Common use of Covenant Against Transfers Clause in Contracts

Covenant Against Transfers. Except as provided in Section 12.06 of the Loan Agreement, Mortgagor shall not transfer (or suffer or permit the transfer), in any manner, either voluntarily or involuntarily, by operation of law or otherwise, all or any portion of the Mortgaged Property, or any interest or rights therein (including air or development rights) without, in any such case, the prior written consent of the Required Banks. As used in this clause, “transfer” shall include, without limitation, (i) any sale, assignment, lease or conveyance except leases for occupancy subordinate hereto and to all advances made and to be made hereunder or under the Loan Agreement and (ii) any sale, conveyance, pledge, transfer or other disposition, directly or indirectly, of beneficial interests in Mortgagor. Notwithstanding the foregoing provisions of this Section 1.18, consent shall not be required for direct or indirect sales, conveyances, pledges, transfers or other dispositions of beneficial interests in TRG.

Covenant Against Transfers. Except as provided in Section 12.06 of the Loan Agreement, Mortgagor shall not transfer transfer, (or suffer or permit the transfer), in any manner, either voluntarily or involuntarily, by operation of law or otherwise, all or any portion of the Mortgaged Property, or any interest or rights therein (including air or development rights) without, in any such case, the prior written consent of the Required Banks. As used in this clause, “transfer” shall include, without limitation, (i) any sale, assignment, lease or conveyance except leases for occupancy subordinate hereto and to all advances made and to be made hereunder or under the Loan Agreement and (ii) any sale, conveyance, pledge, transfer or other disposition, directly or indirectly, of beneficial interests in Mortgagor. Notwithstanding the foregoing provisions of this Section 1.18, consent shall not be required for direct or indirect sales, conveyances, pledges, transfers or other dispositions of beneficial interests in TRGMortgagor.

Covenant Against Transfers. Except as provided in Section 12.06 of the Loan Agreement, Mortgagor shall not transfer (or suffer or permit the transfer), in any manner, either voluntarily or involuntarily, by operation of law or otherwise, all or any portion of the Mortgaged Property, or any interest or rights therein (including air or development rights) without, in any such case, the prior written consent of the Required Banks. As used in this clause, “transfer” shall include, without limitation, (i) any sale, assignment, lease or conveyance except leases for occupancy subordinate hereto and to all advances made and to be made hereunder or under the Loan Agreement and (ii) any sale, conveyance, pledge, transfer or other disposition, directly or indirectly, of beneficial interests in Mortgagor. Notwithstanding the foregoing provisions of this Section 1.18, consent shall not be required under this Section for direct or indirect sales, conveyances, pledges, transfers or other dispositions of beneficial interests in TRG.

Covenant Against Transfers. Except as provided in Section 12.06 of the Loan Agreement, Mortgagor shall not transfer transfer, (or suffer or permit the transfer), in any manner, either voluntarily or involuntarily, by operation of law or otherwise, all or any portion of the Mortgaged Property, or any interest or rights therein (including air or development rights) without, in any such case, the prior written consent of the Required Banks. As used in this clause, “transfer” shall include, without limitation, (i) any sale, assignment, lease or conveyance except leases for occupancy subordinate hereto and to all advances made and to be made hereunder or under the Loan Agreement and (ii) any sale, conveyance, pledge, transfer or other disposition, directly or indirectly, of beneficial interests in Mortgagor. Notwithstanding the foregoing provisions of this Section 1.18, consent shall not be required under this Section for direct or indirect sales, conveyances, pledges, transfers or other dispositions of beneficial interests in TRG.