Common use of Prohibitions on Transfers, Liens and Encumbrances Clause in Contracts

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this Mortgage, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s prior approval, which may be withheld in Lender’s sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage and the Permitted Exceptions. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s partners, members or principals in the Property, or any change in Borrower’s composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s general partners, 's members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this Mortgage, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s 's prior approval, which may be withheld in Lender’s 's sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage and the Permitted Exceptions. A “Transfer” "TRANSFER" is defined as any sale, grant, lease (other than Leases in effect on the date of this Mortgage and bona fide third-party space leases subleases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s partners, 's members or principals in the Property, or any change in Borrower’s 's composition, or the composition of Borrower's members or principals or the composition of Sponsor, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s 's general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageDeed of Trust, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s 's prior approval, which may be withheld in Lender’s 's sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage Deed of Trust and the Permitted Exceptions. A “"Transfer” " is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s 's partners, members or principals in the Property, or any change in Borrower’s 's composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower Grantor acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower Grantor and Borrower’s its general partners, members or principals and on the continuing interest that each of them it has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageDeed of Trust, Borrower Grantor (i) will not, and will not permit its partners, partners or members or principals to, effect a Transfer without Lender’s 's prior approval, which may be withheld in Lender’s 's sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage Deed of Trust and the Permitted Exceptions. A “Transfer” "TRANSFER" is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s Grantor's partners, members or principals in the Property, or any change in Borrower’s Grantor's composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender Xxxxxx is relying to a material extent on the business expertise and net worth of Borrower and BorrowerXxxxxxxx’s general partners, members or principals partner and on the continuing interest that each of them it has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageDeed of Trust, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s prior approval, which may be withheld in Lender’s sole discretion discretion, and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage Deed of Trust and the Permitted ExceptionsExceptions and Permitted Liens. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenantstenants permitted by the Assignment), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of BorrowerXxxxxxxx’s partners, members or principals in the Property, or any change in Borrower’s composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s 's general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageDeed of Trust, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s 's prior approval, which may be withheld in Lender’s 's sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage Deed of Trust and the Permitted Exceptions. A “Transfer” Subject to SECTION 12.1(C), a "TRANSFER" is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s 's partners, members or principals in the Property, or any change in Borrower’s 's Constituents or composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageLoan Agreement, Borrower (i) will not, and will not permit its partners, partners or members or principals to, effect a Transfer without Lender’s prior approval, which may be withheld in Lender’s sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage the Security Instrument and the Permitted Exceptions. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s partners, partners or members or principals in the Property, or any change in Borrowera Restricted Party’s composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise (including mergers affecting any constituent entity) and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this Mortgage, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s prior approval, which may be withheld in Lender’s sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage and the Permitted Exceptions. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of Borrower’s partners, members or principals in the Property, or any change in Borrower’s composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender is relying to a material extent on the business expertise and net worth of Borrower and Borrower’s general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this MortgageLoan Agreement, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer Transfer, other than Permitted Transfers, without Lender’s prior approval, which may be withheld in Lender’s sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage the Security Instrument and the Permitted Exceptions. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenantstenants entered into in accordance with the provisions hereof), conveyance, assignment or other transfer of, or any encumbrance or pledge against, against (excluding easements or grant similar grants of a security interest inaccess to the Property made in the ordinary course and having no material adverse effect to the Property), the Property, any interest in the Property, any interest of Borrower’s partners, members or principals in the Property, or any change in Borrower’s compositioncomposition or Change in Control of Borrower, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise (including mergers affecting any constituent entity) and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.

Prohibitions on Transfers, Liens and Encumbrances. (a) Borrower acknowledges that in making the Loan, Lender Xxxxxx is relying to a material extent on the business expertise and net worth of Borrower and BorrowerXxxxxxxx’s general partners, members or principals and on the continuing interest that each of them has, directly or indirectly, in the Property. Accordingly, except as specifically set forth in this Mortgage, Borrower (i) will not, and will not permit its partners, members or principals to, effect a Transfer without Lender’s prior approval, which may be withheld in LenderXxxxxx’s sole discretion and (ii) will keep the Property free from all liens and encumbrances other than the lien of this Mortgage and the Permitted Exceptions. A “Transfer” is defined as any sale, grant, lease (other than bona fide third-party space leases with tenants), conveyance, assignment or other transfer of, of or any encumbrance or pledge against, or grant of a security interest in, the Property, any interest in the Property, any interest of BorrowerXxxxxxxx’s partners, members or principals in the Property, or any change in Borrower’s composition, in each instance whether voluntary or involuntary, direct or indirect, by operation of law or otherwise and including the grant of an option or the execution of an agreement relating to any of the foregoing matters.