Common use of Dealing with Successor Clause in Contracts

Dealing with Successor. In the event the ownership of the Mortgaged Property or any part thereof becomes vested in a person other than Grantor, Noteholder may, without notice to Grantor, deal with such successor or successors in interest with reference to this Mortgage and to the Indebtedness in the same manner as with Grantor, without in any way vitiating or discharging Grantor's liability hereunder or for the payment of the Indebtedness; provided, however, nothing in this Paragraph shall be construed as permitting any transfer of the Mortgaged Property which would constitute a Default under this Mortgage. No sale of the Mortgaged Property, no forbearance on the part of Noteholder and no extension of the time for the payment of the Indebtedness given by Noteholder shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Grantor hereunder or for the payment of the Indebtedness or the liability of any other person hereunder or for the payment of the Indebtedness, except as agreed to in writing by Noteholder.

Dealing with Successor. In the event the ownership of the Mortgaged Property or any part thereof becomes vested in a person other than Grantor, Noteholder the Collateral Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Mortgage Deed of Trust and to the Indebtedness in the same manner as with Grantor, without in any way vitiating or discharging Grantor's ’s liability hereunder or for the payment of the Indebtedness; provided, however, nothing in this Paragraph shall be construed as permitting any transfer of the Mortgaged Property which would constitute a Default under this MortgageDeed of Trust. No sale of the Mortgaged Property, no forbearance on the part of Noteholder the Collateral Agent and no extension of the time for the payment of the Indebtedness given by Noteholder the Collateral Agent shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Grantor hereunder or for the payment of the Indebtedness or the liability of any other person hereunder or for the payment of the Indebtedness, except as agreed to in writing by Noteholderthe Collateral Agent.

Dealing with Successor. In the event the ownership of the Mortgaged Property or any part thereof becomes vested in a person other than Grantor, Noteholder the Collateral Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Mortgage and to the Indebtedness in the same manner as with Grantor, without in any way vitiating or discharging Grantor's ’s liability hereunder or for the payment of the Indebtedness; provided, however, nothing in this Paragraph shall be construed as permitting any transfer of the Mortgaged Property which would constitute a Default under this Mortgage. No sale of the Mortgaged Property, no forbearance on the part of Noteholder the Collateral Agent and no extension of the time for the payment of the Indebtedness given by Noteholder the Collateral Agent shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Grantor hereunder or for the payment of the Indebtedness or the liability of any other person hereunder or for the payment of the Indebtedness, except as agreed to in writing by Noteholderthe Collateral Agent.

Dealing with Successor. In the event the ownership of the Mortgaged Property or any part thereof becomes vested in a person other than GrantorTrustor, Noteholder Lender may, without notice to GrantorTrustor, deal with such successor or successors in interest with reference to this Mortgage Deed of Trust and to the Indebtedness in the same manner as with GrantorTrustor, without in any way vitiating or discharging Grantor's Trustor’s liability hereunder or for the payment of the Indebtedness; provided, however, nothing in this Paragraph Section shall be construed as permitting any transfer of the Mortgaged Property which would constitute a Default under this MortgageDeed of Trust. No sale of the Mortgaged Property, no forbearance on the part of Noteholder Lender and no extension of the time for the payment of the Indebtedness given by Noteholder Lender shall operate to release, discharge, modify, change or affect, in whole or in part, the liability of Grantor Trustor hereunder or for the payment of the Indebtedness or the liability of any other person hereunder or for the payment of the Indebtedness, except as agreed to in writing by NoteholderLender.