Common use of No liability as mortgagee in possession Clause in Contracts

No liability as mortgagee in possession. Neither the Collateral Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.

No liability as mortgagee in possession. Neither the Collateral Agent Chargee nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.

No liability as mortgagee in possession. Neither the Collateral Administrative Agent nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.

No liability as mortgagee in possession. Neither the Collateral Agent Chargee nor any Receiver shall be liable to account as a mortgagee in possession in respect of all or any part of the Charged Property Assets or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property Assets to which a mortgagee in possession might otherwise be liable, except for cases of gross negligence, wilful misconduct, fraud or dishonesty.