Sale or Refinancing. The sale or refinancing the Project (other than pursuant to the Buy Out Option as provided for in this Cell Owner Agreement).
Sale or Refinancing. No General Partner shall have the power or authority, without the written joinder, consent and approval of all the General Partners: (i) to sell, exchange, lease or otherwise dispose of (or enter into any contracts for any such sale, exchange, lease or other disposition of) all or any portion of the Land, Project or other Partnership property, or modify any of the terms of any of the foregoing; or (ii) to borrow, whether such loans are secured or unsecured, any funds on behalf of the Partnership or refinance, increase, consolidate, extend or otherwise modify any of the terms of any Partnership indebtedness. None of the foregoing limitations shall require the consent, approval or any other action by any Limited Partner; nor shall such limitations be applicable to the lease of space in the Project in the ordinary course of Partnership business, and the Managing General Partner, on behalf of the Partnership, shall be permitted from time to time to enter into such leases without the approval of any other General Partner if such leases are in accordance with the then approved Operating Budget and schedule of rents, and are on the other terms and conditions, required by Section 4.0l.C(10)(b) above.
Sale or Refinancing. Borrower shall not sell, assign, transfer, convey, mortgage, pledge, lease, refinance or otherwise alienate or encumber the Property or any interest therein, whether legal or equitable; provided, however, Borrower shall be entitled to sell any personal property, in the ordinary course of its operation of the Property, upon replacement of same with personal property of the same style or type and of an equal or greater value.
Sale or Refinancing. The services of an attorney for the purchase, sale, or refinancing of a Member’s vacation or investment residence (where Member has not resided or does not intend to reside for twenty-seven (27) weeks or more per year). This service includes the review or preparation of closing documents and/or attendance by the attorney at closing in situations when it is customary to do so. This service does not include services performed by or for a title company, or for an attorney acting on behalf of a lending institution. Home equity loans and the sale or purchase of unimproved properties are not included. This service does not include any fees or costs other than those related to the attorney’s review of the purchase/sale documents.
Sale or Refinancing. The General Partners shall have the right to sell, transfer, exchange or pledge any or all of the Partnership assets, obtain permanent financing or refinance (“Refinancing”) the Partnership indebtedness without the consent or approval of the Limited Partners.
Sale or Refinancing. In the event the Company refinances the initial mortgage financing on the Project after rent stablization or sells the Project, the Manager will receive a fee of one percent (1%) of the gross amount of such refinancing or sale price. Such fee shall be in addition to any other fee payable to the Manager hereunder and shall be paid to the Manager at the time of the closing of the refinancing or sale.
Sale or Refinancing. (i) The Credit Parties agree to effect the refinancing of the Obligations owing to the Lender or the sale of the Credit Parties' assets or a restructuring of the Credit Parties' business, in each case providing for the complete and indefeasible payment and satisfaction of the Obligations owing to the Lender, including the full and complete satisfaction of the Lease Forbearance Balance and all other amounts due and owing to the Lender under the Leases, in cash (the "Sale or Refinancing"), which shall be targeted for completion by the Forbearance Expiration Date (the "Sale or Refinancing Date").
(ii) By no later than July 14, 2006, the Credit Parties shall engage the services of a financial advisor acceptable to the Lender and the Credit Parties (the "Palm Beach Financial Advisor") as their financial advisor with respect to the Sale or Refinancing. The terms and conditions of the contract of engagement for the Palm Beach Financial Advisor shall be reasonably satisfactory to the Lender. The Credit Parties shall continuously engage the services of the Palm Beach Financial Advisor for the purposes of effecting the Sale or Refinancing to a third party purchaser for cash, upon terms and conditions acceptable to the Lender, with a contemplated closing date for the Sale or Refinancing by no later than the Sale or Refinancing Date.
(iii) The Credit Parties agree to provide to the Lender on or before July 28, 2006, a copy of the offering memorandum prepared by the Palm Beach Financial Advisor and designed to seek the Sale or Refinancing from a third-party lender or third-party purchaser. At the time of delivery of the offering memorandum, the Credit Parties will deliver a list of not less than fifteen (15) third-party lenders or third party purchasers identified by the Credit Parties as reasonably likely potential lenders or purchasers with respect to a Sale or Refinancing, together with contact information, names, addresses and telephone numbers for each such lender or purchaser.
(iv) Not later than August 2, 2006, the Credit Parties shall deliver the offering memorandum and all other relevant information to each of the lenders or purchasers identified pursuant to clause (iii) above.
(v) The Credit Parties agree to provide to the Lender on or before August 14, 2006, a written term sheet from a third-party lender or third party purchaser for the Sale or Refinancing, with such term sheet (the "Term Sheet") having been executed by such party offering to effect the Sale...
Sale or Refinancing. When and as a Mortgaged Property is sold or refinanced so that it no longer is subject to the liens and security interests of the Bank, such Mortgaged Property and the Assigned Lease covering such Mortgaged Property shall no longer be subject to terms of this agreement. This provision shall not be deemed to authorize any sale or refinance that is contrary to the terms of any of the documents evidencing the Bank's liens and security interests against the Mortgaged Properties or the indebtedness secured thereby.
Sale or Refinancing. Borrower shall not sell, assign, transfer, convey, mortgage, pledge, lease or otherwise alienate or encumber the Project or any interest therein, whether legal or equitable, except in the event of full payment of the Loan or a partial repayment that fully releases the Property in question from the Loan (such partial release shall require a principal payment reducing principal by the amount established for the Property to be released, as shown on Schedule 6.14 hereto, and Borrower satisfaction of the terms and provisions in the attached Schedule 8.23).
Sale or Refinancing
