PLEDGEE NOT BOUND. (a) This Agreement shall not be construed as creating a partnership or joint venture agreement between the Pledgee and the Pledgor. (b) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges and authority so created, shall not at any time or in any event obligate the Pledgee to perform or discharge any obligation of the Pledgor or to appear in or defend any action or proceeding relating to the Collateral; or to take any action hereunder, or to expend any money or incur any expenses or perform or discharge any obligation, duty or liability under the Collateral.
Appears in 2 contracts
Sources: Revolving Credit Agreement (TPG Specialty Lending, Inc.), Revolving Credit Agreement (TPG Specialty Lending, Inc.)