Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 31 contracts
Samples: Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Commercial Loan Agreement (Red Oak Capital Fund V, LLC), Loan Agreement (Red Oak Capital Fund IV, LLC)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the each Individual Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 8 contracts
Samples: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (Strategic Storage Trust II, Inc.), Loan Agreement (Healthcare Trust, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Propertyeach Individual Property (and activities incidental thereto), or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present businessbusiness (and activities incidental thereto). Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 4 contracts
Samples: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (Necessity Retail REIT, Inc.), Loan Agreement (Healthcare Trust, Inc.)
Change in Business. No Individual Borrower shall not enter into any line of business other than the ownership and operation of the its Individual Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of any Individual Borrower contained in Section 5.2.10(d) hereof.
Appears in 4 contracts
Samples: Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Real Estate Income Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperties (and any ancillary business related to such operation), or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended shall be deemed to expand apply to any Transfers, and for the avoidance of doubt, the rights of Borrower contained in to effectuate Transfers is governed solely by Section 5.2.10(d) 5.2.10 hereof.
Appears in 3 contracts
Samples: Loan Agreement (Excel Trust, L.P.), Loan Agreement (Excel Trust, L.P.), Loan Agreement (Brixmor Property Group Inc.)
Change in Business. Neither Borrower nor Master Tenant shall not enter into any line of business other than the ownership (with respect to Borrower only) and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 3 contracts
Samples: Loan Agreement (Moody National REIT II, Inc.), Loan Agreement (Moody National REIT II, Inc.), Loan Agreement (Moody National REIT II, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended shall be deemed to expand apply to any Transfers, and for the avoidance of doubt, the rights of Borrower contained in to effectuate Transfers is governed solely by Section 5.2.10(d) 5.2.10 hereof.
Appears in 2 contracts
Samples: Loan Agreement (Brixmor Property Group Inc.), Senior Mezzanine Loan Agreement (Brixmor Property Group Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Collateral and shall not permit Mortgage Borrower to enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereofor Mortgage Borrower set forth herein.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement, Mezzanine Loan Agreement (TNP Strategic Retail Trust, Inc.)
Change in Business. (a) Borrower shall not enter into any line of business other than the ownership and operation of the PropertyPledged Collateral, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 2 contracts
Samples: Loan Agreement (Strategic Hotels & Resorts, Inc), Loan Agreement (Strategic Hotels & Resorts, Inc)
Change in Business. Borrower shall not enter into any line of business other than the ownership ownership, maintenance, management and operation of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof).
Appears in 2 contracts
Samples: Loan Agreement (Lineage, Inc.), Loan Agreement (Lineage, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 2 contracts
Samples: Loan Agreement (Cole Credit Property Trust III, Inc.), Loan Agreement (Cole Credit Property Trust III, Inc.)
Change in Business. (a) Borrower shall not enter into any line of business other than the ownership and operation of the PropertyCollateral, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 2 contracts
Samples: Property Management Agreement (Sunstone Hotel Investors, Inc.), Property Management Agreement (Sunstone Hotel Investors, Inc.)
Change in Business. (a) Borrower shall not enter into any line of business other than the ownership and operation of the PropertyCollateral, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof5.2.10(b).
Appears in 1 contract
Samples: Junior Mezzanine Loan Agreement (Ashford Hospitality Prime, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature 90526285v7 of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperty as a self-storage facility, the rental of U-Haul equipment, the retail sale of moving supplies and other appurtenant and related business, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Samples: Loan Agreement (Amerco /Nv/)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section SECTION 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(dSECTION 5.2.10(D) hereof.
Appears in 1 contract
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended shall be deemed to expand apply to any Transfers, and for the avoidance of doubt, the rights of Borrower contained in to effectuate Transfers is governed solely by Section 5.2.10(d) 5.2.10 hereof.
Appears in 1 contract
Change in Business. (a) Borrower shall not enter into any line of business other than the ownership of the Collateral, the ownership of the Operating Lessees and the ownership and operation of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Samples: Property Management Agreement (Sunstone Hotel Investors, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the applicable Individual Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Samples: Loan Agreement (Sun Communities Inc)
Change in Business. No Individual Borrower shall not enter into any line of business other than the ownership and operation of the applicable Individual Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof).
Appears in 1 contract
Change in Business. Except for Transfers permitted under Section 5.2.10, Borrower shall not enter into any line of business other than the ownership and operation leasing of the PropertyProperties, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Samples: Loan Agreement (Capitalsource Inc)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyCollateral, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof5.2.10(b).
Appears in 1 contract
Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Prime, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the PropertyProperty (and such actions as may be incidental thereto), or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof.
Appears in 1 contract
Change in Business. No Individual Borrower nor Operating Lessee shall not enter into any line of business other than the ownership and operation of the applicable Individual Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof).
Appears in 1 contract
Samples: Loan Agreement (New York REIT, Inc.)
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof5.2.10(b).
Appears in 1 contract
Change in Business. Borrower shall not enter into any line of business other than the ownership and operation of the Property, or make any material change in the scope or nature of its business objectives, purposes or operations, or undertake or participate in activities other than the continuance of its present business. Nothing contained in this Section 5.2.4 is intended to expand the rights of Borrower contained in Section 5.2.10(d) hereof).
Appears in 1 contract