Sale, Transfer or Encumbrance. Except as otherwise permitted in the Credit Agreement, Mortgagor will not further mortgage, sell or convey, grant a deed of trust, pledge, grant a security interest in, execute a land contract or installment sales contract, or otherwise dispose of, further encumber or suffer the encumbrance of, whether by operation of law or otherwise, any or all of its interest in the Property without Mortgagee's prior written consent.
Sale, Transfer or Encumbrance. If Mortgagor shall voluntarily, involuntarily or by operation of law agree to, cause, suffer or permit (a) any sale, transfer, or conveyance of any interest of Mortgagor, legal or equitable, in the Mortgaged Property; or (b) any mortgage, pledge, encumbrance or lien to be outstanding against the Mortgaged Property or any portion thereof, or any security interest to exist therein, except as created or permitted by this Mortgage and the Other Loan Documents, and except Permitted Encumbrances and Liens and Impositions being properly contested in accordance with Section 1.8 hereof, Mortgagee may, at its election, declare the entire indebtedness hereby secured to be immediately due and payable, without notice to Mortgagor (which notice Mortgagor hereby expressly waives), and upon such declaration the entire indebtedness hereby secured shall be immediately due and payable, anything hereinabove or in the Note to the contrary notwithstanding. No transfer, conveyance, sale or other disposition shall relieve Mortgagor from its personal liability for its obligations hereunder, under the Note or under the Loan Agreement, whether or not the transferee assumes this Mortgage. Mortgagee may, without notice to Mortgagor, deal with any successor owner of all or any portion of the Mortgaged Property in the same manner as with Mortgagor, without in any way discharging the liability of Mortgagor hereunder or under the Note.
Sale, Transfer or Encumbrance. Mortgagor shall not further mortgage, sell or convey, grant a deed of trust, pledge, grant a security interest in, execute a land contract or installment sales contract, or otherwise dispose of, further encumber or suffer the encumbrance of, whether by operation of law or otherwise, any or all of its interest in the Mortgaged Premises without Mortgagee’s prior written consent. Mortgagee may, at its option, declare the entire balance of the Indebtedness to be immediately due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Mortgaged Premises.
Sale, Transfer or Encumbrance. (a) Mortgagor will not further mortgage, sell or convey, or grant a deed of trust, pledge, or grant a security interest in any of the Property, or contract to do any of the foregoing, or execute a land contract or installment sales contract, enter into a lease (whether with or without option to purchase) or otherwise dispose of, further encumber or suffer the encumbrance of any of the Property, whether by operation of law or otherwise.
Sale, Transfer or Encumbrance. (a) Mortgagor will not further mortgage, sell or convey, or grant a deed of trust, pledge, or grant a security interest in any of the Property after the date of this Mortgage, or contract to do any of the foregoing, or execute a land contract or installment sales contract, enter into a lease (whether with or without option to purchase) or otherwise dispose of, further encumber or suffer the encumbrance of any of the Property, whether by operation of law or otherwise. Notwithstanding the foregoing, Mortgagor is expressly permitted to enter into that certain Ground Lease by and between Mortgagor, as landlord, and PHR CHERRY PROPCO, LLC, LLC, a Michigan limited liability company (“Tenant”), as tenant (as the same may be amended from time to time, the “Ground Lease”), in connection with that certain Purchase and Sale Agreement by and between Mxxxxxxxx, as Seller, and The Procaccanti Group, LLC, as Buyer, dated April 28, 2021 (as amended and assigned, the “Purchase Agreement”). Mortgagee acknowledges and agrees that (i) certain of Mxxxxxxxx’s covenants and obligations under this Mortgage and under the Note shall be satisfied directly by Tenant under the Ground Lease as set forth therein; (ii) Tenant is an affiliate of Mortgagee; and (iii) in the event of any conflict between the terms of this Mortgage and the Ground Lease, during the term of the Ground Lease, the terms of the Ground Lease shall control.
Sale, Transfer or Encumbrance. (a) Except as permitted hereunder or following Mortgagee’s prior written consent, Mortgagor will not further mortgage, sell or convey, or grant a deed of trust, pledge, or grant a security interest in any of the Property after the date of this Mortgage, or contract to do any of the foregoing, or execute a land contract or installment sales contract, enter into a lease (whether with or without option to purchase) or otherwise dispose of, further encumber or suffer the encumbrance of any of the Property, whether by operation of law or otherwise.
Sale, Transfer or Encumbrance. Seller shall not sell, encumber, pledge, hypothecate or otherwise transfer any portion of the Property, or any interest therein, without Purchaser's prior written consent (which consent may be withheld in Purchaser's sole and absolute discretion).
Sale, Transfer or Encumbrance. Except as expressly allowed in this Security Instrument, Grantor will not sell, transfer, convey, mortgage, encumber or otherwise dispose of the Premises or the Intangible Personalty or any part thereof or any interest therein or engage in subordinate financing with respect thereto during the term of this Security Instrument without the prior express written consent of Grantee. Except as expressly allowed in this Security Instrument, Grantor will not sell, transfer, convey, mortgage, encumber or otherwise dispose of any of the Improvements.
Sale, Transfer or Encumbrance. Except as otherwise permitted in the Credit Agreement, Grantor will not further mortgage, sell or convey, grant a deed of trust, pledge, grant a security interest in, execute a land contract or installment sales contract, or otherwise dispose of, further encumber or suffer the encumbrance of, whether by operation of law or otherwise, any or all of its interest in the Trust Property without Beneficiary's prior written consent.
