Common use of Property Encumbrances Clause in Contracts

Property Encumbrances. Except for any liens and security interests securing the Loans or any liens resulting from REIT’s (or REIT’s Representatives’) activities at or on the Property pursuant to this Agreement, Contributors shall not create or acquiesce to the creation of, and shall not knowingly or intentionally permit Waterford Titleholder to create or acquiesce to the creation of, any Encumbrances to title with respect to the Property other than the Existing Title Exceptions with respect to the Property, without in each case the prior written consent of REIT, which consent may not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, but which may be withheld in REIT’s sole discretion following the expiration of the Due Diligence Period.

Property Encumbrances. Except for any liens and security interests securing the Loans or any liens resulting from REIT’s (or REIT’s Representatives’) activities at or on the Property pursuant to this Agreement, Contributors Contributor shall not create or acquiesce to the creation of, and shall not knowingly or intentionally permit Waterford Springhouse Titleholder to create or acquiesce to the creation of, any Encumbrances to title with respect to the Property other than the Existing Title Exceptions with respect to the Property, without in each case the prior written consent of REIT, which consent may not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, but which may be withheld in REIT’s sole discretion following the expiration of the Due Diligence Period.

Property Encumbrances. Except for any liens and security interests securing the Loans or any liens resulting from REIT’s (or REIT’s Representatives’) activities at or on the Property pursuant to this Agreement, Contributors shall not create or acquiesce to the creation of, and shall not knowingly or intentionally permit Waterford Village Green Titleholder to create or acquiesce to the creation of, any Encumbrances to title with respect to the Property other than the Existing Title Exceptions with respect to the Property, without in each case the prior written consent of REIT, which consent may not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, but which may be withheld in REIT’s sole discretion following the expiration of the Due Diligence Period.

Property Encumbrances. Except for any liens and security interests securing the Loans or any liens resulting from REIT’s (or REIT’s Representatives’) activities at or on the Property pursuant to this Agreement, Contributors Contributor shall not create or acquiesce to the creation of, and shall not knowingly or intentionally permit Waterford Oak Crest Titleholder to create or acquiesce to the creation of, any Encumbrances to title with respect to the Property other than the Existing Title Exceptions with respect to the Property, without in each case the prior written consent of REIT, which consent may not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, but which may be withheld in REIT’s sole discretion following the expiration of the Due Diligence Period.

Property Encumbrances. Except for any liens and security interests securing the Loans or any liens resulting from REIT’s (or REIT’s Representatives’) activities at or on the Property pursuant to this Agreement, Contributors Sellers shall not create or acquiesce to the creation of, and shall not knowingly or intentionally permit Waterford Lansbrook Titleholder to create or acquiesce to the creation of, any Encumbrances to title with respect to the Property other than the Existing Title Exceptions with respect to the Property, without in each case the prior written consent of REIT, which consent may not be unreasonably withheld, conditioned or delayed prior to the expiration of the Due Diligence Period, but which may be withheld in REIT’s sole discretion following the expiration of the Due Diligence Period.