Common use of Not a Joint Venture Clause in Contracts

Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' ownership of interests in the Loan, nor any agreement to share in profits or losses arising as a result of the Loan, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender and Lender, or (b) the creation of a loan transaction between the Lead Lender, as borrower, and Lender, as lender. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender in connection with the Loan or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender no duty except as specifically set forth in this Agreement, and no Lender shall be liable to any other person for the liability of any other Lender arising in connection with the Loan or any transaction related to the Loan, except as may be expressly set forth in this Agreement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Realty Trust II, Inc), Intercreditor Agreement (Vestin Fund Iii LLC), Intercreditor Agreement (Vestin Fund Ii LLC)

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Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' ’ several ownership of interests in the LoanLoans, nor any agreement to share in profits or losses arising as a result of the LoanLoans, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender Lenders and LenderLenders, or (b) the creation of a loan transaction between the Lead LenderLenders, as borrowerlender, and Lender, as lenderborrower. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender Lenders in connection with the Loan Loans or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender Lenders no duty except as specifically set forth in this Agreement, and no Lender lender shall be liable to any other person for the liability of any other Lender lender arising in connection with the Loan Loans or any transaction related to the LoanLoans, except as may be expressly set forth in this Agreement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Realty Mortgage I, Inc.), Intercreditor Agreement (Vestin Fund Iii LLC), Intercreditor Agreement (Vestin Realty Mortgage II, Inc)

Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' several ownership of interests in the LoanLoans, nor any agreement to share in profits or losses arising as a result of the LoanLoans, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender Lenders and LenderLenders, or (b) the creation of a loan transaction between the Lead LenderLenders, as borrower, and Lender, as lender. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender Lenders in connection with the Loan Loans or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender Lenders no duty except as specifically set forth in this Agreement, and no Lender lender shall be liable to any other person for the liability of any other Lender lender arising in connection with the Loan Loans or any transaction related to the LoanLoans, except as may be expressly set forth in this Agreement.

Appears in 3 contracts

Samples: Intercreditor Agreement (Vestin Realty Trust II, Inc), Intercreditor Agreement (Vestin Fund I LLC), Intercreditor Agreement (Vestin Fund Iii LLC)

Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' several ownership of interests in the LoanLoans, nor any agreement to share in profits or losses arising as a result of the LoanLoans, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender Lenders and LenderLenders, or (b) the creation of a loan transaction between the Lead LenderLenders, as borrower, borrower and Lender, as lender. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender Lenders in connection with the Loan Loans or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender Lenders no duty except as specifically set forth in this Agreement, and no Lender lender shall be liable to any other person for the liability of any other Lender lender arising in connection with the Loan Loans or any transaction related to the LoanLoans, except as may be expressly set forth in this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Vestin Group Inc), Intercreditor Agreement (Vestin Group Inc)

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Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' ’ several ownership of interests in the LoanLoans, nor any agreement to share in profits or losses arising as a result of the LoanLoans, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender Lenders and LenderLenders, or (b) the creation of a loan transaction between the Lead LenderLenders, as borrowerlender, and Lender, as lenderborrower. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender Lenders in connection with the Loan Loans or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender Lenders no duty except as specifically set forth in this Agreement, and no Lender lender shall be liable to any other person for the liability of any other Lender lender arising in connection with the Loan Loans or any transaction related to the LoanLoans, except as may be expressly set forth in this Agreement.

Appears in 2 contracts

Samples: Intercreditor Agreement (Vestin Fund Ii LLC), Intercreditor Agreement (Vestin Fund I LLC)

Not a Joint Venture. Neither the execution of this Agreement nor the Lenders' several ownership of interests in the LoanLoans, nor any agreement to share in profits or losses arising as a result of the LoanLoans, is intended to be, nor shall it be construed to be: (a) the formation of a partnership or joint venture between the Lead Lender Lenders and LenderLenders, or (b) the creation of a loan transaction between the Lead LenderLenders, as borrowerlender, and Lender, as lenderborrower. Vestin Mortgage, in its capacity as Lead Lender, shall not be deemed to be a trustee for the Lender Lenders in connection with the Loan Loans or their interests therein. Vestin Mortgage, in its capacity as Lead Lender, shall owe to the Lender Lenders no duty except as specifically set forth in this Agreement, and no Lender lender shall be liable to any other person for the liability of any other Lender lender arising in connection with the Loan Loans or any transaction related to the LoanLoans, except as may be expressly set forth in this Agreement.

Appears in 1 contract

Samples: Intercreditor Agreement (Vestin Realty Mortgage II, Inc)

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