consent to or approval of any expense or perform or discharge Lease (nor all of the same), shall render Beneficiary liable on any duty or obligation under or with respect to any Lease or constitute affirmation of, or any subordination to, any Lease, occupancy, use or option. If Beneficiary seeks or obtains any judicial relief regarding Rents or Leases, the Leases same shall in no way prevent the concurrent or subsequent employment of any other appropriate rights or remedies nor shall same constitute an election of judicial relief for any foreclosure or any other purposes. Beneficiary neither has nor assumes any obligations as lessor or landlord with respect to the Trust Property, to appear in or defend any action or proceeding relating to the Leases or the Trust Property, to constitute Beneficiary as a mortgagee-in-possession (unless Beneficiary actually enters and takes possession of the Trust Property), or to be liable in any way for any injury or damage to Persons or property sustained by any Person in or about the Trust Property, other than to the extent caused by the willful misconduct or gross negligence of Beneficiary or any Person exercising the Lease. The rights of Beneficiary hereunderunder this Article 3 shall be cumulative of all other rights of Beneficiary under the Credit Documents or otherwise.

No Liability of Beneficiary. Neither the Beneficiary’s acceptance hereof of this assignment shall not be deemed to constitute Beneficiary a “mortgagee in possession,” nor the exercise of the rights and remedies hereunder nor obligate Beneficiary to appear in or defend any other action on the part of Beneficiary or proceeding relating to any Person exercising the rights of Beneficiary or any Lender hereunder shall be construed to: (a) be an assumption by Beneficiary or any such Person Lease or to otherwise make Beneficiary the Mortgaged Property, or such Person liable or responsible for the performance of any of the obligations of Trustor under or with respect to the Leases or for any Rent, security deposit or other amount delivered to Trustor, provided that Beneficiary or any such Person exercising the rights of Beneficiary shall be accountable for any Rents, security deposits or other amounts actually received by Beneficiary or such Person, as the case may be; or (b) obligate Beneficiary or any such Person to take any action hereunder, expend any money, incur any expenses, or perform any obligation or liability under any Lease, or with respect assume any obligation for any deposit delivered to Grantor by any tenant and not as such delivered to and accepted by Beneficiary. Beneficiary shall not be liable for any injury or damage to person or property in or about the Leases or with respect to the Trust Mortgaged Property, or for Beneficiary’s failure to incur collect or to exercise diligence in collecting Rents, but shall be accountable only for Rents that it shall actually receive. Neither the assignment of Leases and Rents nor enforcement of Beneficiary’s rights regarding Leases and Rents (including collection of Rents) nor possession of the Mortgaged Property by Beneficiary or by a keeper appointed at Beneficiary’s request nor Beneficiary’s consent to or approval of any expense or perform or discharge Lease (nor all of the same), shall render Beneficiary liable on any duty or obligation under or with respect to any Lease or constitute affirmation of, or any subordination to, any Lease, occupancy, use or option. If Beneficiary seeks or obtains any judicial relief regarding Rents or Leases, the Leases same shall in no way prevent the concurrent or subsequent employment of any other appropriate rights or remedies nor shall same constitute an election of judicial relief for any foreclosure or any other purposes. Beneficiary neither has nor assumes any obligations as lessor or landlord with respect to the Trust Property, to appear in or defend any action or proceeding relating to the Leases or the Trust Property, to constitute Beneficiary as a mortgagee-in-possession (unless Beneficiary actually enters and takes possession of the Trust Property), or to be liable in any way for any injury or damage to Persons or property sustained by any Person in or about the Trust Property, other than to the extent caused by the willful misconduct or gross negligence of Beneficiary or any Person exercising the Lease. The rights of Beneficiary hereunderunder this Article 3 shall be cumulative of all other rights of Beneficiary under the Credit Documents or otherwise.