Termination or Revocation of Trust. If any of Borrower, Guarantor or Key Principal is a trust, the termination or revocation of such trust is an unpermitted Transfer; provided that the termination or revocation of the trust due to the death of an individual trustor shall not be considered an unpermitted Transfer so long as:
Appears in 4 contracts
Samples: Multifamily Loan and Security Agreement (Independence Realty Trust, Inc), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Termination or Revocation of Trust. If any of Borrower, Guarantor Affiliated Property Operator, Guarantor, or Key Principal is a trust (other than a REIT), or if a Restricted Ownership Interest would be violated, or if Control of Borrower, Affiliated Property Operator, Guarantor, or Key Principal would be Transferred due to the termination or revocation of a trust, the termination or revocation of such trust is an unpermitted Transfer; provided that the termination or revocation of the trust due to the death of an individual trustor shall not be considered an unpermitted Transfer so long as:
Appears in 1 contract
Samples: Master Credit Facility Agreement (Brookdale Senior Living Inc.)
Termination or Revocation of Trust. If any of Borrower, Guarantor Guarantor, or Key Principal is a trust (other than a REIT), or if a Transfer of a Restricted Ownership Interest would occur, or if Change of Control of Borrower, Guarantor, or Key Principal would occur due to the termination or revocation of a trust, the termination or revocation of such trust is an unpermitted Transfer; provided that the termination or revocation of the trust due to the death of an individual trustor shall not be considered an unpermitted Transfer so long as:
Appears in 1 contract
Samples: Master Credit Facility Agreement (Steadfast Apartment REIT, Inc.)
Termination or Revocation of Trust. If any of Borrower, Guarantor or Key Principal is a trust, or if a Controlling Interest would be Transferred due to the termination or revocation of a trust, the termination or revocation of such trust is an unpermitted Transfer; provided that the termination or revocation of the trust due to the death of an individual trustor shall not be considered an unpermitted Transfer so long as:
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)
Termination or Revocation of Trust. If any of Borrower, Guarantor or Key Principal is a trust, or if a Controlling Interest of Borrower, Guarantor or Key Principal would be Transferred due to the termination or revocation of a trust, the termination or revocation of such trust is an unpermitted Transfer; provided that the termination or revocation of the trust due to the death of an individual trustor shall not be considered an unpermitted Transfer so long as:
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
