Common use of Prohibition of Assignments and Transfers by Borrowers Clause in Contracts

Prohibition of Assignments and Transfers by Borrowers. Borrowers shall not assign or attempt to assign its rights under this Agreement and any purported assignment shall be void. Other than a Permitted Transfer, without the prior written consent of Agent, in Agent’s sole discretion, Borrowers shall not suffer or permit the sale, transfer, lease (other than the Operating Leases and in the ordinary course of business pursuant to residency agreements and without material deviation from the pro forma rents previously provided by Borrowers to Agent), conveyance, alienation, pledge, assignment, encumbrance, hypothecation or other disposition (a “Transfer”) of (i) all or any portion of any Project or any portion of any other security for the Loan, (ii) all or any portion of any Borrower’s right, title and interest in and to any Project or any portion of any other security for the Loan, or (iii) any interest in any Borrower or Operator or any interest in any entity which holds an interest in, or directly or indirectly controls, any Borrower or Operator.

Prohibition of Assignments and Transfers by Borrowers. Borrowers No Borrower shall not assign or attempt to assign its rights under this Agreement and any purported assignment shall be void. Other than a Permitted Transfer, without Without the prior written consent of AgentLender, in AgentLender’s sole discretion, Borrowers shall not suffer or permit (i) any change in the management (whether direct or indirect) of any Project, or (ii) the sale, transfer, lease (other than the Operating Leases and in the ordinary course of business pursuant to the standard form of residency agreements agreement and without material deviation from the pro forma rents standard form previously provided by Borrowers to AgentLender), conveyance, alienation, pledge, assignment, encumbrance, hypothecation or other disposition (a “Transfer”) of (i1) all or any portion of any Project or any portion of any other security Collateral for the Loan, (ii2) all or any portion of any Borrower’s Borrowers’ right, title and interest in and to any Project or any portion of any other security Collateral for the Loan, (3) any interest of any Tenant under its Facility Lease, or (iii4) any interest in any Borrower or Operator or any interest in any entity which holds an interest in, or directly or indirectly controls, any Borrower or OperatorBorrower.