Acceleration Upon Sale or Encumbrance. If, without the prior written consent of Beneficiary, Trustor or any general partner, member or shareholder of Trustor or any general partner of such general partner shall (A) sell or convey the Property or any part thereof, or any interest in the Property or in Trustor or in any general partner of Trustor; (B) be divested of its title to the Property or any interest therein; (C) further encumber the Property or the ownership interests in the Trustor; (D) enter into any lease giving the tenant any option to purchase the Property or any part thereof; or (E) encumber, grant a security interest in, transfer, permit the transfer of, or change or permit the change in: (1) the ownership of interests in the Trustor or any general partner in Trustor or any general partner of such general partner, or (2) the amount of the general partnership or membership interests in Trustor or the general partner of the Trustor or any general partner of such general partner or the beneficiary thereof, without the prior written consent of Beneficiary, then Beneficiary shall have the right, at its option, to declare the indebtedness secured by this Deed of Trust, irrespective of the maturity date specified in the Note, immediately due and payable. Except as expressly consented to in writing by Beneficiary, Trustor shall not permit any additional encumbrances on the Property.
Acceleration Upon Sale or Encumbrance. Upon a Transfer, whether voluntary, involuntary or by operation of law, of all or any part of the Property without the prior written consent of Beneficiary that is not a permitted Transfer under the Financing Documents, Beneficiary may, at its sole option, accelerate and declare the Secured Obligations immediately due and payable. Furthermore, the amalgamation, merger or consolidation of Trustor with or into any other Person or the issuance, sale, or, other disposition by Trustor of any shares of its capital stock or any other interest in Trustor, that is not permitted under the Financing Documents, shall be deemed a Transfer of the Property for purposes of this Section 4.16
Acceleration Upon Sale or Encumbrance. Except as expressly permitted in the Financing Agreement, upon the sale, transfer, hypothecation, assignment or encumbrance, whether voluntary, involuntary or by operation of law, of all or any part of the Mortgaged Property or any interest therein or the transfer of any interest in POA or a Partner or any other sale, transfer or disposition not permitted by the Financing Agreement without the prior written consent of Mortgagee, Mortgagee may, at its sole option (exercised in accordance with the Financing Agreement), unless such event does not constitute an Event of Default under the Financing Agreement, by written notice to POA, declare all Secured Obligations immediately due and payable, except to the extent that such acceleration by Mortgagee is prohibited by law. However, Mortgagee shall give prior notice to the Agency before Mortgagee exercises any remedies against the Agency or its interest in the Mortgaged Property.
Acceleration Upon Sale or Encumbrance. If the Trustor shall sell, convey or alienate said property or any part thereof, or any interest therein, or shall be divested of title, or any interest therein, in any manner or way, whether voluntarily or involuntarily, any indebtedness or obligation secured hereby, at the option of the holder hereof, and without demand or notice, shall immediately become due and payable, to the extent not expressly prohibited by applicable law.
Acceleration Upon Sale or Encumbrance. If BORROWER shall (i) sell or convey the Subject Property or any part thereof, or any interest in the Subject Property or in BORROWER; (ii) be divested of its title to the Subject Property or any interest therein; (iii) further encumber the Subject Property or the ownership interests in the BORROWER; (iv) enter into any lease giving the tenant any option to purchase the Subject Property or any part thereof; or (v) encumber, grant a security interest in, transfer, permit the transfer of, or change or permit the change in the ownership of shares of the BORROWER or any corporate general partner in BORROWER or the amount of the general partnership interests in the general partners of the BORROWER or the beneficiary thereof, without the prior written consent of LENDER, then LENDER shall have the right, at its option, to declare the indebtedness secured by this Security Deed, irrespective of the maturity date specified in the Note, immediately due and payable. Except as expressly consented to in writing by XXXXXX, BORROWER shall not permit any additional encumbrances on the Subject Property.
Acceleration Upon Sale or Encumbrance. Mortgagor agrees that Mortgagor shall not, without the prior written consent of Mortgagee (which consent may be withheld In Mortgagee's sole discretion), make or permit, whether voluntarily or Involuntarily by operation of law or otherwise, any Accelerating Transfer. Mortgagor acknowledges that Mortgagee Is making one or more advances under the Credit Agreement in reliance on the expertise, skill and experience of Mortgagor; thus, the Secured Obligations include material elements similar in nature to a personal service contract. Mortgagor acknowledges tie materiality of the provisions of this Section 6.1 as a covenant of Mortgagor, given individual weight and consideration by Mortgagee in extending the Loan, and that any Accelerating Transfer in violation of the permitted transfer provisions hereinabove provided shall result in a material impairment of Mortgagee's interest in the Property and be deemed a breach of the foregoing covenant. If any Accelerating Transfer occurs Mortgagee in its sole discretion may declare all of the Secured Obligations to be immediately due and payable and invoke any rights and remedies provided in Article 7 of this Mortgage.
Acceleration Upon Sale or Encumbrance. That the financial stability and managerial and operational ability of Trustor are a substantial and material consideration to Beneficiary in its agreement to enter into the transaction evidenced by this Deed of Trust and the Note is hereby acknowledged by Trustor and Beneficiary. That the transfer or further encumbrance of the Subject Property, could significantly and materially alter, impair and reduce Beneficiary's security for the Note is likewise acknowledged by Trustor and Beneficiary. In order, therefore, to induce Beneficiary to accept the Note, except with respect to a transfer which is included in items (i) and (ii) of the definition of "Authorized Transfer," in Section 3.7 of the Participation Agreement (a "Permitted Transfer"), Trustor agrees not to transfer or further encumber the Subject Property, or any portion thereof, or any interest therein, without the prior written consent of Beneficiary. In the event Trustor, or any successor in interest of Trustor, shall transfer or further encumber the Subject Property or any portion thereof, or any interest therein, other than by a Permitted Transfer, without first obtaining the written consent of Beneficiary, all indebtedness secured by this Deed of Trust, including without limitation the unpaid principal balance due on the Note, irrespective of the maturity date of the Note, shall, at the option of Beneficiary and without notice or demand, become immediately due and payable. As used herein, "transfer" includes the sale, option to sell, transfer or conveyance of the Subject Property, or any portion thereof, or any interest therein, or the transfer of any general partnership interests, membership interests or shares of stock (as applicable) in Trustor, whether voluntary, involuntary (except by eminent domain or upon death or mental incapacity), by operation of law or otherwise, except that the transfer of outstanding capital stock or other listed equity interests by persons or parties through the "over-the-counter" market or any recognized national or international securities exchange, shall not be included in determining whether Subject Property has been transferred.
Acceleration Upon Sale or Encumbrance. Trustor agrees that Trustor shall not, without the prior written consent of Beneficiary (which consent may be withheld in Beneficiary’s sole discretion), make or permit, whether voluntarily or involuntarily by operation of law or otherwise, any Accelerating Transfer. Trustor acknowledges that Beneficiary is making one or more advances under the Loan Agreement or entering in to one or more Swap Contracts in reliance on the expertise, skill and experience of Trustor; thus, the Secured Obligations include material elements similar in nature to a personal service contract. Trustor acknowledges the materiality of the provisions of this Section 6.1 as a covenant of Trustor, given individual weight and consideration by Beneficiary in extending the Secured Obligations, including, without limitation, under any Swap Contracts, and that any Accelerating Transfer in violation of the permitted transfer provisions hereinabove provided shall result in a material impairment of Beneficiary’s interest in the Property and be deemed a breach of the foregoing covenant. If any Accelerating Transfer occurs, Beneficiary in its sole discretion may declare all of the Secured Obligations to be immediately due and payable and invoke any rights and remedies provided in Section 7 of this Deed of Trust
Acceleration Upon Sale or Encumbrance. If Mortgagor shall (A) sell or convey the Property or any part thereof, or any interest in the Property; (B) be divested of its title to the Property or any interest therein; (C) further encumber the Property; (D) enter into any lease giving the tenant any option to purchase the Property or any part thereof; without the prior written consent of Mortgagee, then Mortgagee shall have the right, at its option, to declare the indebtedness secured by this Mortgage, irrespective of the maturity date specified in the Note, immediately due and payable. Notwithstanding the foregoing, in the event that the Mortgagor is an entity other than Ag-Chem Equipment Co., Inc., then if Mortgagor or any general partner, member or shareholder of Mortgagor or any general partner of such general partner shall (A) sell or convey the Property or any part thereof, or any interest in the Property or in Mortgagor; (B) be divested of its title to the Property or any interest therein; (C) further encumber the Property or the ownership interests in the Mortgagor; (D) enter into any lease giving the tenant any option to purchase the Property or any part thereof, or (E) encumber, grant a security interest in, transfer, permit the transfer of, or change or permit the change in: (1) the ownership of interests in the Mortgagor or any general partner or any shareholder or any member of Mortgagor or any general partner of such general partner, or (2) the amount of the general partnership, shares, or membership interests in Mortgagor or the general partners of the Mortgagor or any general partner of such general partner, without the prior written consent of Mortgagee, then Mortgagee shall have the right, at its option, to declare the indebtedness secured by this Mortgage, irrespective of the maturity date specified in the Note, immediately due and payable. Except as expressly consented to in writing by Mortgagee, Mortgagor shall not permit any additional encumbrances on the Property.
Acceleration Upon Sale or Encumbrance. That the financial stability and managerial and operational ability of Trustor are a substantial and material consideration to Beneficiary in its agreement to enter into the transaction evidenced by this Deed of Trust and the Participation Agreement is hereby acknowledged by Trustor and Beneficiary. That the transfer or further encumbrance of the Subject Property, could significantly and materially alter, impair and reduce Beneficiary's security for the Participation Agreement is likewise acknowledged by
