Alienation and Further Encumbrances. In the event Trustor shall sell, convey, transfer, dispose of, alienate, or lease for a period of greater than thirty five (35) years the Property, or any part thereof or any interest therein, or shall be divested of its title or any interest therein, in any manner or way, whether voluntarily or involuntarily (any of the foregoing being individually called a "TRANSFER"), without the written consent of Beneficiary being first obtained, which consent may not be unreasonably withheld, Beneficiary shall have the right at its option to declare any Indebtedness or obligation secured hereby, irrespective of the maturity date specified in any note evidencing the same, immediately due and payable unless said transfer is permitted under the Credit Agreement. Acceptance by Beneficiary of any payment or payments on the Promissory Notes or other sums secured by this Deed of Trust by one other than Trustor shall not constitute (i) any notice to Beneficiary of any Transfer or proposed Transfer of any interest in the Property covered by this Deed of Trust or (ii) any consent or waiver of the right to consent to such Transfer or proposed Transfer of any interest in the Property.
Appears in 2 contracts
Samples: Leasehold Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Packaged Ice Inc), Deed of Trust, Security Agreement, Assignment of Rents and Fixture Filing (Packaged Ice Inc)
