No Third Party. This Agreement is made for the sole benefit of Borrower and Lender and Lender’s successors and assigns, and no other person or persons shall have any rights or remedies under or by reason of this Agreement or any right to the exercise of any right or power hereunder or arising from any default, nor shall Lender owe any duty whatsoever to any claimant for labor performed or materials furnished in connection with the construction of the improvements to apply any undisbursed portion of the Loan to the payment of any such claims.
Appears in 5 contracts
Samples: Senior Mezzanine Loan Agreement (Behringer Harvard Multifamily Reit I Inc), Senior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Junior Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
No Third Party. This Agreement is made for the sole benefit of Borrower and Lender Agent and Lender’s Lenders and each of their successors and assigns, and no other person or persons shall have any rights or remedies under or by reason of this Agreement or any right to the exercise of any right or power of Agent and the Lenders hereunder or arising from any defaultdefault by Borrower, nor shall Lender Agent and/or the Lenders owe any duty whatsoever to any claimant for labor performed or materials furnished in connection with the construction of the improvements furnished, to apply any undisbursed portion of the Loan to the payment of any such claims.
Appears in 2 contracts
Samples: Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Loan Agreement (KBS Strategic Opportunity REIT, Inc.)
No Third Party. This Agreement is made for the sole benefit of Borrower Borrowers and Lender and Lender’s successors and assigns, and no other person or persons shall have any rights or remedies under or by reason of this Agreement or any right to the exercise of any right or power of Lender hereunder or arising from any defaultdefault by Borrowers, nor shall Lender owe any duty whatsoever to any claimant for labor performed or materials furnished in connection with the construction of the improvements to apply any undisbursed portion of the Loan to the payment of any such claims.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Mezzanine Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
No Third Party. This Agreement is made for the sole benefit of Borrower and Lender and Lender’s successors and assigns, and no other person or persons shall have any rights or remedies under or by reason of this Agreement or any right to the exercise of any right or power of Lender hereunder or arising from any defaultEvent of Default by Borrower, nor shall Lender owe any duty whatsoever to any claimant for labor performed or materials furnished in connection with the construction of the improvements Renovation Work to apply any undisbursed portion of the Loan to the payment of any such claims.
Appears in 1 contract
Samples: Loan Agreement (KBS Real Estate Investment Trust, Inc.)
