No Merger of Interests Sample Clauses

No Merger of Interests. Unless expressly provided otherwise, in the event that ownership hereof and title to the fee and/or leasehold estates in the Premises encumbered hereby shall become vested in the same person or entity, this Mortgage shall not merge in said title but shall continue to be and remain a valid and subsisting lien on said estates in the Premises for the amount secured hereby.
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No Merger of Interests. Neither the fee title to the property demised by the Lease nor the leasehold estate created by the Lease shall merge, but shall always remain separate and distinct, notwithstanding the union of the aforesaid estates either in the lessor or the Mortgagor under the Lease or in a third party by purchase or otherwise, unless the Mortgagee shall, at its option, execute and record a document evidencing its intent to merge such estates. If the Mortgagor acquires the fee title or any other estate, title or interest in any Property covered by the Lease, this Mortgage shall attach to, be a Lien upon and spread to the fee title or such other estate so acquired, and such fee title or other estate shall, without further assignment, mortgage or conveyance, become and be subject to the Lien of this Mortgage. The Mortgagor shall notify the Mortgagee of any such acquisition by the Mortgagor and, on written request by the Mortgagee, shall cause to be executed and recorded all such other and further assurances or other instruments in writing as may in the opinion of the Mortgagee be required to carry out the intent and meaning hereof.
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No Merger of Interests. There will be no merger of the leasehold and fee estates if any party acquires both interests, unless PERS consents in writing to a merger.
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No Merger of Interests. The leasehold estates under this Site Lease and the Lease shall not merge, whether by the exercise of any right or remedy hereunder or thereunder, by operation of law, or otherwise.
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No Merger of Interests. The delivery, acceptance and/or recording of the Instruments of Conveyance and the receipt of the amounts specified in this Agreement by the Lender shall not in any way or manner whatsoever: (a) result in a merger of the interests of Lender pursuant to the Mortgage and other Loan Documents, and the interests of Lender as fee holder of the Project and as owner of the other Property shall at all times remain SEPARATE and DISTINCT from Lender’s interest in the Mortgage and the other Loan Documents until such time, if any, as Lender may affirmatively elect otherwise by written notice recorded with the Records. The liens and security interests evidenced by the Loan Documents shall be and remain at all times valid and continuous liens and security interests on the Property; (b) be deemed a waiver by Xxxxxx of any claim of priority pursuant to the Mortgage or pursuant to the other Loan Documents over any other liens, mortgages, deeds of trust, security interests or encumbrances of any kind or nature, now existing or hereafter placed upon the Property, or any part thereof; (c) affect or prejudice, in any way, the right of Lender to foreclose the Mortgage or any other lien granted pursuant to the Loan Documents by judicial proceedings or otherwise or to proceed as provided in the Mortgage, the other Loan Documents and as otherwise provided at law or in equity in the event that subsequent to the date hereof other liens, deeds of trust, security interests or encumbrances, resulting from the act or deed of Borrower, shall be asserted against the Property. (d) The Note and Mortgage and the lien imposed thereby and by the other Loan Documents shall, in all respects, remain in full force and effect and survive the Closing and recording of the Instruments of Conveyance and Borrower hereby ratifies and confirms the Note and Mortgage and the other Loan Documents in all respects.
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No Merger of Interests. The rights and interests of each party under this Agreement as the Owner of any individual Lot are separate and distinct from its rights and interests under this Agreement as the Owner of any other Lot. The fact that all interests in one or more Lots may, as of the Effective Date, be vested in one party, will not cause a merger of those interests or any extinguishment of this Agreement or the rights and interests created by this Agreement. It is intended that no such merger occur and this Agreement remain in full force and effect from and after the Effective Date.
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No Merger of Interests. 10.5.1. The rights and interests of each party under this Agreement as the Owner of any individual Lot are separate and distinct from its rights and interests under this Agreement as the Owner of any other Lot. The fact that all interests in one or more Lots may, as of the Effective Date, be vested in one party, will not cause a merger of those interests or any extinguishment of this Agreement or the rights and interests created by this Agreement. It is intended that no such merger occur and this Agreement remain in full force and effect from and after the Effective Date. 10.5.2. It is the intent of each Owner that the easements granted and declared by this Agreement shall be perpetual in duration. If any Owner shall become the fee owner of any servient tenement burdened by any such Easement, whether by operation or law or otherwise, the Easement shall continue in full force and effect, despite any partial or complete merger of estates.
Sample 1
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Related to No Merger of Interests

  • No Merger of Estates So long as part of the Indebtedness and the Obligations secured hereby remain unpaid and undischarged, the fee and leasehold estates to the Mortgaged Property shall not merge, but shall remain separate and distinct, notwithstanding the union of such estates either in Mortgagor, Mortgagee, any tenant or any third party by purchase or otherwise.

  • No Merger The voluntary or other surrender of this Lease by Tenant or a mutual termination thereof shall not work as a merger and shall, at the option of Landlord, either (a) terminate all or any existing subleases, or (b) operate as an assignment to Landlord of Tenant’s interest under any or all such subleases.

  • Transfer of Interests The Member may sell, assign, pledge, encumber, dispose of or otherwise transfer all or any part of the economic or other rights that comprise its Interest. The transferee shall have the right to be substituted for the Member under this Agreement for the transferor if so determined by the Member. No Member may withdraw or resign as Member except as a result of a transfer pursuant to this Section 7 in which the transferee is substituted for the Member. None of the events described in Section 18-304 of the Act shall cause the Member to cease to be a Member of the Company.

  • No Mergers, Etc The Transferor will not (i) consolidate or merge with or into any other Person, or (ii) sell, lease or transfer all or substantially all of its assets to any other person.

  • No Merger of Title There shall be no merger of this Lease or of the leasehold estate created hereby by reason of the fact that the same person or entity may acquire, own or hold, directly or indirectly: (a) this Lease or the leasehold estate created hereby or any interest in this Lease or such leasehold estate and (b) the fee estate in the Leased Property.

  • Certificates and Transfer of Interests Section 4.01. Initial Ownership 12 Section 4.02. The Certificates 12 Section 4.03. Execution, Authentication and Delivery of Certificates 12 Section 4.04. Registration of Transfer and Exchange of Certificates 12 Section 4.05. Mutilated, Destroyed, Lost or Stolen Certificates 13 Section 4.06. Persons Deemed Owners 14 Section 4.07. Access to List of Certificateholders’ Names and Addresses 14 Section 4.08. Maintenance of Office or Agency 14 Section 4.09. Restrictions on Transfers of Certificates 14

  • Transfer of Membership Interests (a) The Member may transfer its Membership Interest, in whole but not in part, but the transferee shall not be admitted as a Member except in accordance with Section 6.07. Until the transferee is admitted as a Member, the Member shall continue to be the sole member of the Company (subject to Section 1.02) and to be entitled to exercise any rights or powers of a Member of the Company with respect to the Membership Interest transferred. (b) To the fullest extent permitted by law, any purported transfer of any Membership Interest in violation of the provisions of this Agreement shall be wholly void and shall not effectuate the transfer contemplated thereby. Notwithstanding anything contained herein to the contrary and to the fullest extent permitted by law, the Member may not transfer any Membership Interest in violation of any provision of this Agreement or in violation of any applicable federal or state securities laws.

  • Transfer of Partnership Interests The foregoing power of attorney shall survive the delivery of an instrument of transfer by any Partner of the whole or any portion of or interest in its Partnership Interest, except that (i) where a Partner becomes a Former Partner, or (ii) where a Transferee of such Partnership Interest has been approved as a successor Partner and the Transferor shall thereupon cease being a Partner (all in accordance with this Agreement), then the power of attorney of the Former Partner or the Transferor Partner, as the case may be, shall survive the cessation of Partner status or the delivery of such instrument of transfer, as the case may be, for the sole purpose of enabling the attorneys-in-fact for such Former Partner or the Transferor Partner (or any of them) to execute, swear to, acknowledge and file any and all instruments necessary to effectuate or reflect such cessation, transfer and succession.

  • Transfers of Partnership Interests Except as the Partners may otherwise agree from time to time, a Partner may not Transfer all or any part of its Partnership Interest without the Consent of each other Partner, which Consent may be withheld in the sole discretion of each such other Partner.

  • Trust Certificates and Transfer of Interests Section 3.01

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