Common use of Transfer and Assumption Clause in Contracts

Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.

Appears in 2 contracts

Samples: Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.)

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Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's ’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's ’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.

Appears in 2 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)

Transfer and Assumption. (a) Notwithstanding the foregoing foregoing, from and subject to after the terms and satisfaction of all consummation of the conditions precedent set forth in this Section 5.26.21031 Exchange Transfer, Borrower shall have a one-time the right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's ’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's ’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's ’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's ’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs subsections (b) and (c) of this Section 5.26.

Appears in 1 contract

Samples: Loan Agreement (OVERSTOCK.COM, Inc)

Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time the right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's ’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors (including those of the BMC Space Master Lease Tenant) of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's ’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.

Appears in 1 contract

Samples: Loan Agreement (Thomas Properties Group Inc)

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Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time the right to Transfer the Property from time to time to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.265.

Appears in 1 contract

Samples: Loan Agreement (First Union Real Estate Equity & Mortgage Investments)

Transfer and Assumption. (a) Notwithstanding the foregoing and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.2, Borrower shall have a one-time the right to Transfer the Property to another party (the "Transferee Borrower") and have the Transferee Borrower assume all of Borrower's ’s obligations under the Loan Documents, and have replacement guarantors and indemnitors assume all of the obligations of the indemnitors and guarantors of the Loan Documents (collectively, a "Transfer and Assumption"). Borrower may make a written application to Lender for Lender's ’s consent to the Transfer and Assumption, subject to the conditions set forth in paragraphs (b) and (c) of this Section 5.26.

Appears in 1 contract

Samples: Loan Agreement (Thomas Properties Group Inc)

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