Right to Purchase or Payoff VHDA Senior Loan Sample Clauses

Right to Purchase or Payoff VHDA Senior Loan i. If for any reason VHDA accelerates payment of the VHDA Senior Loan, then, when VHDA sends Leasehold Borrower a notice of acceleration, it shall also send a copy of such notice to the County Board, together with the following information (the copy of the acceleration notice to Leasehold Borrower and the following information together being the “County Notice of Acceleration”): (A) the outstanding principal balance (“OPB”) of the VHDA Senior Loan as of the date of the notice of acceleration sent to the Leasehold Borrower, (B) the amount of interest accrued and unpaid on the VHDA Senior Loan through the date of the notice of acceleration sent to the Leasehold Borrower, and (C) any amounts that are due and payable by Leasehold Borrower to VHDA pursuant to the VHDA Deed of Trust through the date of the notice of acceleration sent to the Leasehold Borrower.
Sample 1
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Right to Purchase or Payoff VHDA Senior Loan i. If for any reason VHDA accelerates payment of the VHDA Senior Loan, then, when VHDA sends Xxxxxxxx a notice of acceleration, it shall also send a copy of such notice to the County Board, together with the following information (the copy of the acceleration notice to Borrower and the following information together being the “County Notice of Acceleration”): (A) the outstanding principal balance (“OPB”) of the VHDA Senior Loan as of the date of the notice of acceleration sent to the Borrower, (B) the amount of interest accrued and unpaid on the VHDA Senior Loan through the date of the notice of acceleration sent to the Borrower, and (C) any amounts that are due and payable by Borrower to VHDA pursuant to the VHDA Deed of Trust through the date of the notice of acceleration sent to the Borrower.
Sample 1

Related to Right to Purchase or Payoff VHDA Senior Loan

  • RIGHT TO SELL Assignor may not Transfer any interest in the Xxxxx, the Subject Interests or any part thereof or any undivided interest therein in violation of Section 11.03. Subject to Section 11.02 and 11.03, Assignor may from time to time Transfer, mortgage or pledge its interest in the Xxxxx, the Subject Interests, or any part thereof or undivided interest therein, if and only if (i) such Transfer, mortgage or pledge is made expressly subject to and burdened with the Royalty Interest and this Conveyance; (ii) solely in connection with a Transfer other than a Transfer pursuant to a foreclosure on any mortgage or security interest, Assignor has caused the assignee, purchaser, transferee or grantee of any such transaction to (A) acknowledge that the affected Subject Interests are taken subject to and burdened with the Royalty Interest and this Conveyance, and (B) assume and agree to discharge Assignor’s obligations under this Conveyance with respect to such Subject Interests from and after the actual date of any such Transfer; and (iii) in connection with any Transfer pursuant to a foreclosure on any mortgage or security interest, Assignor has used commercially reasonable efforts to cause the assignee, purchaser, transferee or grantee of any such transaction to (A) acknowledge that the affected Subject Interests are taken subject to and burdened with the Royalty Interest and this Conveyance, and (B) assume and agree to discharge Assignor’s obligations under this Conveyance with respect to such Subject Interests from and after the actual date of any such Transfer. Any assumption and agreement to discharge shall be by appropriate written instrument for the express benefit of and enforceable by Assignee. For the avoidance of doubt, nothing in this Section 11.01(a) is intended to permit any assignee, purchaser, transferee or grantee to acquire any interest in the Xxxxx, the Subject Interests or any part thereof or undivided interest therein without being subject to and burdened with the Royalty Interest and this Conveyance. Assignee shall not be required to recognize any purported Transfer, mortgage or pledge not made in conformance with this Section 11.01(a) and, notwithstanding any such purported Transfer, mortgage or pledge, Assignor shall remain obligated under this Conveyance just as if such Transfer, mortgage or pledge attempt had not been made and Assignee shall continue to deal with Assignor to the exclusion of the purported transferee. Further, to the extent permitted by applicable Legal Requirements, any purported Transfer not made in conformance with this Section 11.01(a) shall be void and of no effect.

  • PROVISIONS OF THIS AGREEMENT APPLICABLE ON ALLOTTEE / SUBSEQUENT ALLOTTEES It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the Project shall equally be applicable to and enforceable against any subsequent Allottees of the [Apartment/Plot], in case of a transfer, as the said obligations go along with the [Apartment/Plot] for all intents and purposes.

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