No Obligation of Secured Party. The assignment and security interest herein granted shall not be deemed or construed to constitute Agent or any Lender as a trustee or mortgagee in possession of the Collateral, to obligate Agent or any Lender to lease the Collateral or attempt to do same, or to take any action, incur any expense or perform or discharge any obligation, duty or liability whatsoever under any of the Leases or otherwise.
Appears in 3 contracts
Samples: Mortgage, Security Agreement (Morgans Hotel Group Co.), Security Agreement (Morgans Hotel Group Co.), Security Agreement (Morgans Hotel Group Co.)
No Obligation of Secured Party. The assignment and security interest herein granted shall not be deemed or construed to constitute Agent or any Lender other Secured Party as a trustee or mortgagee in possession of the Collateral, to obligate Agent or any Lender other Secured Party to lease the Collateral or attempt to do same, or to take any action, incur any expense or perform or discharge any obligation, duty or liability whatsoever under any of the Leases or otherwise.
Appears in 1 contract
Samples: Assignment and Acceptance Agreement (U-Store-It Trust)
