Common use of Assumptions Regarding Structure Clause in Contracts

Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgement and agreement that each Borrower is an investment portfolio of a Fund and is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, any such Fund is executing this Agreement and each respective Note on behalf of its investment portfolios, as Borrowers, and that such investment portfolios, as Borrowers, and that such investment portfolios will utilize the Loans thus made on their behalf. Notwithstanding anything to the contrary in this Agreement, each Borrower shall be liable hereunder only for the Loans made to such Borrower hereunder and interest thereon and for the fees and expenses associated therewith and as otherwise set forth herein, and in no event shall any Borrower or its assets be held liable for the Loans made to any other Borrower hereunder or interest thereon or for the fees and expenses associated therewith.

Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgement acknowledgment and agreement that each Borrower that is an investment portfolio of a Fund and is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, any such Fund is executing this Agreement and each respective Note on behalf of its investment portfolios, as Borrowers, and that such investment portfolios, as Borrowers, and that such investment portfolios will utilize the Loans thus made on their behalf. Notwithstanding anything to the contrary in this Agreement, each Borrower (including without limitation each Fund that is itself a Borrower) shall be liable hereunder only for the Loans made to such Borrower hereunder and interest thereon and for the fees and expenses associated therewith and as otherwise set forth herein, and in no event shall any Borrower or its assets be held liable for the Loans made to any other Borrower hereunder or interest thereon or for the fees and expenses associated therewith.

Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgement and agreement that each Borrower is an investment portfolio of a Fund and is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and, for these reasons, any such Fund is executing this Agreement and each respective Note on behalf of its investment portfolios, as Borrowers, and that such investment portfolios, as Borrowers, and that such investment portfolios will utilize the Loans thus made on their behalf. Notwithstanding anything to the contrary in this Agreement, each Borrower shall be liable hereunder only for the Loans made to such Borrower hereunder and interest thereon and for the fees and expenses associated therewith and as otherwise set forth herein, and in no event shall any Borrower or its assets be held liable for the Loans made to any other Borrower hereunder or interest thereon or for the fees and expenses associated therewith.