No Merger of Estates. So long as any of the indebtedness secured hereby and by the Loan Documents shall remain unpaid, unless the Agent shall otherwise consent in writing, the fee title and the leasehold estate on the Property as hereinbefore described shall not merge, but shall always be kept separate and distinct, notwithstanding the union of said estate either in the Assignor or in any tenant or in a third party by purchase or otherwise.
Appears in 12 contracts
Samples: Credit Agreement (Behringer Harvard Reit I Inc), Assignment of Leases and Rents (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Behringer Harvard Reit I Inc)
No Merger of Estates. So long as any of the indebtedness secured hereby and by the Loan Documents shall remain unpaid, unless the Agent shall otherwise consent in writing, the fee title and the leasehold estate on the Property as hereinbefore described shall not merge, but shall always be kept separate and distinct, notwithstanding the union of said estate either in the Assignor or in any tenant tenant, lessee or licensee or in a third party by purchase or otherwise.
Appears in 2 contracts
Samples: Credit Agreement (Jernigan Capital, Inc.), Credit Agreement (Jernigan Capital, Inc.)
No Merger of Estates. So long as any of the indebtedness secured hereby and by the Loan Documents shall remain unpaidunpaid and the obligation of the Lenders to make additional Loans or issue Letters of Credit shall continue, unless the Agent shall otherwise consent in writing, the fee title and the leasehold estate on the Property as hereinbefore described shall not merge, but shall always be kept separate and distinct, notwithstanding the union of said estate either in the Assignor or in any tenant or in a third party by purchase or otherwise.
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