Common use of Mortgagee in Possession Clause in Contracts

Mortgagee in Possession. Borrower hereby confirms and agrees that notwithstanding the provisions of this Agreement, Borrower retains sole control of the operation and maintenance of the Property, subject to the obligations of Borrower under the Deed of Trust, the Assignment of Leases and Rents and the other Loan Documents, and Lender is not and shall not be deemed to be a mortgagee in possession.

Appears in 5 contracts

Sources: Deed of Trust (MPG Office Trust, Inc.), Deed of Trust (Maguire Properties Inc), Deed of Trust (Maguire Properties Inc)

Mortgagee in Possession. Borrower hereby confirms and agrees that notwithstanding the provisions of this Agreement, Borrower retains sole control of the operation and maintenance of the Property, subject to the obligations of Borrower under the Deed of TrustLoan Agreement, the Assignment of Leases and Rents and the other Loan Documents, and Lender is not and shall not be deemed to be a mortgagee in possession.

Appears in 3 contracts

Sources: Loan Agreement (Maguire Properties Inc), Cash Management Agreement (Golf Ventures Inc), Cash Management Agreement (Golf Ventures Inc)

Mortgagee in Possession. Borrower hereby confirms and agrees that notwithstanding the provisions of this Agreement, Borrower retains sole control of the operation and maintenance of the Property, subject to the obligations of Borrower under the Deed of TrustMortgage, the Mortgage, the Assignment of Leases and Rents and the other Loan Documents, and Lender is not and shall not be deemed to be a mortgagee in possession.

Appears in 1 contract

Sources: Cash Management and Security Agreement (Emeritus Corp\wa\)

Mortgagee in Possession. Borrower hereby confirms and agrees that notwithstanding the provisions of this Agreement, Borrower retains sole control of the operation and maintenance of the Property, subject to the obligations of Borrower under the Deed of TrustMortgage, the Mortgage, the Assignment of Leases and Rents and the other Loan Documents, and Lender Holder is not and shall not be deemed to be a mortgagee in possession.

Appears in 1 contract

Sources: Cash Management Agreement (First Union Real Estate Equity & Mortgage Investments)