Pledgor Remains Liable. Anything herein to the contrary notwithstanding, (a) Pledgor shall remain liable to perform all of its duties and obligations as a member of each of the Owned LLC’s, and all of its duties and obligations as a limited partner of each of the Owned LP’s, to the same extent as if this Agreement had not been executed, (b) the exercise by Lender of any of its rights hereunder shall not release Pledgor from any of its duties or obligations as a member or limited partner, as applicable, of any Owned Company, and (c) Lender shall not have any obligation or liability as a member or limited partner, as applicable, of any Owned Company by reason of this Agreement.
Appears in 5 contracts
Samples: Pledge Agreement (Grubb & Ellis Apartment REIT, Inc.), Pledge Agreement (Grubb & Ellis Apartment REIT, Inc.), Pledge Agreement (Grubb & Ellis Apartment REIT, Inc.)
