Common use of Mortgagee in Possession Clause in Contracts

Mortgagee in Possession. (a) Neither the Master Issuer Security Trustee nor any Receiver will be liable, by reason of the Master Issuer Security or entering into possession of a Master Issuer Charged Property, to account as mortgagee or security holder in possession or for any loss on realisation or for any default or omission for which a mortgagee or security holder in possession might be liable.

Mortgagee in Possession. (a) Neither the Master Issuer Security Trustee nor any Receiver will be liable, by reason of the Master Issuer Security or entering into possession of a Master an Issuer Charged Property, to account as mortgagee or security holder in possession or for any loss on realisation or for any default or omission for which a mortgagee or security holder in possession might be liable.