Debtor and Creditor Clause Samples

Debtor and Creditor. Textron and Borrower intend that the relationship between them be that of creditor and debtor only. Nothing herein nor the acts of the parties hereto shall be construed to create a co-tenancy, partnership, joint venture or similar relationship between Borrower and Textron. Textron shall have no responsibility whatsoever for the debts, losses, obligations or duties of Borrower or the Golf Property. Borrower hereby indemnifies Textron and agrees to defend and hold Textron harmless from and against any liability, claim, demand, obligation, assessment, loss, cost, damage or expense of any nature whatsoever (including, without limitation, any and all judgments, decrees, settlements, awards, costs, expenses, attorneys’ fees and court costs), which are incurred, sustained, suffered, asserted or assessed against Textron as a result of any claim, action suit or proceeding in which it is alleged that Textron has liability to any person or entity because Textron and Borrower have a relationship other than or in addition to that of creditor and debtor. The provisions of this Section 12 shall survive the repayment of the Loan.