Common use of No Pledge or Loan Clause in Contracts

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by any one or more Holders to any one or more other Holders, or a loan from any one or more Holders to any one or more other Holders. The Note B Holder shall have not any interest in any property taken as security for the Mortgage Loan; provided, however, that if any such property or the proceeds thereof shall be applied in respect of payments due under the Mortgage Loan, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan Loans by any one or more Holders the Note A Holder to any one or more other Holdersthe Note B Holder, or a loan from any one or more Holders the Note B Holder to any one or more other Holdersthe Note A Holder. The Except as otherwise provided in this Agreement and the Servicing Agreement, the Note B Holder shall have not any no interest in any property taken as security for the Mortgage Loan; Loans, provided, however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall be applied in respect reduction of payments due under the Mortgage LoanLoan Principal Balance, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

No Pledge or Loan. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan Loans by any one or more Holders the Note A Holder to any one or more other Holdersthe Note B Holder, or a loan from any one or more Holders the Note B Holder to any one or more other Holdersthe Note A Holder. The Except as otherwise provided in this Agreement and the Servicing Agreement, the Note B Holder shall have not any no interest in any property taken as security for the Mortgage Loan; Loans, provided, however, that if any such property M-1-25 or the proceeds of any sale, lease or other disposition thereof shall be applied in respect reduction of payments due under the Mortgage LoanLoan Principal Balance, then the Note B Holder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.