Lien; Valid Assignment Value Place Sample Clauses

Lien; Valid Assignment Value Place. Memphis Portfolio (Loan No. 34) Pursuant to the franchise agreement with WoodSpring Hotels Franchise Services LLC (formerly Value Place Franchise Services LLC) (the “Franchisor”), the Franchisor has an option to purchase the Mortgaged Property upon the expiration and/or termination of the franchise agreement. Pursuant to the franchise comfort letter, the purchase option is subject to certain limitations, among others, subordination to the lien of the Mortgage.