Common use of Restrictions on Transfer and Encumbrance Clause in Contracts

Restrictions on Transfer and Encumbrance. Except for a Transfer or a Permitted Assumption expressly permitted under this Article XI, the Borrowers shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance of (i) all or any part of the Collateral, the Jekyll Island Property, the Properties or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in the Borrowers or the Mortgage Borrowers, irrespective of the number of tiers of ownership without Lender's consent.

Restrictions on Transfer and Encumbrance. Except for a Transfer or a Permitted Assumption expressly permitted under this Article XI, the Borrowers Borrower shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than the Permitted Encumbrances) of (i) all or any part of the Collateral, the Jekyll Island Property, the any Properties or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in the Borrowers Borrower or the Mortgage Borrowers, irrespective of the number of tiers of ownership ownership, without Lender's consent.

Restrictions on Transfer and Encumbrance. Except for a Transfer as expressly permitted in this Article XI or a Permitted Assumption as otherwise expressly permitted under this Article XILoan Agreement or in the other Loan Documents, the Borrowers Borrower shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of the Collateral, the Jekyll Island Property, the Properties Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in the Borrowers or the Mortgage BorrowersBorrower, irrespective of the number of tiers of ownership ownership, without the prior written consent of Lender's consent.

Restrictions on Transfer and Encumbrance. Except for a Transfer as expressly ---------------------------------------- permitted in this Article XI or a Permitted Assumption as otherwise expressly permitted under this Article XILoan Agreement or in the other Loan Documents, the Borrowers Borrower shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of the Collateral, the Jekyll Island Property, the Properties any Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in the Borrowers or the Mortgage BorrowersBorrower, irrespective of the number of tiers of ownership ownership, without Lender's consentthe prior written consent of Lender and without delivery of a Rating Confirmation.

Restrictions on Transfer and Encumbrance. Except for a Transfer as expressly permitted in this Article XI or a Permitted Assumption as otherwise expressly permitted under this Article XILoan Agreement or in the other Loan Documents, the Borrowers shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than Permitted Encumbrances) of (i) all or any part of the Collateral, the Jekyll Island Property, the Properties any Property or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in the Borrowers or the Mortgage Borrowersany Borrower, irrespective of the number of tiers of ownership ownership, without the prior written consent of Lender's consent.

Restrictions on Transfer and Encumbrance. Except for a Transfer or a Permitted Assumption as expressly permitted under this Article XIXI and Leases entered into as permitted hereunder, the Borrowers shall not cause or suffer to occur or exist, directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, any sale, transfer, mortgage, pledge, Lien or encumbrance (other than the Permitted Encumbrances) of (i) all or any part of the Collateral, the Jekyll Island Property, the Properties or any interest therein, or (ii) any direct or indirect ownership or beneficial interest in any Borrower, the Borrowers Guarantor or the Mortgage BorrowersManager, irrespective of the number of tiers of ownership without Lender's consentconsent and receipt of a Rating Confirmation.