Lien; Valid Assignment 801 Broadway Sample Clauses
The 'Lien; Valid Assignment' clause establishes the rules regarding the creation, existence, or transfer of liens and the valid assignment of interests related to the property at 801 Broadway. In practice, this clause typically restricts parties from placing unauthorized liens on the property and outlines the conditions under which rights or obligations under the agreement may be assigned to another party. Its core function is to protect the property owner or lender from unapproved encumbrances and to ensure that any transfer of interests is conducted in a controlled and legally valid manner, thereby maintaining clear title and minimizing legal disputes.
Lien; Valid Assignment 801 Broadway. (Loan No. 20) The tenant doing business as Morningstar Health has a right of first refusal related to the sale of the unit of the condominium in which the tenant’s premises are located. The related right does not apply in the context of a foreclosure, deed-in-lieu, the Mortgagee’s transfer of the Mortgaged Property following a foreclosure or deed-in-lieu, or any exercise of the Mortgagee’s remedies under the Mortgage Loan Documents.