No Merger of Fee and Leasehold Estates. There shall be no merger of this Lease nor of the leasehold estate created by this Lease with the fee estate in the Premises or any part thereof by reason of the fact that the same person, firm or corporation or other entity may acquire or own such estates directly or indirectly; and no such merger shall occur until all persons, firms, corporations and other entitled, including the Fee Mortgagee, having any interest in this Lease and the leasehold estate created hereby and the fee estate in the Premises or any party thereof shall join in a written instrument effecting such merger and shall duly record it.
No Merger of Fee and Leasehold Estates. So long as any portion of the Obligations shall remain unpaid, and unless the Beneficiary shall otherwise consent, the fee title to the Premises and the Improvements and the leasehold estate therein created pursuant to the provisions of the Subject Lease shall not merge, but shall always be kept separate and distinct, notwithstanding the union of such estates in the Grantor or in any other person, by purchase, operation of law or otherwise. If the Beneficiary shall acquire the fee title to the Premises and the Improvements and the leasehold estate therein created pursuant to the provisions of the Subject Lease, by foreclosure of this Deed of Trust or otherwise, such estates shall not merge as a result of such acquisition and shall remain separate and distinct for all purposes after such acquisition unless and until the Beneficiary shall elect to merge such estates.
No Merger of Fee and Leasehold Estates. RELEASES. So long as any portion of the Debt shall remain unpaid, unless Lender shall otherwise consent, the fee title to the Land and the leasehold estate therein created under the Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Operating Lessee, the lessor thereunder, or in any other Person by purchase, operation of law or otherwise. Lender reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estate created by the Operating Lease, with or without consideration, at Lender's election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents and any such release shall not affect Lender's rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates. Releases. So long as any portion of the Debt shall remain unpaid, unless Beneficiary shall otherwise consent in writing, which consent may be given or withheld in Beneficiary’s sole and absolute discretion, the fee title to the Land and the Leasehold Estate shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Trustor, Fee Owner, or in any other person or entity by purchase, operation of law or otherwise. Beneficiary reserves the right, at any time, to release portions of the Property, including, but not limited to, the Leasehold Estate, with or without consideration, at Beneficiary’s election, without waiving or affecting any of its rights hereunder or under the other Loan Documents and any such release shall not affect Beneficiary’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates. Releases. So long as any portion of the Obligations shall remain unpaid, unless Mortgagee shall otherwise consent, the fee title to the Land, the Leasehold Estate created by the Ground Lease and the subleasehold estate created by the Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Mortgagors, Owner, Ground Lessee or in any other Person by purchase, operation of law or otherwise. Mortgagee reserves the right, at any time, to release portions of the Property, including, but not limited to, the Leasehold Estate and the subleasehold estate created by the Operating Lease, with or without consideration, at Mortgagee’s election, without waiving or affecting any of its rights hereunder or under the Note or the other Loan Documents and any such release shall not affect Mortgagee’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates. So long as any portion of the Debt shall remain unpaid, unless Mortgagee shall otherwise consent, then the fee title to the Leasehold Premises and the leasehold estate therein created pursuant to the provisions of the Ground Lease and the fee title to the Improvements and all Equipment constituting a fixture, and the fee title to the Easement Premises and the interests in real property arising under the provisions of the Easements, shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates in Mortgagor, or in any other person (including Mortgagee) by purchase, operation of law or otherwise (including without limitation a union of estates arising from a foreclosure sale purchase or deed in lieu of foreclosure).
No Merger of Fee and Leasehold Estates. Mortgagor covenants and agrees that the fee title to the Leased Land and the leasehold estate created under the Mortgaged Lease shall not merge but shall always remain separate and distinct, notwithstanding the union of said estates either in Mortgagor or a third party by purchase or otherwise; and in case Mortgagor acquires the fee title or any other estate, title or interest in and to the Leased Land, the lien of this Mortgage shall, without further conveyance, simultaneously with such acquisition, be spread to cover and attach to such acquired estate and as so spread and attached shall be prior to the lien of any Mortgage placed on the acquired estate after the date of this Mortgage.
No Merger of Fee and Leasehold Estates. Releases. So long as any portion of the Obligations remains unpaid or unsatisfied, unless Mortgagee shall otherwise consent, the fee title to the Land and the leasehold estates created under the Ground Lease and the Operating Lease shall not merge but shall always be kept separate and distinct, notwithstanding the union of such estates by purchase, operation of Laws or otherwise. Mortgagee reserves the right, at any time, to release portions of the Property, including, but not limited to, the leasehold estates created by the Ground Lease and the Operating Lease, with or without consideration, at Mortgagee’s election, without waiving or affecting any of its rights hereunder or under the Notes or the other Loan Documents and any such release shall not affect Mortgagee’s rights in connection with the portion of the Property not so released.
No Merger of Fee and Leasehold Estates. So long as any of the Obligations shall remain unpaid, the fee title to the Property and the leasehold estate under the Ground Lease shall not merge, but shall always be kept separate and distinct, notwithstanding the union of such estates in Grantor, Beneficiary or any other person by purchase, operation of laws or otherwise.
No Merger of Fee and Leasehold Estates. 14 So long as any portion of the Debt shall remain unpaid, and unless the Mortgagee shall otherwise consent, the fee title to the Premises and the Improvements and the leasehold estate therein created pursuant to the provisions of the Mortgaged Lease shall not merge, but shall always be kept separate and distinct, notwithstanding the union of such estates in the Mortgagor or in any other person, by purchase, operation of law or otherwise. If the Mortgagee shall acquire the fee title to the Premises and the Improvements and the leasehold estate therein created pursuant to the provisions of the 13 Include this Paragraph 55 only in a leasehold mortgage.
