Common use of Borrower Rights Clause in Contracts

Borrower Rights. The Borrower is a Party solely for the purpose of acknowledging the priorities, rights and obligations recorded in this Deed. Except for its rights to receive Proceeds under and in accordance with the provisions of Clause 5.2 (Application of Proceeds) and Clause 5.7 (Indemnity payments), the Borrower does not have any rights under this Deed and no undertaking is given (or deemed to be given) to, or for the benefit of, the Borrower. This Deed is governed by English Law.

Borrower Rights. The Borrower is a Party solely for the purpose of acknowledging the priorities, rights and obligations recorded in this Deed. Except for its rights to receive Proceeds under and in accordance with the provisions of Clause 5.2 (Application of Proceeds) and Clause 5.7 (Indemnity payments), the Borrower does not have any rights under this Deed and no undertaking is given (or deemed to be given) to, or for the benefit of, the Borrower. This Deed is governed by English Law.