No Liability of Mortgagee. Neither the acceptance hereof nor the exercise of the rights and remedies hereunder nor any other action on the part of Mortgagee or any Person exercising the rights of Mortgagee or any Holder hereunder shall be construed to: (a) be an assumption by Mortgagee or any such Person or to otherwise make Mortgagee or such Person liable or responsible for the performance of any of the obligations of Mortgagor under or with respect to the Leases or for any Rent, security deposit or other amount delivered to Mortgagor, provided that Mortgagee or any such Person exercising the rights of Mortgagee shall be accountable for any Rents, security deposits or other amounts actually received by Mortgagee or such Person, as the case may be; or (b) obligate Mortgagee or any such Person to take any action under or with respect to the Leases or with respect to the Mortgaged 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 Mortgaged Property, to appear in or defend any action or proceeding relating to the Leases or the Mortgaged Property, to constitute Mortgagee as a mortgagee-in-possession (unless Mortgagee actually enters and takes possession of the Mortgaged 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 Mortgaged Property, other than to the extent caused by the gross negligence or willful misconduct of Mortgagee or any Person exercising the rights of Mortgagee hereunder.
No Liability of Mortgagee. The Mortgagee shall not be obliged to check the nature or sufficiency of any payment received by it under this Mortgage or to preserve, exercise or enforce any right relating to the Ship.
No Liability of Mortgagee. Tenant shall not be entitled to look to the mortgagee, as mortgagee, mortgagee in possession, or successor in title to the Demised Premises, for accountability for any Security Deposit required by Landlord hereunder, unless said sums have actually been received by said mortgagee as security for Tenant's performance of this Lease.
No Liability of Mortgagee. 12 23. Notices..............................................................12 24.
No Liability of Mortgagee. (a) The Mortgagee shall not be obliged to check the nature or sufficiency of any payment received by it under this Mortgage or to preserve, exercise or enforce any right relating to the Ship.
(b) In addition to, and without limiting, any exclusion or limitation of liability of any Creditor Party under any Finance Document, the Mortgagee shall not have any liability to any Security Party:
(i) for any loss caused by an exercise of, or failure to exercise, rights under or enforcement of, or failure to enforce any Security Interest created by this Mortgage;
(ii) as mortgagee-in-possession or otherwise, to account for any income or principal amount which might have been produced or realized from the Ship; or
(iii) as mortgagee-in-possession or otherwise, for any reduction in the value of the Ship.
No Liability of Mortgagee. Nothing in this instrument shall be construed as obligating Mortgagee to take any action or incur any liability with respect to the Security or any business conducted on the Mortgaged Property, and all options given to Mortgagee are for its exclusive benefit and may be exercised in its sole discretion.
No Liability of Mortgagee. It is further understood that this assignment of Rents and Leases shall not operate to place or impose any responsibility for the control, care, management or repair of the Property upon Mortgagee, nor for the performance of any of the terms and conditions of any Leases or other agreements assigned hereunder, nor shall it operate to make Mortgagee responsible or liable for any waste committed on the Property by the tenants or any other party or for any dangerous or defective condition of the Property or for any negligence in the management, upkeep, repair or control of the Property resulting in any loss or injury to any tenant, invitee, licensee, employee or stranger.
No Liability of Mortgagee. Notwithstanding anything contained in this Mortgage, this Mortgage is only intended as security for the Secured Obligations and Mortgagee shall not be obligated to perform or discharge, and do not hereby undertake to perform or discharge, any obligation, duty or liability of Mortgagor with respect to any of the Mortgaged Property. Unless and until Mortgagee takes actual possession of the Mortgaged Property, either through foreclosure, the taking of a deed in lieu thereof or otherwise, Mortgagee shall not have responsibility for the control, care, management or repair of the Mortgaged Property nor shall Mortgagee be responsible or liable for any negligence in the management, operation, upkeep, repair or control of the Mortgaged Property resulting in loss or injury or death to any licensee, employee, tenant or stranger or other Person. Mortgagor shall indemnify and hold harmless Mortgagee from and against any and all Losses incurred by Mortgagee in connection with any of the foregoing which are not the responsibility of Mortgagee in accordance with this Section.
No Liability of Mortgagee. It is expressly agreed that anything herein contained to the contrary notwithstanding, the Mortgagor shall remain liable under the other Operative Documents to perform all of the obligations assumed by it thereunder, all in accordance with and pursuant to the terms and provisions thereof, and the Mortgagee shall not have any obligation or liability under the other Operative Documents by reason of or arising out of the security interest created hereunder, nor shall the Mortgagee be required or obligated in any manner to perform or fulfill any obligations of the Mortgagor under or pursuant to the other Operative Documents to make any payment (except pursuant to the express terms of Article II), or to make any inquiry as to the nature or sufficiency of any payment received by it, or present or file any claim, or take any action to collect or enforce the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times.
No Liability of Mortgagee. Tenant shall not be entitled to look ------------------------- to the mortgagee, as mortgagee, mortgagee in possession, or successor in title to the Premises, for accountability for any security deposit required by Landlord hereunder unless said sums have actually been received by said mortgagee as security of Tenant's performance of this Lease.
