Common use of No Incumbrance or Transfer Clause in Contracts

No Incumbrance or Transfer. Except for the Ground Lease and as provided herein, Owner shall not incumber, lease, transfer, assign or sell all or any portion, or interest in, the Property, or enter into any agreement or contract effecting or relating to the Property without Optionee's prior written consent, which consent may be withheld in Optionee's sole discretion. Owner shall be entitled to encumber the Property for the purpose of securing one or more construction loans. Owner may also implement the Lot Line Adjustment, record the CC&R's and execute such other contracts (but not contracts or encumbrances that will be binding upon Optionee or the Property after the Close of Escrow) as may be necessary or advisable in connection with performing its obligations hereunder including demolition of the existing improvements.

No Incumbrance or Transfer. Except for the Ground Lease and as provided herein, Owner Seller shall not incumber, lease, transfer, assign or sell all or any portion, or interest in, the Property, or enter into any agreement or contract effecting or relating to the Property without OptioneeBuyer's prior written consent, which consent may be withheld in OptioneeBuyer's sole discretion. Owner Seller shall be entitled to encumber the Property for the purpose of securing one or more construction loans. Owner Seller may also implement the Lot Line Adjustment, record the CC&R's and execute such other contracts (but not contracts or encumbrances that will be binding upon Optionee Buyer or the Property after the Close of Escrow) as may be necessary or advisable in connection with performing its obligations hereunder including demolition completion of the existing improvementsImprovements.