Common use of Transfer and Assumption Clause in Contracts

Transfer and Assumption. (a) Subject to obtaining Lender's prior written consent, which may be withheld in Lender's reasonable and absolute discretion, and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.3, Borrowers shall have a one-time right to Transfer the Property to one or more parties (the "TRANSFEREE BORROWER") and have the Transferee Borrower assume all of Borrowers' 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"). Borrowers 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.

Transfer and Assumption. (a) Subject to obtaining Lender's ’s prior written consent, which may be withheld in Lender's ’s reasonable and absolute discretion, and subject to the terms and satisfaction of all of the conditions precedent set forth in this Section 5.26.35.26.2, Borrowers Borrower shall have a one-time right to Transfer all (but not less than all) of the Property to one or more parties another party (the "TRANSFEREE BORROWER"“Transferee Borrower”) and have the Transferee Borrower assume all of Borrowers' 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"“Transfer and Assumption”). Borrowers 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.