Permitted Transfer Not Release. No Transfer by any party of its Ownership Interests in the Borrower or IDOT Guarantor shall release the party from liability under this Article 12, this Agreement or any other Loan Document, unless Lender shall have approved the Transfer in accordance with this Agreement, or such Transfer is otherwise permitted in this Agreement, and shall have expressly released the party in connection with the Transfer.
Appears in 2 contracts
Samples: Master Credit Facility Agreement (Archstone Inc.), Master Credit Facility Agreement (Archstone Smith Operating Trust)
Permitted Transfer Not Release. No Transfer by any party of its Ownership Interests in the Borrower or IDOT Guarantor shall release the party from liability under this Article 12XXIV, this Agreement or any other Loan Document, unless the Lender shall have approved the Transfer in accordance with this Agreement, or such Transfer is otherwise permitted in this Agreement, its sole and absolute discretion and shall have expressly released the party in connection with the Transfer.
Appears in 1 contract
Permitted Transfer Not Release. No Transfer by any party of its Ownership Interests in the Borrower or IDOT Guarantor shall release the party from liability under this Article 12, this Agreement or any other Loan Document, unless Lender Fannie Mae shall have approved the Transfer in accordance with this Agreement, or such Transfer is otherwise permitted in this Agreement, and shall have expressly released the party in connection with the Transfer.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Avalonbay Communities Inc)
