Common use of Actions with Respect to Mortgage Collateral Clause in Contracts

Actions with Respect to Mortgage Collateral. The Borrower shall not: (a) Compromise, extend, release, or adjust payments on any Mortgage Collateral, accept a conveyance of mortgaged property in full or partial satisfaction of any Mortgage Collateral, or release any Mortgage securing or underlying any Mortgage Collateral; (b) Agree to the amendment or termination of any Take-Out Commitment in which Lender has a security interest or to substitution of a Take-Out Commitment for a Take-Out Commitment in which the Administrative Agent has a security interest hereunder, if such amendment, termination or substitution may reasonably be expected (as determined by the Administrative Agent in its sole discretion) to have a Material Adverse Effect; (c) Transfer, sell, assign, or deliver any Mortgage Collateral pledged to the Administrative Agent to any Person other than the Administrative Agent, except pursuant to a Take-Out Commitment; or (d) Grant, create, incur, permit or suffer to exist any Lien upon any Mortgage Collateral except for Permitted Liens and such non-consensual Liens as may be deemed to arise as a matter of law pursuant to any Take-Out Commitment.