Common use of Dealing with Successor Clause in Contracts

Dealing with Successor. In the event the ownership of the Property or any part thereof becomes vested in a person other than Grantor, the Collateral Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Deed and to the Secured 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 Secured Indebtedness. Except as agreed to in writing by all Lenders and the Collateral Agent, no sale of the Property, no forbearance on the part of the Collateral Agent or any Lender and no extension of the time for the payment of any of the Secured Indebtedness given by the Collateral Agent or any Lender 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 Secured Indebtedness or the liability of any other person hereunder or for the payment of the Secured Indebtedness, except to the extent proceeds of any such sale are applied as provided in Paragraph 3.7 hereof.

Dealing with Successor. In the event the ownership of the Property or any part thereof becomes vested in a person other than Grantor, the Collateral Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Deed of Trust and to the Secured 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 Secured Indebtedness. Except as agreed to in writing by all Lenders and the Collateral Agent, no sale of the Property, no forbearance on the part of the Collateral Agent or any Lender and no extension of the time for the payment of any of the Secured Indebtedness given by the Collateral Agent or any Lender 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 Secured Indebtedness or the liability of any other person hereunder or for the payment of the Secured Indebtedness, except to the extent proceeds of any such sale are applied as provided in Paragraph 3.7 hereof3.7.

Dealing with Successor. In the event the ownership of the Property ---------------------- or any part thereof becomes vested in a person other than Grantor, the Collateral Administrative Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Deed of Trust and to the Secured 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 Secured Indebtedness. Except as agreed to in writing by all Lenders Banks and the Collateral Administrative Agent, no sale of the Property, no forbearance on the part of the Collateral Administrative Agent or any Lender Bank and no extension of the time for the payment of any of the Secured Indebtedness given by the Collateral Administrative Agent or any Lender Bank 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 Secured Indebtedness or the liability of any other person hereunder or for the payment of the Secured Indebtedness, except to the extent proceeds of any such sale are applied as provided in Paragraph 3.7 hereof3.7.

Dealing with Successor. In the event the ownership of the Property or any part thereof becomes vested in a person other than Grantor, the Collateral Administrative Agent may, without notice to Grantor, deal with such successor or successors in interest with reference to this Deed of Trust and to the Secured 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 Secured Indebtedness. Except as agreed to in writing by all Lenders Banks and the Collateral Administrative Agent, no sale of the Property, no forbearance on the part of the Collateral Administrative Agent or any Lender Bank and no extension of the time for the payment of any of the Secured Indebtedness given by the Collateral Administrative Agent or any Lender Bank 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 Secured Indebtedness or the liability of any other person hereunder or for the payment of the Secured Indebtedness, except to the extent proceeds of any such sale are applied as provided in Paragraph 3.7 hereof3.7.