The Collateral Agent in Possession Clause Samples

The Collateral Agent in Possession. The Collateral Agent’s acceptance of this assignment shall not, prior to entry upon and taking possession of the Mortgaged Property by the Collateral Agent, be deemed to constitute the Collateral Agent a “mortgagee in possession,” nor obligate the Collateral Agent to appear in or defend any proceedings relating to any of the Leases or to the Mortgaged Property, take any action hereunder, expend any money, incur any expenses, or perform any obligation or liability under the Leases, or assume any obligation for any deposits delivered to Grantor by any tenant and not delivered to the Collateral Agent. The Collateral Agent shall not be liable for any injury or damage to any person or property in or about the Mortgaged Property.