Common use of No Obligation to Advance Clause in Contracts

No Obligation to Advance. The preparation, execution or registration of this Charge will not bind us to advance the Principal Amount, nor will the advance of a part of the Principal Amount bind us to advance or readvance any other portion of the Principal Amount, or allow you to make any other indebtedness or liability to us, but nevertheless the security on the Property shall take effect immediately on execution of this Charge by you.

No Obligation to Advance. The preparation, execution or registration of this Charge will not bind us to advance the Principal Amount, nor will the advance of a part of the Principal Amount bind us to advance or readvance any other portion of the Principal Amount, or allow you to make any other indebtedness or liability to us, us1 but nevertheless the security on the Property shall take effect immediately on execution of this Charge by you.

No Obligation to Advance. The preparation, execution or registration of this Charge will not bind us to advance the Principal Amount, nor will the advance of a part of the Principal Amount bind us to advance or readvance any other portion of the Principal Amount, or allow you to make any T1009809\TOR_LAW\ 9606619\1 other indebtedness or liability to us, but nevertheless the security on the Property shall take effect immediately on execution of this Charge by you.