DUE ON TRANSFER OR ENCUMBRANCE. Upon the sale or transfer of any portion of the Real Property or any other conveyance, transfer or vesting of any direct or indirect interest in the Borrower or the Property, including (i) the direct or indirect transfer of, or the granting of a security interest in, the ownership of the Borrower, (ii) any encumbrance (other than a Permitted Encumbrance) of the Real Property (unless the Borrower contests the encumbrance in compliance with Section 12) and (iii) the lease, license or granting of any security interest in the Personal Property, the Indebtedness shall, at the Lender’s option, become immediately due and payable upon Notice to the Borrower, unless the sale, conveyance, transfer or vesting is a Permitted Transfer or is permitted by Section 8.5.
Appears in 5 contracts
Samples: Deed of Trust, Security Agreement and Fixture Filing, Deed of Trust, Security Agreement and Fixture Filing (United Investors Income Properties), Future Advance Mortgage (Oxford Residential Properties I LTD Partnership)
DUE ON TRANSFER OR ENCUMBRANCE. Upon the sale or transfer of any portion of the Real Property or any other conveyance, transfer or vesting of any direct or indirect interest in the Borrower Mortgagor or the Property, including (i) the direct or indirect transfer of, or the granting of a security interest in, the ownership of the BorrowerMortgagor, (ii) any encumbrance (other than a Permitted Encumbrance) of the Real Property (unless the Borrower Mortgagor contests the encumbrance in compliance with Section 1211) and (iii) the lease, license or granting of any security interest in the Personal Property, the Indebtedness shall, at the Lender’s Mortgagee's option, become immediately due and payable upon Notice to the Borrowerwithout Notice, unless the sale, conveyance, transfer or vesting is a Permitted Transfer or is permitted by Section 8.5Transfer.
Appears in 1 contract
Samples: Mortgage and Security Agreement (Reckson Associates Realty Corp)
DUE ON TRANSFER OR ENCUMBRANCE. Upon the sale or transfer of any portion of the Real Property or any other conveyance, transfer or vesting of any direct or indirect interest in the Borrower or the Property, including (i) the direct or indirect transfer of, or the granting of a security interest in, the ownership of the Borrower or the voting rights in the Borrower, (ii) any encumbrance (other than a Permitted Encumbrance) of the Real Property (unless the Borrower contests the encumbrance in compliance with Section 12) and (iii) the lease, license or granting of any security interest in the Personal Property, the Indebtedness shall, at the Lender’s option, become immediately due and payable upon Notice to the Borrower, unless the sale, conveyance, transfer or vesting is a Permitted Transfer or is permitted by Section 8.5Subsection 8.7.
Appears in 1 contract
Samples: Deed of Trust, Security Agreement and Fixture Filing (RREEF Property Trust, Inc.)
