Common use of Equitable Assignment Clause in Contracts

Equitable Assignment. To the extent the deliverables contemplated by Section 13 are third party consents or waivers which are required to be obtained under applicable law or the terms of a governing agreement in order to effect the transactions hereunder with respect to an applicable Property, but such consents or waivers have not been obtained at Closing, if the parties are otherwise required to close under the terms of Section 5, then the parties shall close the transactions hereunder but with respect to such outstanding deliverables, the parties shall continue to seek to obtain such consent or waiver, and until such time as it is obtained, the parties shall not transfer the Property in breach of the applicable restrictions and instead shall enter into an equitable arrangement providing the purchasers the benefits and risks of ownership with respect to the Property for which the consent or waiver has not been obtained.

Equitable Assignment. To the extent the deliverables contemplated by Section 13 11 are third party consents or waivers which are required to be obtained under applicable law or the terms of a governing agreement in order to effect the transactions hereunder with respect to an applicable PropertyProperty or Interest, but such consents or waivers have not been obtained at Closing, if the parties are otherwise required to close under the terms of Section 5, then the parties shall close the transactions hereunder but with respect to such outstanding deliverables, the parties shall continue to seek to obtain such consent or waiver, and until such time as it is obtained, the parties shall not transfer the Property Interest in breach of the applicable restrictions and instead shall enter into an equitable arrangement providing the purchasers Buyer or REIT II, as applicable, the benefits and risks of ownership with respect to the Property Interest for which the consent or waiver has not been obtained.

Equitable Assignment. To the extent the deliverables contemplated by Section 13 11 are third party consents or waivers which are required to be obtained under applicable law or the terms of a governing agreement in order to effect the transactions hereunder with respect to an applicable PropertyProperty or Interest, but such consents or waivers have not been obtained at Closing, if the parties are otherwise required to close under the terms of Section 5, then the parties shall close the transactions hereunder but with respect to such outstanding deliverables, the parties shall continue to seek to obtain such consent or waiver, and until such time as it is obtained, the parties shall not transfer the Property Interest in breach of the applicable restrictions and instead shall enter into an equitable arrangement providing the purchasers Buyer or applicable SPV Purchaser the benefits and risks of ownership with respect to the Property Interest for which the consent or waiver has not been obtained.