Common use of No Pledge or Loan Clause in Contracts

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B Holders, or a loan from the Note B Holders to the Note A Holders. The Note B Holders shall not have any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders shall not be separate creditors of the Mortgage Loan Borrowers under the Bankruptcy Code.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B Holders, or a loan from the Note B Holders to the Note A Holders. The Note B Holders shall not have any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders shall not be separate creditors of the Mortgage Loan Borrowers Borrower under the Bankruptcy Code.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B HoldersHolder, or a loan from the Note B Holders Holder to the Note A Holders. The Note B Holders Holder shall not have any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders Holder shall not be a separate creditors creditor of the Mortgage Loan Borrowers Borrower under the Bankruptcy Code.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B Holders, or a loan from the Note B Holders to the Note A Holders. The Note B Holders shall not have any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder Holders shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders Holder shall not be a separate creditors creditor of the Mortgage Loan Borrowers under the Bankruptcy Code.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B HoldersHolder, or a loan from the Note B Holders Holder to the Note A Holders. The Note B Holders Holder shall not have any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders Holder shall not be a separate creditors creditor of the Mortgage Loan Borrowers Borrower under the Bankruptcy Code.. -51- Co-Lender AgreementUniversity Village

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Note A Holders to the Note B HoldersHolder, or a loan from the Note B Holders Holder to the Note A Holders. The Note B Holders Holder shall not have any Co-Lender Agreement (667 Madison Avenue) 60 interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement. The Holders acknowledge and agree that the Mortgage Loan represents a single “claim” under Section 101 of the Bankruptcy Code, and that the Note B Holders Holder shall not be a separate creditors creditor of the Mortgage Loan Borrowers Borrower under the Bankruptcy Code.