Common use of Assumptions Regarding Structure Clause in Contracts

Assumptions Regarding Structure. For the sake of clarity and ------------------------------- construction, the parties hereto hereby set forth their acknowledgment and agreement that each Borrower is a separate portfolio of the Fund acting on its behalf and as such is not a separately existing legal entity entitled to enter into contractual agreements or to execute instruments and for these reasons, each Fund acting on behalf of a Borrower is executing this Agreement and each respective Note on behalf of its portfolios, as Borrowers, and that such portfolios will utilize the Loans thus made on their behalf. No Fund shall make any designation, provide any notice or take any other action on behalf of any Borrower that is not an investment portfolio of such Fund.