Common use of Conveyance of Premises Clause in Contracts

Conveyance of Premises. Except for the interest granted to Lessee pursuant to the Lease, Grantor shall not directly or indirectly encumber, pledge, convey, transfer or assign any or all of its interest in the Premises without the prior written consent of Beneficiary. Subject to the provisions of Section 3.11 hereof, Beneficiary's consent to such a transfer, if given, shall not release or alter in any manner the liability of Grantor or anyone who has assumed or guaranteed the payment of the Secured Indebtedness or any portion thereof. At the option of Beneficiary, the Secured Indebtedness shall be immediately due and payable in the event that Grantor conveys all or any portion of the Premises or any interest therein, or in the event that Grantor's equitable title thereto or interest therein shall be assigned, transferred or conveyed in any manner, including without limitation, the transfer or conveyance of any interest in Grantor, without obtaining Beneficiary's prior written consent thereto, and any waiver or consent for any prior transfer shall not preclude Beneficiary from declaring the Secured Indebtedness due and payable for any subsequent transfer.

Conveyance of Premises. Except for the interest granted to Lessee pursuant to the Lease, Grantor Grantors shall not directly or indirectly encumberencumber (by lien, junior mortgage, or otherwise), pledge, convey, transfer or assign any or all of its interest in the Premises Premises-without the prior written consent of Beneficiary. Subject to the provisions of Section 3.11 hereof, Beneficiary's consent to such a transfer, if givengiven in Beneficiary's sole discretion, shall not release or alter in any manner the liability of Grantor Grantors or anyone who has assumed or guaranteed the payment of the Secured Indebtedness or any portion thereof. At the option of Beneficiary, Beneficiary the Secured Indebtedness shall be immediately due and payable in the event that Grantor conveys Grantors convey all or any portion of the Premises or any interest therein, or in the event that Grantor's Grantors' equitable title thereto or interest therein shall be assigned, transferred or conveyed in any manner, including without limitation, the transfer or conveyance of any interest in Grantor, without obtaining Beneficiary's prior written consent thereto, and any waiver or consent for any prior transfer shall not preclude Beneficiary from declaring the Secured Indebtedness due and payable for any subsequent transfer. A change in control of either Grantor shall constitute a transfer in violation of this restriction.

Conveyance of Premises. Except for the interest granted to Lessee pursuant to the Lease, Grantor shall not directly by any instrument, means or indirectly encumber, pledgedevice whatsoever, convey, transfer assign, sell, transfer, lease, mortgage or assign encumber any or all of its interest in the Premises Premises, whether legal or equitable, present or future, vested or contingent, without the prior written consent of BeneficiaryBeneficiary or unless otherwise permitted under the Credit Agreement. Subject to the provisions of Section 3.11 hereof, Beneficiary's consent to such a transfer, if given, shall not release or alter in any manner the liability of Grantor or anyone who has assumed or guaranteed the payment of the Secured Indebtedness or any portion thereof. At the option of Beneficiary, the Secured Indebtedness shall be immediately due and payable in the event that Grantor conveys all or any portion of the Premises or any interest therein, or in the event that Grantor's equitable title thereto or interest therein shall be assigned, transferred or conveyed in any manner, including without limitation, or upon the transfer or conveyance of any interest in GrantorBorrower, without obtaining Beneficiary's prior written consent thereto, thereto unless permitted by the Credit Agreement and any waiver or consent for any prior transfer shall not preclude Beneficiary from declaring the Secured Indebtedness due and payable for any subsequent transfer.