CONVEYANCES AND ENCUMBRANCES. Landlord shall have the unrestricted right to convey, transfer, mortgage or otherwise encumber the Premises. This Lease is and at all times shall be automatically by its terms subject and subordinate to all present and future mortgages to which Landlord is a party and which in any way affect the Premises or any interest therein, and to all recastings, renewals, modifications, consolidations, replacements or extensions of any such mortgage(s). Tenant agrees, within seven (7) days of any such request, to execute any and all documents or instruments requested by Landlord or by any mortgagee(s) to evidence the said subordinate condition of this Lease, as the same may have been amended, to any such financing, and certify, when requested by Landlord or by any mortgagee(s), that this Lease is in full force and effect. This statement, commonly referred to as an "estoppel certificate", shall be for the benefit of Landlord, and any purchaser or mortgagee of Landlord. Landlord shall be released from all liability and obligation under this Lease upon the conveyance, assignment or other transfer of this Lease or the Premises.
CONVEYANCES AND ENCUMBRANCES. During the term of this Agreement, Seller shall not, without the prior written consent of Buyer (which may be withheld in Buyer's sole discretion), convey any interest in the Land and Improvements, or subject the Land or Improvements to any additional liens, encumbrances, covenants, conditions, easements, or rights of way, except as expressly contemplated or permitted pursuant to and in accordance with the terms of the Declaration.
CONVEYANCES AND ENCUMBRANCES. Property of the corporation may be assigned, conveyed or encumbered by such officers of the corporation as may be authorized to do so by the Board, and such authorized persons shall have power to execute and deliver any and all instruments of assignment, conveyance and encumbrance; however, the sale, exchange, lease or other disposition of all or substantially all of the property and assets of the corporation shall be authorized only in the manner prescribed by applicable statute.
CONVEYANCES AND ENCUMBRANCES. Lessor shall have the unrestricted right to convey, transfer, mortgage or otherwise encumber the Premises. This Lease is and at all times shall be automatically by its terms subject and subordinate to all present and future mortgages to which Xxxxxx is a party and which in any way affect the Premises or any interest therein, and to all recastings, renewals, modifications, consolidations, replacements or extensions of any such mortgage(s). Xxxxxx agrees, within seven (7) days of any such request, to execute any and all documents or instruments requested by Lessor or by any mortgagee(s) to evidence the said subordinate condition of this Lease, as the same may have been amended, to any such financing, and to certify, when requested by Lessor or by any mortgagee(s), that this Lease is in full force and effect. This statement, commonly referred to as an "estoppel certificate", shall be for the benefit of Xxxxxx, and any purchaser or mortgagee of Lessor.
