No pledge or credit Clause Samples

No pledge or credit. The OPERATOR covenants that it will not and nothing herein contained shall be deemed to authorise the OPERATOR to execute any notes, guarantees, loan agreements or other evidence of indebtedness or to borrow any money on behalf of OWNER. The OPERATOR further undertakes that it has no power or authority to enter into any mortgage, deed of trust, security arrangement or any other instrument (other than as specifically authorised herein) encumbering all or any part of the Hotel or any accounts or any other personal property arising from the Hotel or its operation.