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Shoulder to lean on


This Agreement is made for the sole benefit of Borrower and Lenders (and Lenders’ successors and permitted assigns), and no other person or persons shall have any benefits, rights or remedies under or by reason of this Agreement, or by reason of any actions taken by Lenders pursuant to this Agreement.

  • Lenders shall not be liable to any contractors, agent, or other party for services performed or with this loan.
  • Lenders shall not be liable for any debts or claims accruing in favor of any such parties against Borrower or others or against the Project.
  • Borrower is not and shall not be an agent of Lenders for any purposes. Except as expressly set forth in the Loan Documents.
  • Lenders is not and shall not be an agent of Borrower for any purposes.
  • Lenders, by making the Loan or taking any action pursuant to any of the Loan Documents, shall not be deemed a partner or a joint venturer with Borrower or fiduciary of Borrower.
  • Borrower shall indemnify and hold Lenders harmless from and against any and all reasonable expenses of defending or settling any such claims or demands and all fees and disbursements of legal counsel engaged or employed by Lenders in defending and settling such claims or demands resulting from such a construction of the parties and their relationship.
  • Lenders shall not be deemed to be in privity of contract with any contractor or provider of services to the Project, nor shall any payment of funds directly to a contractor or subcontractor or provider of services be deemed to create any third-party beneficiary status or recognition of same by the Lenders.