Common use of Creditor-Debtor Relationship Clause in Contracts

Creditor-Debtor Relationship. Lender and Borrower intend that the relationship between them pursuant to this Agreement and each of the other Loan Documents shall be solely that of creditor and debtor. Nothing contained in this Agreement or in any other of the Loan Documents or any other document or instrument made in connection with the Loan, shall be deemed or construed to create, or to constitute, a partnership, tenancy-in-common, joint tenancy, joint venture or co-ownership by and between Lender and Borrower. Lender in no way shall be responsible or liable for the debts, losses, obligations, or duties of Borrower with respect to the Project or otherwise. All obligations to pay real property or other Taxes, assessments, insurance premiums and all other fees and charges arising from the ownership, operation or occupancy of the Project and to perform any agreements and contracts relating to the Project shall be the sole responsibility of Borrower. Borrower, at all times consistent with the terms and provisions of this Agreement and each of the other Loan Documents and any other document or instrument evidencing, securing or otherwise relating to the Loan, shall be free to determine and follow its own policies and practices in the conduct of its business on the Project.

Creditor-Debtor Relationship. Lender and Borrower intend that the relationship between them pursuant to this Agreement and each other of the other Loan Documents shall be solely that of creditor and debtor. Nothing contained in this Agreement or in any other of the Loan Documents or any other document or instrument made in connection with the Loan, shall be deemed or construed to create, or to constitute, a partnership, tenancy-in-common, joint tenancy, joint venture or co-ownership by and between Lender and Borrower. Lender in no way shall be responsible or liable for the debts, losses, obligations, or duties of Borrower with respect to the Project Property or otherwise. All obligations to pay real property or other Taxes, assessments, insurance premiums and all other fees and charges arising from the ownership, operation or occupancy of the Project Property and to perform any agreements and contracts relating to the Project Property shall be the sole responsibility of Borrower. Borrower, at all times consistent with the terms and provisions of this Agreement and each other of the other Loan Documents and any other document or instrument evidencing, securing or otherwise relating to the Loan, shall be free to determine and follow its own policies and practices in the conduct of its business on the ProjectProperty.